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]
wow seriously brickover? ugh. i always wondered why i passionately detested that horrible salmon pink rag.
*rob*
The Observer is written by the perspective of its owner. He is a 30 year old who inherited a billion $ business from his father. And no matter what he does Ivanka will always be tref
My point, which may seem strange, is that $170K or whatever isn’t actually enough to pay for a 2-bedroom condo, especially considering you can rent the same space for half the cash.
I am gonna have to agree with Wine Lover.
One of my relatives has been living in Williamsburg for almost twenty years. She just graduated from Cornell Law School at age 27 and landed a job at a law firm that will pay her $170K/year. She still loves her neighborhood and like those new condo constructions.
As the owner of a three-family house, I understand that condos make much less sense financially speaking. But if you can afford it and don’t want to deal with tenants or house repairs, then why not? What other options do you have? Buying a crappy co-op with crazy board rules and no washer/dryer in the apt?
quote:
In 13 years, when I’m finished paying my mortgage, I am certain it will only be better, and most of you will still be complaining, and renting.
and say hello to me to your new section 8 neighbors on your floor.
*rob*
The article states their occupations. The two first mentioned are in finance, but obviously feel they are way too cool to be. My guess would be that the 27 year old can afford her apartment on her own, but the 23 year old is getting help from her parents.
I’m 30, and purchased my condo in Williamsburg 2 years ago. I purchased at 30% less than market and, put 20% down. I didn’t get a handout from family, and I make less than 100k a year. I have been working since was 14, and have saved 20% from every check and bonus I have ever received. A lot of you need to stop complaining about what you haven’t been able to accomplish, and start noticing some people actually work their asses off to get ahead. You can keep mocking the Burg all you want, but the fact is it’s a great place to live. In 13 years, when I’m finished paying my mortgage, I am certain it will only be better, and most of you will still be complaining, and renting.
Um… yeah, maybe we’re irresponsible, feckless and carrying a ton of law school debt, but we can’t afford that crap — so I also wonder, often, who are these people?
And if they have the downpayment, why on earth are they wasting it on 600 square feet of drywall and a fancy fridge?
dipster, can you do my 2003-2004 state taxes for me before they haul my ghetto ass to jail?
*rob*