Did You Hear? Red Hook Is Hot!
The Post breaks the news today that, yawn, Red Hook is no longer a barren, industrial wasteland. Buried in such earth-shattering headlines, though, are some real estate factoids which, while not big news, are worth taking a quick look at: Property is going for between $600 and $700 per square foot, brokers say. Condos range…
The Post breaks the news today that, yawn, Red Hook is no longer a barren, industrial wasteland. Buried in such earth-shattering headlines, though, are some real estate factoids which, while not big news, are worth taking a quick look at:
Property is going for between $600 and $700 per square foot, brokers say. Condos range anywhere from $550,000 to $850,000; houses are $850,000 to $1.5 million. This is a huge jump from the $450 to $550 per-square-foot prices two years ago.
The story’s star though has to be Red Hook native Gino Vitali, 32, who’s been riding the Red Hook real estate boom since he was old enough to drink: “I’ve been buying [property] here since I was 21,” he says. “I bought my first building for $70,000; it was a corner building, four-family. I sold it for $1.8 million eight months ago.”
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I agree with webster about the perception that Tiffany is too far from the subway. One thing I wonder, however, is whether or not that whole area is protected like Cobble Hill is. That definitely is a nice advantage to buying a building west of the BQE. You can tear it down and rebuild it without having to worry about preservation like you would in the surrounding neighborhoods. I walk 20 minutes to the Bourough Hall subway every day for work. It’s actually kind of nice and relaxing if you ask me, and the proximity to PS 29 is definitely great if you have kids. I have a coworker who owns a brownstone on Thompkins and always takes the bus to Bourough Hall. That’s just lazy 🙂
Anonymous 4:21p,
I never said that I considered Tiffany Place as Red Hook. Read my post more closely.
What I said was that my experience regarding living on Tiffany Place for a number of years has been that people think it is too far from trains etc, and therefore for many of them the idea of Red Hook (the next neighborhood down extending another mile south, starting at the tunnel) is wayyyyy too far.
My apologies if that was unclear.
However, come to think of it, in the sense of old maps, the waterfront below Atlantic Ave has been called Red Hook for a long time, although it is considered “Cobble Hill West” (or Carroll Gardens West” below Sackett) by brokers in recent years, or just Columbia Street Waterfront District.
For these reasons, the port sign at Atlantic and Columbia Street specifically calls it “Red Hook Terminal.”
So, whatever. I just like where I live, (and Red Hook too) and could care less what some folks want to quibble over, in terms of names.
Just commenting about the present media hype, and then the reality of what most visitors / prospective buyers say about Tiffany Place (which is likely to be more the case for the further removed Red Hook neighborhood), based on 6 separate cases of identical results in terms of majority of feedback from 6 separate friends’ apartment open houses / sales processes here on Tiffany Place.
You can only imagine this must be doubly the case for the “masses” that similarly rush to Red Hook properties for showings, only to get out there and spout feedback that it’s just way too far out for them.
And for the record, I already have kids, well aware of what that means for Tiffany Place (less expensive nice back door into PS 29 zone). That was a major reason why I picked Tiffany Place and not something like President or Summit or other streets down here.
So yeah, well aware of that for a long time now.
Article as usual is misleading – but par for course when media does real estate journalism. Just quote the brokers – a real reliable and honest no-spin source.
No way that guy sold for $1.8 in Red Hook – as most people refer to Red Hood and as article implies – south of BBTunnel.
Everything used to be called Red Hook – all of Carroll Gardens, Cobble Hill. But north of tunnel isn’t the Fairway, warehouse, rough-and-tumble RedHook that is the brunt of the new press coverage.
I mean, for real, $600-$700 sq ft that Carroll Gardens not Pioneer St.
hey i paid $140 sq ft for my place in red hook. whoooo hoooooo. go me!
the current prices are stupid.
why buy a condo for $700k when you can still buy a 3 fam all new (albeit crappy) construction for $800.
whatev. i’m going shopping at fairway in my granny cart! eat my dust!
it’s all redhook — would be ok at a substantial discount to other neighborhoods, but recently, you don’t really see that. If the bubble ever bursts, watch out redhook.
i think the area around tiffany place and columbia street north of hamilton ave. is called “carroll gardens west” or “columbia street waterfront”. both are rather new hybrids because no one really knows what to call it. It used to be part of Red Hook before the bqe and the tunnel divided them, but i don’t consider that area red hook.
Tiffany Place is a funky area because it’s right on the border of Cobble Hill and Red Hook. My broker told me it was Cobble Hill, but I’ve read elsewhere it’s Red Hook. My favorite was a post here a few weeks ago that called it “Cobble Hill West.” Either way, I think we get the best of all areas and being on the west side of the street gives us a nice unobstructed view of the skyline. Like Webster @ 12:04 said, sometimes I guess it is nice to have that low pier compared to high rises.
Webster,
You consider Tiffany Place Red Hook? You won’t once you have kids.
Folks, chew on this, it’s a 69 page study of piers 6-12. I have been worried about what will go here for some time. This study is 3 years old, and caused quite a stink at 1 point, because the city pad $500k to do it, then decided to scrap the plans and not release it to the public. An outcry ensued and the report was released, but pretty much with the disclaimer that some of the specific ideas would not be considered. That said, it’s very much worth a read.
http://www.panynj.gov/commerce/Pub-meeting-5-22-1a.pdf