Bed-Stuy: 'Experiencing a Little Bit of a Depression'?
The New York Times took a look at Bedford-Stuyvesant this weekend as an area once considered one of the roughest in the city, but one with a rich cultural history where you can now smell gentrification in the air, mainly via the fragrance of higher-end retail. More interesting than the article’s notes on gentrification is…
The New York Times took a look at Bedford-Stuyvesant this weekend as an area once considered one of the roughest in the city, but one with a rich cultural history where you can now smell gentrification in the air, mainly via the fragrance of higher-end retail. More interesting than the article’s notes on gentrification is how it touches on current home values in Bed-Stuy: “‘We’re actually experiencing a little bit of a depression,’ said Tanya Blackwood, owner of Location Location Location, a real estate agency. ‘We’re back to where people are undervaluing houses—it’s just bananas.’ The neighborhood’s size makes it difficult to narrow down a price range for houses, but livable two-families generally start around $600,000, said Keith Mack of the Corcoran Group. A house in great shape, he said, might fetch $875,000. (Houses in the historic district still command a little more, but there are very few listed.) A perusal of Web sites like PropertyShark.com shows houses trading at or below $600,000. ‘I could’ve given you a general price point a year ago,’ said Lakeisha Edwards, a broker at Prudential Douglas Elliman. ‘But it’s now really property by property; in between those are so many short sales and foreclosures.'” Agree?
History, With Hipper Retailing in Bed-Suy [NY Times]
Photos by nvrlowdown
I just got beat on by some “youths” in “Historic Stuyvesant Heights” less than an hour ago at the corner of Macdonough and Stuyvesant.
You know: one block east of Peaches and Saraghina… the fabulous restaurants the Times and others have been gushing about.
Still want to live in Bed Stuy?
How much off the purchase price is your health and well being worth to you?
Feel like taking a beat-down for no reason?
Then Bed Stuy welcomes you, friend.
“When the top goes down, the price goes up.”
Good one!
re lawyers in suits- I wore a suit (I had a more ‘real’ job back then) and carried a big ol’ camera around my neck going home at night (late at night) to atlantic and nostrand whenever that was (2001? 2000?) and it was no more or less dangerous-feeling than it is now. Sometimes you get shit for looking weird, sometimes you don’t.
Admittedly, it is only a couple blocks from the subway, but still. Plenty of opportunity for razzing, and I only even got _verbally_ harassed once or twice a year.
Good night all. Hope you feel better tomorrow, AWIF.
hey dibs- My wife’s a young professional (architect) and I’m a vaguely-employed freelancer artist person. Therefore, though neither of us are much of a fit with the typical yuppie image, I must admit that half our couple does fit the literal yup acronym.
though at 33, we’re probably pushing the Y end of it. Mauppies, here we come.
(and I bet one could find a $800 2br… and it would be either a fluke or a shithole. we overpay ($1700) for a really pleasing 2br with a nice landlord right upstairs… but i had a $700 2br on atlantic avenue oh these many (8?) years ago, and it would still be a ripoff at that price today. worst place I’ve ever lived.)
I’m surprised how much money they get for 60s Corvette resto-mods. They approach the price of original restored vehicles. I wish I still had my ’59.
“When the top goes down, the price goes up.” I love that line.
Hi mopar. I’m watching the Barrett Jackson auto auctions on Speed.
Hi Dave!