Atlantic's Successful Antics
The Post displays some out-in-front reporting this morning with a story on the gentrification of Atlantic Avenue. Evidently, Atlantic has transformed from a strip defined mostly by parking lots a few decades ago to its current incarnation, notable for substantial residential and retail development. Most interesting are details about how home values have risen. “Back…
The Post displays some out-in-front reporting this morning with a story on the gentrification of Atlantic Avenue. Evidently, Atlantic has transformed from a strip defined mostly by parking lots a few decades ago to its current incarnation, notable for substantial residential and retail development. Most interesting are details about how home values have risen. “Back in 2000, a brownstone [in Boerum Hill] went for about $1.5 million,” says Nancy McKiernan of Nancy McKiernan Realty. The story says a brownstone off Atlantic today goes for roughly $2.5 million, and condos fetch in the $600- to $700-per-square-foot range. The article also has a roll call of all the avenue’s recent and planned development, including the Smith and Renaissance Realty’s in-progress luxury rental at 252 Atlantic. And, of course, Atlantic has seen a great deal of retail advances in the past few years, including its many newish boutique shops, the just-opened Urban Outfitters and the planned Trader Joe’s. The big elephant in the room, natch, is how plans to reopen the House of Detention are going to affect Atlantic’s progress. The article’s most hilarious quote is from a recent transplant who says, “The prison presence is barely noticeable at all!” That could change slightly if the city’s plans to reopen the facility with 1,469 inmates by 2012 moves forward.
Atlantic Current [NY Post]
Photo by urban_lisa.
There is a big movement on the bail out issue! I think people are fixing up their pitchforks and warming up the tar! There is a quiet revolution going on and people are not going to take it anymore.
The BIG story is New Century Financial and KPMG LLP. KPMG signed off on New Century books and defrauded Investors. This is the same thing that happen at ENRON with Arthur Anderson. Arthur Anderson was out of business 6 months later!
New Century Bankruptcy Examiner Says KPMG Aided Fraud (Update4)
http://www.bloomberg.com/apps/news?pid=20601103&sid=aXebBOZ3eBjQ&refer=news
And….
Equity Loans as Next Round in Credit Crisis
http://www.nytimes.com/2008/03/27/business/27loan.html?hp
This is huge! Remember Home Equity loans are callable. The bank can force you to pay it back at anytime, it’s like a margin call.
“Americans owe a staggering $1.1 trillion on home equity loans — and banks are increasingly worried they may not get some of that money back.
To get it, many lenders are taking the extraordinary step of preventing some people from selling their homes or refinancing their mortgages unless they pay off all or part of their home equity loans first. In the past, when home prices were not falling, lenders did not resort to these measures.”
Last but not lease, I was not at Bear Sterns yesterday. I wish I was there. That shows you how bad thing are. Wake up!
The What
Someday this war is gonna end…
The only such sign I can make out in the video says “This War Isn’t Over.”
The “What” link…video on right
http://www.bloomberg.com/apps/news?pid=newsarchive&sid=akGvUo2phD9Y
10:15 here’s the video, but….
http://www.bloomberg.com/apps/news?pid=newsarchive&sid=akGvUo2phD9Y
inmates LOVE cupcakes!
ARGH!! I have been looking for the story, but i only find a report (not video) and a different man with another sign. I guess the What has friends in high places and got it taken down….?
Atlantic avenue used to be divided into two distinctly different feeling streets with Boerum Place as the dividing line.The dingy side was in Boerum hill where I have lived for 20 years.There was a dead zone that consisted of the jail,a parking garage on court and Atlantic, and two large gas stations on either side of Boerum place across from the jail.Now that 75% of what was referred to as “The Gap” has been or is being developed,the negative influence of the jail should be much less.One disturbing offshoot of the jail are the many bail bondsmen and shyster lawyers who set up shop on Atlantic.
It seems like the jail is there to stay,unfortunately.Accepting that fact,I’d love to see something like the Hamlin plan happen.
I know we have been thru the issue before, but the jail is minor factor. The parking by court employees and guards is bigger negative.
Yeah, you’ll get those they say they heard yelling or whatever – but did not happen much – And I say much less intrusive and quiet than some nightlife bar or club or restaurant with outside seating – where the noise takes place when trying to sleep at night.
The issue really is that while the jail may have some minor noise, inconveniences – small compared to some other commercial enterprises – The demographics of the people inside and their visitors makes some people
‘uncomfortable’.
Certainly the Manhattan House of Detention sits on edge of residential Chinatown and I doubt most people are aware of it.
I love that Atlantic is actually wide enough for strollers, at least the part where the cupcake place is. No stroller wars please!