TONY on Where to Buy with Kids
Time Out NY may have cancelled its regular real estate guide, but its sister pub, TONY Kids, has picked up a bit of the slack in the current issue with a buying guide aimed at folks with kids. TONY picks the brain of a few local experts. Of Brooklyn Heights, PropertyShark CEO Bill Staniford says…
Time Out NY may have cancelled its regular real estate guide, but its sister pub, TONY Kids, has picked up a bit of the slack in the current issue with a buying guide aimed at folks with kids. TONY picks the brain of a few local experts. Of Brooklyn Heights, PropertyShark CEO Bill Staniford says “I think it will be one of the leaders of the rebound.” I don’t think it’s immune,” he adds about Cobble Hill and Carroll Gardens. “You’ll just need to be in the right place—and ready to pounce—at the right time.” As for Park Slope, the message from Curbed’s Lockhart Steele is that all parts are not created equal: “Prices on prime blocks should stay solid, but still, margins will get hit—think what Curbed calls the G-Slope, where Park Slope gives way to Gowanus at Fourth Avenue.
Real Estate: Is It Time to Buy? [TONY Kids]
“Real Estate: Is It Time to Buy?”
Yes, there are distressed sellers to bail out.
***Bid half off peak comps***
um, not exactly innovative suggestions as far as neighborhoods — how about DUMBO, Downtown, or Prospect Heights?
Hardly nonsense. Over the past year prices for anything that is selling is down 20-30%. One-bedroom coops were selling quickly at $500-700K — now there are listed under $500K and sitting.
“…all parts are not created equal: ‘Prices on prime blocks should stay solid’ ”
Trash. The ‘not created equal’ part was already fixed in the intrinsic values before the obesity. Jenny Craig and anorexia will significantly take down all prices in all hoods. The fundamentals affect everyone and everywhere. There’s no free lunch.
***Bid half off peak comps***
Where are those 475k 2 bedrooms they’re talking about in park slope? And are they more than 600 sq ft?
I agree prices are not moving much in the better neighborhoods of Brooklyn.
I feel more and more like I’ll be back in Manhattan before 2010. The prices are definitely looking right (to rent) in Manhattan v. Brooklyn.
Honestly, at this point the biggest reason I see for staying in Brooklyn is I like the daycare center my kid is in and don’t know if I can get him into a similar place in Manhattan (within a week of moving in, which is the rub…).
The article seems pretty lightweight and cursory for “expert” advice for families making one of — if not the — biggest financial decisions of their lives.
The real expert advice for families right now is “if money means anything at all to you, for the love of all that is holy don’t buy in NYC until the financial crisis, city and state budget crises, and MTA budget crisis are resolved.”
Exactly what I was thinking, Ringo. 25 percent off Brooklyn Heights? What nonsense.
Was about to ask the very same thing. I watch Brooklyn Heights real estate (too) closely, and I don’t think it’s down 25%. Nothing here is selling at all which is, perhaps, a far bigger problem. But there have been so few sales that if they’re talking single-family homes, etc it may be right. If it’s talking volume, than I think it’s really much lower.
Huh? Where do they get these percent off numbers? Percent off what? Is this asking price? Because asking prices mean zippo.