Big Bucks for Downtown's Big House?
Here’s an interesting solution for the House of Detention on Atlantic that doesn’t involve supersizing the facility: Comptroller Bill Thompson says the city should sell the property, according to an article in today’s Daily News. Thompson wrote a letter to Mayor Bloomberg that says selling the facility, which has been closed since ’03, will bring…
Here’s an interesting solution for the House of Detention on Atlantic that doesn’t involve supersizing the facility: Comptroller Bill Thompson says the city should sell the property, according to an article in today’s Daily News. Thompson wrote a letter to Mayor Bloomberg that says selling the facility, which has been closed since ’03, will bring cash to the city and prevent a reopened jail from damaging Downtown Brooklyn’s economy. “Because our City has already begun to experience economic weakness, communities such as Downtown Brooklyn remain at risk of reversing their economic gains,” wrote Thompson, saying that reopening the jail “would … directly impact the revitalization of the surrounding area.” Right now community members who oppose the Department of Corrections’ plan to double the House of Detention’s size are considering suing the city. We wonder how much a property like this might fetch, and what sort of developer would be interested in taking it on. Guesses?
Sell Shut Downtown Brooklyn Jail to Raise Cash, Bloomberg Urged [NY Daily News]
City Looks to Supersize the House of D [Brownstoner] GMAP
Photo by Funtime Ben.
Fewer homes in Bed Stuy for sale than late 2006-mid 2007…and what are for sale are on pretty run down blocks and it looks like they saw the 2006-early 2007 prices and tacked on another $200,000 or so!!!
Best thing about all this is that the brokers are hurting!!!
“You were right – housing prices were a total bubble – credit crisis will result in some serious pain all around – including NYC housing …but your sheer inability to see that the Feds actions as well as the markets, have made your most dire predictions less likely – and recent information confirms this.”
“..but your sheer inability to see that the Feds actions as well as the markets, have made your most dire predictions less likely”
No Assfuck, the FED actions have made thing worse, much worse. What was the price of oil a year ago? it was 70.00 a barrel.
Learn the meaning of inflation.
http://en.wikipedia.org/wiki/Inflation
Cash inflation is an excessive increase in the money supply of a given economy, which results in a rise in the general level of prices over time. <-- read this until it sinks in. Then assfuck... Great Depression http://en.wikipedia.org/wiki/Great_Depression
The Great Depression was not a sudden total collapse. The stock market turned upward in early 1930, returning to early 1929 levels by April, though still almost 30 percent below the peak of September 1929.[5] Together government and business actually spent more in the first half of 1930 than in the corresponding period of the previous year. But consumers, many of whom had suffered severe losses in the stock market the prior year, cut back their expenditures by ten percent, and a severe drought ravaged the agricultural heartland of the USA beginning in the northern summer of 1930.
It feels like now
The What
Someday this war is gonna end…
1:12 – of course they will – as they probably should – but…
If we were really in a severe economic downturn – I wouldn’t have any $ to spend, spend, spend – such confidence building tactics (false or not) only work if people are employed and have some $ for discretionary spending.
1:18, I don’t entirely disagree with you, but on the other hand, I’m not seeing any more homes up for sale in desirable areas of Brownstone Brooklyn than there were in 2006 and 2007 (and I check every day). Maybe it means more sellers on the sidelines, but I don’t think it’s exactly a buyers market. It’s still almost impossible to find more than a very small handful of available 3+ bedroom homes in Brooklyn Heights, Cobble Hill, etc.
The What – do you know what you call someone who sticks to a position and refuse to re-evaluate or even consider contrary facts as they arise?
Answer=moron
You were right – housing prices were a total bubble – credit crisis will result in some serious pain all around – including NYC housing …but your sheer inability to see that the Feds actions as well as the markets, have made your most dire predictions less likely – and recent information confirms this.
Essentially you are proving yourself to be as silly and blind as those people who claimed RE can only go up – just in reverse
“There will always be a demand in NYC douche”
I agree. Demand for sellers, then demand for buyers. The pendulum has swung towards that for buyers. Where’d they go douche?
Apparently The What heard the whistle and had to scurry back to the gravel pit.
BKLove…you’re right…with all the huffing, puffing and hysteria…with the billions in write offs and layoff…Fed comes out and says “Hey you know what? We’re actually NOT in a recession…my bad!” Now, with all the stimulus going into the economy, merger mania and the election…we probably will miss the recession altoghether, but just barely…
“we still havent had a single quarter of negative growth (.06%+ announced today)”
The “elite” will do anything (spin the GDP numbers) to convince you that we are not in a recession so you’ll go out and spend, spend, spend.