Saratoga and Macdonough?

Hi everyone, A very brief update on my quest to be a homeowner (you may recall my post from back in July about my frustrations in (not) finding a multi-family home): Came across a condo that I like very much in Bed Stuy at Saratoga and Macdonough. Although it’s a bit farther east than I like (I’d prefer to be around the Nostrand Avenue A/C lines–like everyone else), I think the property is great–the price point’s fair and there are next to no renovations I’d have to do. It’s about three blocks from the Halsey J stop. This would be my primary residence so of course, I’m especially mindful of the area. Might anyone have any initial thoughts about this section of BedStuy but in particular the cross-streets of Saratoga and Macdonough? Any signs of gentrification (other than myself, of course!) you see happening? This is a condo property, if that makes any difference in terms of me selling it in a couple of years (which I have no plans to do, but you never know). I’m a born and raised New Yorker so I’ve seen it all. My threshold for crazy is fairly high, but of course, I just want make sure that I’m not about to buy and live in a terribly dangerous and volatile area. Thanks much for your thoughts!

mediamaven56

in About Brooklyn 11 years and 6 months ago

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catbk | 11 years and 6 months ago

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Just throwing this out there – I have zero opinions or observations about the address in question. But now that we can take advantage of Air BnB, Roomorama, Homeaway and other places that promote rental in many areas, would it be possible to find a place nearby and rent the room for a week or two, just to get a feel for the area prior to purchase?

putnam | 11 years and 6 months ago

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Just to clarify, I this is a borderline part of Ocean Hill (I think it’s community board 16). I don’t think talking to local precincts are worth much. Most of the PO’s don’t live in their neighborhoods and obviously only see the worst. They will always have crazy stories. Personally, I think this area can be sketchy, however a lot of the building stock is quite nice and there are many home-owners (new and old). Schools are of generally of poor quality and crime is much higher than other parts of the area. That said, I think that this area will be some of the last affordable, quality row-houses in Brooklyn. They will not make any more. Setting aside condo vs co-op discussion, I wouldn’t purchase in this area expecting to make a huge windfall in the short-term, as I don’t believe prices will continue to move up as quickly here as they have further west. I love Saratoga Park and the blocks which line it, and you are pretty to close to two different train lines, which is always a benefit. Broadway further north has been seeing some more commercial growth.

mediamaven56 | 11 years and 6 months ago

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Many thanks for your responses.

resident2 | 11 years and 6 months ago

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Knowing what I know about Condos; I would be more concerned with buying a Condo period. Besides the fact that you do not know if you are buying a classic or a lemon; there are many new development lemons out there. You also cannot control if, in a few years it becomes majority owned by investors renting out their unit. Thus making it virtually impossible to sell yours or refinance in the future. Banks do not lend in buildings that are not majority owner occupied, in a condo there is nothing to force owner occupancy or make investors sell to get the balance back to majority owner occupants. There are becoming many big white elephants out their. (no pun intended) With people that thought buying a condo rather than a co-op was the way to go. Big mistake!

cupotea | 11 years and 6 months ago

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Agree with anep, you should definitely check with Precinct and talk to neighbors. I don’t think it is fair to compare with Chauncey Street which does have some pretty crazy buildings. Check it out for yourself.

metalwork | 11 years and 6 months ago

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My sister had a restaurant on Fulton and Saratoga they still own the building there. they area is changing, but its still crazy. i will not buy over there. i moved from chauncey, between Malcolm x and Stuyvesant. it was crazy on that end as well. i couldnt let my daughter and wife deal with that, now we are a block away from Norstrand, much better. Good Luck

annep | 11 years and 6 months ago

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I realize you may not have meant it this way – but asking whether or not there are signs of “gentrification” comes off the wrong way – especially when asking the advice of people who have lived in the area for a while. Are you asking about crime? Schools? Check the local precinct & talk to neighbors. The neighborhood interaction is one of the best things about Bed Stuy which, unfortunately, is starting to get lost with the high property turn-over.

mediamaven56 | 11 years and 6 months ago

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And yes, I know it’s important to visit, make my own decision, but one or two visits to an area can’t substitute for the feel you get for it living there for quite some time. Thanks again!