Windsor Terrace: Hot or Not?
An article in the latest issue of the Real Deal looks at Windsor Terrace and sees lukewarm prospects for the neighborhood. Why so? Well, to begin with, one broker says prices in the area are falling. An Elliman broker who recently sold three Windsor Terrace townhouses says prices are down 7.5 percent, and that properties…
An article in the latest issue of the Real Deal looks at Windsor Terrace and sees lukewarm prospects for the neighborhood. Why so? Well, to begin with, one broker says prices in the area are falling. An Elliman broker who recently sold three Windsor Terrace townhouses says prices are down 7.5 percent, and that properties are slow to sell. Other brokers, meanwhile, say a lack of new development in the neighborhood means there’s not enough inventory. And Windsor Terrace home values may fall even more if prices drop in the Slope. My feeling about Windsor Terrace is that as Park Slope goes, the Terrace goes, says Zev Keisch, a broker at Bond New York. If Park Slope shows a slowdown, then people who were compromising by going to Windsor Terrace to be in that area don’t necessarily have to and can look at their first choice, Park Slope, with a greater chance of a successful buy.
Windsor Terrace on Edge [The Real Deal]
Photo by Betty Blade.
Almost all the building in Windsor Terrace was completed by 1965. Few new homes or apartment houses went up after that. But that changed around 2000, when a new building boom got underway.
For a while the long-term residents took an ugly attitude toward development. When the condo building on the corner of PPSW and 16th Street was under construction, fliers protesting the building were mysteriously appearing in local mailboxes claiming that horrible calamities would ruin the neighborhood if the building were built as planned.
The writer of the fliers, who lived on 16th near the new building, used racial terms, like “tipping point” to characterize the pending shift in the neighborhood.
Even Denis Hamill (Daily News writer, former PS and WT resident and Pete’s brother) got into the hatefest, ranting about all the “yuppies” coming in and ruining the neighborhood for the “real people”.
I always wondered how the new arrivals ruined the place when they were paying the old retired city workers huge sums for their homes. Those retired city workers must have complained about the big prices they got before leaving for Florida.
These days, a better class of drunks occupy the barstools at Farrell’s. In fact, the barstools themselves are evidence of a revolution. Even in the 1990s, it would have been blasphemy to suggest barstools and non-Budweiser bottled beer at Farrell’s. Women at the bar? Hardly. Behind the bar? Never!
Meanwhile, WT is not dream territory for dominating retailers. Lonelyville and CT Muffin, no Starbucks. Babbo’s, no Barnes & Noble. Elora’s, no Chipotle Grill. Even ice cream, with Uncle Louis G’s, although somehow the large super-high-fat high-end ice cream retailers are more acceptable than other major retailers. And no fast food joints.
Some interesting people live in WT, or came from WT. Some morons and idiots live in WT as well. I had neighbors who were the picture of a dysfunctional family. Alcoholism, child abuse, illegitimacy, drug abuse, suspicion of murder, and if things continue as they have, a death from lung cancer is in the cards. It’s always a telling sign when the son-in-law holds his wife’s parents in such contempt that he won’t enter their house.
I always liked PS 154. For years it had been overlooked. As a result, it was underutilized. No crowded classrooms, which led to a generally pleasant and successful academic experience for most kids.
I’m with 12:44, but in fairness, the Park Slope hijack was pretty foreseeable in this case. The article above postulates that WT’s “hotness” is related to PS overspill (wasn’t that a Steve Winwood song?).
And BTW, I nominate Brenda from Flatbush for mayor. Her above shoudl be the post of the day.
“i bought my studio in late 2006 for 250K and sold it 3 weeks ago for 364K”
What’s gonna be your next move, may I ask? Plan to jump back in or wait it out?
A friend convinced me to look at the newest condos being built on prospect avenue (thought they were still under construction). When I attempted to schedule a viewing I was told they were sold out. Wow, inventory for the nabe may be low but prices don’t appear to be dropping from what I can tell.
So, when a nabe has low inventory (or lack of new development), it means prices will fall, I thought the opposite.
“I meant in Brownstoner history you tool.
It’s common knowledge that Park Slope hijacks every thread and makes it about Park Slope. I’m getting tired of people bragging about how much they sold their co-op for in a thread that is about a church in Fort Greene (or something totally unrelated)”
So kinda like you hijacking this thread about Windsor Terrace, talking about something not at all related to THIS thread?
Sounds like you’re a lil bit kerzy.
and UWS side is 4 people priced out of UES -and most of UES is for people priced out of ‘classic 6’ Park Ave coops who are people priced out of 5th avenue complete floor duplexes – yadda yadda yadda.
As someone that lives on Kensington/windsor terrace border i have to agree with the people that prices in windsor terrace will most likely move in line with ps since it is seen as an alternative to PS. Obviously there are some people that will just prefer the ‘small town’ charm of the neighborhood but i think most people that choose to live in nyc prefer to have amenities close by. Which windsor terrace is lacking in.
Also i have to agree a lot with the article about tension between old time residents and ‘newcomers’. I know personally my neighbors have been extremely rude to my husband and myself. I could understand their hostility if most of them rented and they feared being priced out but most of my neighbors have lived in their homes for generations.
park slope is for people priced out of the UWS.
12:37
I meant in Brownstoner history you tool.
It’s common knowledge that Park Slope hijacks every thread and makes it about Park Slope. I’m getting tired of people bragging about how much they sold their co-op for in a thread that is about a church in Fort Greene (or something totally unrelated)