Fear (of Condos) and Self-Loathing in Williamsburg
What happens when you mix the snide aspects of hipster culture with the gleaming new developments that have popped up in Williamsburg, Greenpoint, and Fort Greene? Condo shame, says the Observer. The hipsters who once scoffed at new developments like The Edge or nV are now—ironically, perhaps—experiencing a desire to buy units in these buildings…
What happens when you mix the snide aspects of hipster culture with the gleaming new developments that have popped up in Williamsburg, Greenpoint, and Fort Greene? Condo shame, says the Observer. The hipsters who once scoffed at new developments like The Edge or nV are now—ironically, perhaps—experiencing a desire to buy units in these buildings (gasp!). In the current market, it’s the modern units that are suddenly in the price range of 20- and 30-something new buyers, while the common brownstone fantasy still costs over $1 million. The article chronicles several 20-somethings such as Kendall Turner, 23, who bought a $449,000 one-bedroom in the Ikon building on McCarren Park in Greenpoint, or Nicole Ferejohn, 27, who refused to give in to her condo urges and continues to rent. Those profiled in the article make excuses and apologies; they feel guilt for their un-Brooklyn-y purchases; but in the end, perhaps the point is that if you price it low enough, they will (begrudgingly) come.
Condo Shame [NY Observer]
Heather – I lived on Wayne Street – near Dixon Mills
I LOVED my old Apartment – was huge and on such a pretty street! Where did you live?
Quetal:
You are my new favorite poster. You are sensible, and I think we have similar stories. Besides the cost of housing, I find NYC to be extremely cheap. I’ve found an entire wardrobe worth of vintage clothing (mostly big names like Dior, Yves Saint Laurent, etc) for probably 500 bucks over the years.
That’s about the same as some of these chicks in that article probably spend in one weekend at Bird.
Some of my most fun time spent in this city has been the times I’ve spent little to no money at all.
Six, I understand what you’re saying about hypocrisy. People working in finance are *not* hipsters (and it’s funny to me that they aspire to be). That said, I think it’s clear from the many spirited discussions on this blog that we all create our identities, in part, from where and how we choose to live. As we all know, even choosing to live in Brooklyn rather than Manhattan is a major statement in NYC. Isn’t there a chance that most of us would probably like the investment banker who elects to live in Williamsburg better than her colleague who lives in Murray Hill? Living in B-Burg, or anywhere in Brooklyn, does say something about the person’s values and interests.
As a 40 yr old helping out my parents….
I would say not to get all bothered and envious about 23 yr olds affording such places if they are getting parental handouts, because it says nothing about your own progress in not being able to buy one at 23 without a parental handout.
What I think seems to be missing from this discussion is the acknowledgment that people with money have ALWAYS handed this wealth off to their children in various forms. New York City is the wealthiest city in the country, and is where the term “old money” was born America.
That term implicitly implies that money is transferred from one generation to the next.
You might not agree with it, you might be jealous of it, but it doesn’t change the fact that this is how the world works.
This thread is really showing some ugly jealousy in a lot of posters.
I never took any parental assistance until my thirties, when I really wanted to quit my job and still have health insurance until the baby was born. I’m still not ashamed of that, as there was no way I could have handled the sixty-hour weeks of earnings that started at 5AM while being really damn pregnant.
And gemini, were we neighbors in downtown JC? We had a $1K/month apartment there too.
If my family offered, I wouldn’t turn down a downpayment… I’d just be very, very careful what I used it on. I’m not at all bitter that some people get help or make more money or save more than I ever have — I’m flabbergasted that they squander their good fortune on real estate that looks like A Really Bad Deal. $450K for a brownstone in bed stuy? Probably a sound investment. The same money for a drywall box next to a blighted construction site next to another blighted construction site next to a toxic park? Notsomuch.
Heck of a Job:
Here’s my personal story:
My parents divorced when I was 5. My father lived in a rental apartment in queens until his death a few years ago. He worked at the same job for 45 years. never spent a dime on clothes, vacations, nothing! He gave my mom $85 a week in child support until I was 18, she was a NYC teacher. He helped me pay 1 semester of college and the rest I did in student loans and worked at a full time job while going to school full time.
My dad was a hard scrapper queens type – beleived in hard work. He gave me gifts on Bdays and Christmas.
He dies and I was shocked to see he had left me his only child, a sizable inheritance, enough for a downpayment on the building in Park Slope I own today!
The lesson I learned: I learned to work hard, sacrifice, save, scrap and never expect anything from my parents.
I had no idea my father had all this money because he chose never to spend it and never to give me too much. His hard line approach is what made me a very independent person and I wish more people were raised the way I was. I don’t believe in giving your kids handouts. I think instilling a good work ethic in your kid is a good thing.
Park Sloper, I think one thing about this article that sets people off is the hypocrisy. Sorry for the following stereotypes, but it’s what people imagine – here you have a bunch of young hipsters claiming to be all urban and gritty and rebellious, who are in fact quite wealthy and wind up pricing others out of the neighborhood. Back to DH’s point about Murray Hill, at least the folks there (again speaking in stereotypes) don’t pretend to be poor for aesthetic reasons.
“but seriously did you live with your parents? Or maybe never bought an article of clothing or perhaps never went out to dinner?”
I moved out of my Parents home when I was 17. I love to eat, and eat out regularly, but not all of the time, and you can buy clothes without breaking the bank. Actually, leaving in NYC, despite the high cost for housing, is incredibly cheap. So much to do for nothing, so many deals to be found. It just being responsible. Sure, I could go out and see a band, and drop a hundred bucks on beers, or I could go out, watch the same band, have just a couple of beers, and still have fun money for the weekend.