A Successful Buy-and-Hold Strategy on Hoyt Street
What is it about stories about people who scored beautiful houses in Brownstone Brooklyn three decades ago that are at once so irresistible and envy-inducing? Whatever it is, The Times served up another dose this weekend in its Habitats column. In this case, the lucky owners are a charming couple that met at Pratt in…
What is it about stories about people who scored beautiful houses in Brownstone Brooklyn three decades ago that are at once so irresistible and envy-inducing? Whatever it is, The Times served up another dose this weekend in its Habitats column. In this case, the lucky owners are a charming couple that met at Pratt in the late 1960s before nabbing their 22-foot-wide brownstone on Hoyt Street in Boerum Hill in 1973 for a cool $49,500. Of course, there’s the requisite context of urban grittiness to smudge our rose-colored glasses. Wyckoff Street was an open drug bazaar, with guns and hookers everywhere, said Frank Cusack, one half of the pioneering real estate couple. Decades of block association work and one celebrity couple neighbor later, of course, Hoyt Street is a whole different animal, though Ms. Cusack still conducts her exercise classes for neighborhood ladies in the parlor floor living room. The couple just finished a renovation (a conversion of the garden floor to a rental), the last of many in the 36-year span they’ve occupied the house.
Shrink or Expand to Fit [NY Times]
What. I need to leave the delusional alone.
See BHO These guys will never get it! They are so immersed in The Mutant Asset Bubble is sicking! That’s why I won’t change “Someday this war is gonna end” until we hear from Lt Col. Kingore
” wasder will soon become one of us (Team Reasonable = Sneaky Transition)”
I hope not! Wasder is a retarded idiot!
“”BHO-I read the lyrics to Jay Z’s ‘We go hard’ and am still trying to figure out what it has to do with real estate.”
and you never will… I love the “Fall Back”!
Dave is not “helpless” he trying to do a impression of Bill O’reilly/Larry Kudlow. I wonder how long will it last….
The What (Oh Brother)
Someday this war is gonna end..
“+900% vs +400%. Ouch!”
Somehow +400% doesn’t sound too much like an ouch moment.
In re sneaky transition I am not an economic determinist like you or like the bulls. I am a reasonable person trying to live a reasonable life. And as such I go reasonably….Peace.
“You may have been right on some things but to believe this property is going to $200k is delusional.”
I IMPLIED 4 TO 5 TIMES!!! [he mumbles with a deaf accent, throwing up signs and banging hands on chest]
“Get a grip people….the market is telling us something over the past 5 days.”
Yeah, “Here sheepie sheepie…[baaaggghhh…baaaggghhh…]”. Sucker’s rally. It’s an opportunity to unload on a bounce.
“…how would that pinch the folks that bought it for the equivalent of 200G?”
+900% vs +400%. Ouch!
“wasder….they bought it for $49,000”
Wow! wasder schooling dave on the time value of money. You’re right, What. I need to leave the delusional alone. wasder will soon become one of us (Team Reasonable = Sneaky Transition).
“BHO-I read the lyrics to Jay Z’s ‘We go hard’ and am still trying to figure out what it has to do with real estate.”
Fall back, wasder. It’s just a chant, wasder.
“If it falls to a million, they have a profit of $951K (we don’t know how much money they put into it) which is a profit of 20X their money!!!”
You’re helpless, dave (with respect to the time value of money). Really.
***Bid half off peak comps***
DIBS–just added my old school photo to the mix. More 80’s than 70’s obviously but still good for a laugh…
if you drink beer outside of a bodega you get a ticket. And if I played dominoes on the corner people would just call me a stupid hipster and tell me to go home.
Oldtimer : who pays attention to names of Chinese restaurants?
You can still see the mosaic or whatever from that bar on corner of Bergen. Johnnys Bootery – but that is down by my area. Hubert’s I ate in couple of times.
I can’t believe that lady (or I think same woman) is still selling those batik clothes on Atlantic. I remember buying some as gifts for my 1st nephews as baby gifts and they are pushing 30 now.
wasder…I posted a photo in the Open Thread…you might want to check it out when you need a laugh.
And hell, if houses like that dropped to $200k I’d buy 5.
When I buy it’s with the intent to keep. Not just for “the time being” but forever. I’d love to have a few multi families in the general Heights, Cobble/Boreum Hill/Carroll Garden’s area.
If the HOTD today (Carroll St with 3 car garage) drops like Team Bear is hoping I’ll snap it up at around $1 mil.
Oldtimer, I’m pretty sure most of us do that already.
You are here right now posting here, just as many of us are on a spare moment from work. If I were independently wealthy or retired, I’d be playing right this moment.
You better believe that come Friday, I am playing all weekend in Brooklyn and loving every second of it.
Yesterday I did the HUGE spring cleaning of the garden and had an absolute ball!