Life During Recession Time: Schools
What will be the impact of the economic turmoil on Brooklyn schools? Will private schools like Packer, Berkeley Carroll, Friends, Saint Ann’s and Poly Prep see high rates of attrition? (We heard that close to 50 families have given notice to Trinity in Manhattan that their kids won’t be back next year.) It’s no secret…
What will be the impact of the economic turmoil on Brooklyn schools? Will private schools like Packer, Berkeley Carroll, Friends, Saint Ann’s and Poly Prep see high rates of attrition? (We heard that close to 50 families have given notice to Trinity in Manhattan that their kids won’t be back next year.) It’s no secret that many of the thirty-something parents sending their single-digit-aged children to these schools get assistance from their sixty- and seventy-something parents; the thirty-somethings may be losing their jobs (or just making less money) while the grandparents all of a sudden are facing the prospects of their retirement on half the savings they thought they had. In this scenario, will private schools be forced to cut tuitions or will only the truly rich be able to attend? And if many private schoolers shift to a public school system that’s simultaneously undergoing large cuts, what does that mean for class sizes and education quality? On the other hand, could the injection of some private school refugees be good news for some public schools? What do you think?
Come on 11217 be real – the 1st one while a bargin on many levels has 1 Bathroom and a tiny 3rdBR – how can you compare this to a suburban house???? and the second one is not in 321, costs 30% more then the 900k we were discussing, has a maintainance of 1400K a mo (hardly making up for the low taxes) and isnt even in 321.
Here’s a 4 bedroom/2 Bath/1600sf place on Berkeley for 1.265 million.
That’s a pretty nice family sized place if you’re looking for a ton of space and not a whole house.
http://www.corcoran.com/property/listing.aspx?Region=NYC&ListingID=1434744&ohDat=11/23/2008%2012:00:00%20AM;
FSRG:
Here’s a 1200 sf 3 bedroom on 5th Avenuue and 2nd Street for 879K:
http://www.corcoran.com/property/listing.aspx?Region=NYC&ListingID=1435067
So a search. There a ton. There’s a really nice looking 3 bedroom on Sterling (probably ps. 282) for 799K.
11217 is right, and if you go a few blocks north to the PS 282 district (a decent school that’s improving) you can get a nice 2BR coop in a brownstone building even less for $500-600K, on a lovely North Park Slope block.
Maybe a 2br – which is hardly family sized or comparable to a suburban house of any size – but please show me legitimate 3brs in PS321…not saying you wont be able to get one in the future – but not now (at least anything desirable) and when you will that suburban house will have fallen even more
FSRG,
You can get a gorgeous 2 or 3 bedroom for 900K in the PS. 321 school district.
I’ve seen some nice 2 bedrooms listed for less than 700K in fact.
Montclair has 38,000 residents.
A little different than a city of 8.3 million.
I know 3 families who moved to Montclair from Park Slope in the mid to late 90’s. All have since moved back and had to pay about double to buy back in. Imagine how expensive NYC is going to be in 15 or 20 years when your kids are out of school and you want to move back to the city…
Or you can stay in Jersey and pay the 25K plus a year in taxes from when you’re age 50-90 with grown children. Does not sound like a bargain to me.
I agree with you very much Traditionalmod.
bkny – not sure on your math – but even still – you’d be hard pressed to find a family sized apartment OR house zoned for a good/excellent public school in Brooklyn for 900K nad since you have to pay tuition for EACH child and property taxes for only one house – sorry suburbs are going to be cheaper then virtually anything comparable her in Brooklyn. Glad youre staying – but the economics favor the suburbs.
tradmod – i completely agree with you. we looked 30-45 min outside of the city and felt that it was completely unaffordable. MM – we looked in montclair. if you add the 20k taxes to the house price it becomes very unaffordable. a 600-700k house is now a 900k house, with taxes increasing every year. we can’t afford private school or taxes, so there is really no savings. the thought pattern that if you have more than one kid – move to the ‘burbs & pay taxes, only works if you can afford an extra 20k in the first place! we have more than one kid, can not afford an extra 20k, both work in the city and would have a more expensive commute. so bottom line, we plan to stay in brooklyn and support the public school system. many moms in my ‘hood do not have school aged children and are very involved in the fundraising for the local school. they want the school to be more solid when it’s time for there kids to attend.