Bushwick Booming, Or So The Brokers Say
Have you heard the news? Bushwick is hot. “It’s what Williamsburg was in the ’90s [and] what SoHo was in the ’80s,” says Len Moroz, co-owner of Potion Café in the McKibben Lofts building. With the first several condo projects in the area having sold at well above expected prices last year, brokers (hardly an…
Have you heard the news? Bushwick is hot. “It’s what Williamsburg was in the ’90s [and] what SoHo was in the ’80s,” says Len Moroz, co-owner of Potion Café in the McKibben Lofts building. With the first several condo projects in the area having sold at well above expected prices last year, brokers (hardly an unbiased crowd) are predicting that more and more landlords will be converting their rental buildings to condos in the near future. So who’s going to buy all these new condos? “Artsy Yuppies,” says Douglas Elliman’s Lisa Maysonet, who’s had her hand in the sale of several new condos in the nabe. “They’re artsy in look and feel,” she says of the gentrifiers, “but not in occupation.” That is, they have a real paycheck but are still partial to the bed-head look. Do you think there are enough of these folks to fuel a continued condo boom in the area or do you not believe the hype?
Approaching the Summit [NY Post]
Photo by martha martha martha
try Void, poseurs
that website hasn’t been updated in forever.
http://www.bushwickisbeautiful.blogspot.com
that one is a bit more up to date
Like everything in Life, you have to know its past before moving forward.
So do your reserach before investing in the Area. Here’s some information of the things to do in the Neighborhood.
http://www.the-wick.com/index.htm
By “80’s HC records” do you mean hardcore? I prefer 80s synth-pop, so I might be too much of a pussy to make it in Bushwick.
I’ve given up trying to figure out NYC real estate. There’s no logic to it.
Pick the ugliest toxin laden dump in the city and sign up with Corcoran…… people will move there in droves!
I was in Bushwick on Saturday for a friend’s art salon and I was salivating over the loft and the views. But in order to get there from Clinton Hill, I had to rough up my car’s shocks, drive past the building in the photo above, and realize just how vast the economic differences are between myself and the majority of Brooklynites. (Median income for this area: $27K per annum.)
You have to remember that for people with a good salary, the subway is optional; they can (and probably will) drive their yuppiemobile (I put myself in that category, disappointed as I might be in myself).
No doubt it is dangerous, and not right for everyone. But then again, New Haven was once dangerous as well, and it’s blossomed in recent years into a beautiful city without pushing out the residents that have always called it home. Perhaps Bushwick will experience the same.
Why knock Bushwick or fall all over yourself touting its amenities? At the end of the day, it is what it is, it’s fine, but it’s crazy to spend $500/square foot there NOW, today, 19 Apr 2007. I’m not talking about how great it’s going to be next year or the year after–and I’m certainly not going to minimize what’s already great about it. I’m just saying that it would be nice if a housing market could increase at a human pace. A pace commensurate with the actual experience of living in the place.
“I just love the Urban, Hip, Ghetto feel to the area. But yet not too dnagerous. ”
Ugh. Eew. What more can I say? Such descriptions are the reason NOT to move to a neighborhood – maybe Bushwick was once cool but this tells me it’s already over and done with. Starbucks is on the way!
Silvia…
To be honest even the worst parts of Bushwick are better then the worst parts of other bad neighborhoods that are priced higher (hint hint- Bed-Stuy). I’ve invested in the area for the past 2 years around the Montrose and Morgan L Stop. I just love the Urban, Hip, Ghetto feel to the area. But yet not too dnagerous. But let me tell you, I sleep well at night without any noise or loud music being played from a truck with big rims. There isn’t any 24 hour dice games being played in the corner and the commute to other parts of Brooklyn via the L, J or Bus is quick and easy. So please take advice from your client and don’t move to Bushwick, we don’t need you.