Goldman Sachs Buying Up Fulton Street
In My Brooklyn Report’s series on urban blight along Fulton Street, Michael Corley notices that Goldman Sachs’ real estate investment arm has taken keen interest in a certain stretch of Fulton Street in Bedford Stuyvesant, buying up at least six neighboring properties in the vicinity of Marcus Garvey Boulevard, including at least one vacant lot….
In My Brooklyn Report‘s series on urban blight along Fulton Street, Michael Corley notices that Goldman Sachs’ real estate investment arm has taken keen interest in a certain stretch of Fulton Street in Bedford Stuyvesant, buying up at least six neighboring properties in the vicinity of Marcus Garvey Boulevard, including at least one vacant lot. In his piece, he raises questions about the possible motives of Goldman Sachs, namely whether the financial behemoth plans to oust locals in favor for higher-paying suburbanite baby-boomers moving back to the city. Mr. Corley’s piece is the second in a three-part series, so we are curious to see if he finds evidence of sketchy political dealings or whether this is, simply, a savvy investment maneuver by Sachs. Update: Looks like this really isn’t such big news. As a commenter points out, we wrote about this a year and a half ago! See the post here. GMAP
Goldman Sachs Finds Opportunity in Bedford Stuyvesant [My Brooklyn Report]
Whose [sic] Responsible for the Urban Blight at 1576 Fulton Street [My Brooklyn Report]
Photo by Jonathan Scheff/Brownstoner
Less 4 More-
forgot your … ah never mind. you’re too wound up.
Have a great weekend.
MM, we will see how far lower prices go for brownstones in brooklyn. They WILL NOT get to “Half Off Peak Comps” though. if the market collectively thought that there would be no buyers for properties such as those we see weekly in “Last Week’s Biggest Sales.” And, the inventory is way down.
Ugh, BH76, as I’ve said many times, I am NOT seeking a 2-5-3 million dollar home! Modest home, decent area, prefer to renovate at least partially ourselves.
I have no idea whether prices will go down or up or really does it make much difference to me. I don’t think they will change very quickly in either direction. So if I were buying I’d be in no hurry.
Muffett keeps refering to return to price levels of this year or that. What I don’t get from her is how do you know when this happens. I get sense you want house (with correct layout/renovation/etc) in school zone for one of top elementary schools. And in very nice condition and neighborhood…Park Slope/CobbleHill.
Like at what price per sq foot makes a 2003-4 or 2001-2 pricing?
guess a keyboard warrior with absolutely NO skin / $$$ in the game would be deemed an expert of something – ie can claim to be able to tell someone else whom he/she thinks is also has no skin in the game and just debating for argument sake
I have to say that I know plenty of people who could find a nice house for $1.5MM. I do not understand what MM wants… prime area pristine rennovation — a $2.5-3.0MM house — for $1.5MM? If so, I think she will be where she is for quite a while. I am very bearish on condos, rentals but good houses in good neighborhoods? The GS folks and their ilk will continue to keep those out of reach to all but the select few…
DIBS, agree with you on that. the lifetime oppty of recent memory was in ’96/97
On the contrary, DIBS, we are NOT past that. The bottom has yet to come.
My interpretation of the regular bear posters on this board.
Not my interpretation of the real world.