Bed-Stuy: The New Lower East Side?
The Times has a story about an architectural designer who’s moved to Bed-Stuy from Alphabet City and claims that Brooklyn reconnects me to New York City as a cultural and social phenomenon. Michael Andaloro lived on Avenue B for more than two decades and sold two apartments there for $1.2 million last year; he originally…
The Times has a story about an architectural designer who’s moved to Bed-Stuy from Alphabet City and claims that Brooklyn reconnects me to New York City as a cultural and social phenomenon. Michael Andaloro lived on Avenue B for more than two decades and sold two apartments there for $1.2 million last year; he originally paid $60,000 for the properties. Andaloro recently bought a Bed-Stuy building for $775,000 and spent almost that much on renovating the structure, which he says was a 7 on the squalor scale. The new Brooklynite says he doesn’t miss the East Village, which was like spring break in Orlando on Thursday nights and that his new neighborhood’s diversity and possibilities are like the Lower East Side of lore. And, of course, he’s banking on his Bed-Stuy investment eventually paying off the same way Alphabet City did: I always figure that a bleak or notorious neighborhood translates into cachet one day.
Rediscovering New York as It Used to Be [NY Times]
Photo by …neene…
sorry i shouldn’t say realistic, more so “real” as in he doesn’t think he’s being insulting even though I agree that he is.
I am a prospective buyer of a townhouse in Stuy-Heights. My concern is safe street parking in the neighborhood for a popular SUV since garages are almost non-existant and whether or not an investment of 1.2m is right. I love the house but it needs everything. Block is nice but projects are 2 blocks away. Food delivery is probably slim and grocery stores are not adequate.
I currently live in Clinton Hill and the value in Bed-Stuy is crazy. But, you do get what you pay for and while the home may be nice, is the neighborhood going to stay on the upswing? I have a 4 year-old and one on the way and they will go to school in Clinton Hill, so schools aren’t the problem. As Clinton Hill is a great walking neighborhood, I am concerned that the spotty blocks and lack of services may make us prisoners in our own home. No disrespect to Bed-Stuy owners, but I am truly looking for insight to make a sound judgement on the largest investment I’ve ever made in life.
10:05am. you made good points about this guys choice of language. I found his “homey’s” comment laughable but I got the feeling he genuinely had his head in the clowds as opposed to a stone cold racist. He’s not PC that’s for sure but seems like a realistic guy. Of course I’m not always the best judge of character but that was my take. He’s annoying but at least he gave the neighborhood a chance unlike many people on this site who cant wait to serve up dumbass comments about shootings, etc whenever bedstuy is mentioned.
Should only be a few months before this guy is appointed to the board of DDDB.
this guy’s not a douche – he found something and made it work for him. In the process he took a dilapidated building and reworked it extensively, and is charging the same price for rent that other run down buildings in the hood charge. The douchbags are the slumlords who let their buildings go to hell and still charge as much as possible.
This guy is such a douche – exactly what is wrong with liberalism in America, he finds other people’s poverty to be “romantic”.
I love how a guy who designs stores for Hermes is appalled by the bourgeois. Meanwhile he considers a car (and a garage) an urban necessity andis charging 1200 a mo for a 1br and $2000 a mo for a 2b (sorry pal but that is market rate rents)
But if there was any question whether this guy is really the dic! he seems – we are treated to him using terms like “SoBro” and “homey’s” (apparently to describe the black people in his neighborhood)
Agreed 9:55am – Look at the qualify of work he has done. Not to mention the sense of community he seems to have established with his tenants and neighbors. Congratulations to him finding happiness.
what’s so foolish about it if the guy is already loving his move and investment there? He is enjoying it right now, as we speak! He was in the Times talking about how much he loves his new building and home, how happy he is right now, and you are at home in an armchair talking about 20 years from now.
foolish, might take more than 20 years for this one to change around if there is no economic down turns in bed sty