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’m glad I’m here for your enjoyment, AWIF. Too bad you can’t seem to add anything to the discussion of Bed Stuy instead of acting like a pompous know-it-all.
bfarwell…what’s a “half-yuppie” couple??? 🙂
Why don’t you post the discussion that led up to me posting that, jackass.
Typical lawyer trying to stretch something to fit his argument by taking something else out of context. You’re a real pip, AWIF.
Maybe you could join in on the tour of the Met that I offered to take bodegaboy on and learn something yourself!!!!
Luckily the Japanese market is quiet and there’s nothing on TV so I can amuse myself by watching you get your knickers in a bunch over me!!! ROTFLMMFAO
I just stood on a $100,000 chair recently trying to reach something. It was an ugly-ass chair. Expensive and ‘finer things in life’ do not always align.
(the chandelier above the chair, however, which had a clock face built into the round base so you could look up and see what time it was, was superfine. I’d trade them at *least* four of the chairs for that chandelier.)
DIBS, above is why you sound like a pretentious dick. Thanks for the offer kensington, but I’ll pass.
Ever buy a table at Christie’s for $9,000, cornerbodega?? No, I suspect you’ve never been to Christies. That kind of expensive furniture.
It’s labelled underneath and was made in NY in 1772-1775. You need to learn to appreciate the finer things in life.
You stay in contact with me here more often and maybe it’ll rub off on you.
Posted by: daveinbedstuy at July 31, 2009 6:47 PM
ps- we’re a half-yuppie couple with a baby. sorry. 😉
rf…those rentals we saw posted on here last week in what I would refer to the northern end of Bed Stuy seemed ridiculously high. I know that a nice small one bedroom, newly renovated, can be had for $1,100 at 327 Stuyvesant, the corner of Macon. Four units were recently rented out there at that price and $1,300 for one slightly larger.
I’m not sure how much cheaper you can actually get a place for anywhere in Brooklyn. Shouldn’t someone making $50,000 be able to afford $1,100 per month???
I have to admit, I may not be the best person to analyze what people should be able to afford. Also, as a landlord, I can’t see raising rent on people more than a couple of percent every year should be unaffordable either.
I, for one, would be psyched if the prices drop; my landlord bought our very nice building five or six years ago for $350k, we totally love the neighborhood (okay, okay, we’re right over the border to crown heights, but darn close) and it would take some drastic reductions (like back to $350k for a decent work-in-progress brownstone) for us to ever buy here.
(I also see some POS buildings priced like it’s 2007. It seems like almost everything is priced 25% over reasonable)