Not-So-Bitter Renters Embrace Brooklyn
Brownstone living is no great shakes, say people profiled in this week’s Times’ real estate section cover story. The premise of the article is that there’s a new crop of Brooklynites who go ga-ga over our borough’s condos-turned-rentals because they’re much cheaper than similar full-service buildings in Manhattan. These renters say they’re not interested in…
Brownstone living is no great shakes, say people profiled in this week’s Times’ real estate section cover story. The premise of the article is that there’s a new crop of Brooklynites who go ga-ga over our borough’s condos-turned-rentals because they’re much cheaper than similar full-service buildings in Manhattan. These renters say they’re not interested in trad brownstone living because it lacks newfangled amenities, and they don’t want to buy a condo in today’s market. My peers who have their M.B.A.’s and their new master’s degrees and new jobs, they’re looking for new condos; they’re not into the traditional houses or brownstones, says a guy who rents a $2,550-a-month pad at Bed-Stuy’s The Mynt, above. This is the lifestyle we like. You cannot put a fitness center in a brownstone. You don’t have a doorman in a brownstone. Rentals are increasingly in demand, according to stats from StreetEasy that show Brooklyn rents rising 6 percent over the past year and sales prices falling 4 percent. If this is indeed a trend, one wonders how long-lived it’ll be. If more new buildings are planned as rentals rather than condos, how many developers are going to outfit their buildings with pricey condo-style trappings?
They Love (the New) Brooklyn [NY Times]
10:59- typical judgemental answer well- grounded in ignorance. Assuming you know the lifestyles of people who rent is about as correct as your assumption you have the intelligence to assess it.
Owning is only one of the many choices you make in life.Since you look at everything through the lens of ownership of real estate I can pretty much guess what your life is like- you do no volunteer work because time is money, you never contribute to charities because they might help people who have the stupidity to live in New Orleans- a city with a levee, for g-d’s sake!-,you refuse to help a relative or a friend because if they had bought like you did all their life problems would be non-existent, you have no curiosity so you don’t travel, you like McDonalds and never go to a good restaurant, you own a 12 inch black and white tv so you don’t go to the movies, you illegally download music and movies because the money goes into your mortgage, and you pirated your copy of Windows Vista for the same reason. Oh – and you rented the apartment on your top floor to your sister because you can’t afford to pay your mortgage without a tenant.
The article does promote irresponsible renting habits. Most of these folks with a little bit of initiative could be owners.
All these new Condos in Brooklyn are nothing more than urban Mini-McMansions. They’re for people who want identical, characterless square footage, kitchens with granite counters and high-end stainless appliances, master suites with walk-in closets, and huge master baths with double sinks, soaking tubs, and walk-in showers. The lobby takes the place of the double-height entry. These condos are essentially identical to the McMansions we all say we hate–theya re nothing more than urban vertical sprawl. And they are the death of Brooklyn.
10.59 – Everyone should take vacations they can’t afford, otherwise you’ll look back on your life and just regret what you didn’t see and do. Unless you’re hoping to go there when you’re dead.
i didn’t find the article very compelling, nor was its content very surprising. the thesis just as easily could have been, “the things some young, single professionals want in manhattan are not so different from those things some young, single professionals want in brooklyn.” not really news, in my view. next weekend, i think the styles section should do an article on: “some women in brooklyn don’t prefer sensible shoes.”
10.59 has been reading too much Horatio Alger … owning property does not = social virtue. Please get over yourself.
Plenty of renters “save” their $$$ too.
ahhh, the trust fund myth.
bunch of trust fund brats……….an i’m an owner myself but i don’t find the need to blow my own horn about it……what a bunch of self absorbed losers on this board. do you want a medal or a chest to pin it on?
No gap between the “haves and have nots”, only between the “will and won’t do’s”.
There are a wide range of ownership options in Brooklyn, provided that one is willing to sacrifice, save, and be flexible about where to live. Plenty have done it in the past and plenty more will do it in the future.
Meanwhile, those who elect to spend their money on cars, dinners out, getting drunk, and taking vacations they can’t afford will ensure landlords a permanent class of renters.