Outlook 2007: Longs and Shorts
Note: We’re moving this post up from yesterday to encourage more input.Welcome to the third annual installment of our market prognostications. Last year, we picked Prospect Heights and Carroll Gardens to outperform and Williamsburg to slump, which in retrospect look like pretty good calls. As for next year, our eyes will be on the areas…
Note: We’re moving this post up from yesterday to encourage more input.Welcome to the third annual installment of our market prognostications. Last year, we picked Prospect Heights and Carroll Gardens to outperform and Williamsburg to slump, which in retrospect look like pretty good calls. As for next year, our eyes will be on the areas bordering Prospect Park that have the location and housing stock on their sides but have yet to attract widespread interest from the gentrifying crowd. We’d also be front-running the newly Brooklyn-focused Landmarks Preservation Commission by looking in spots like the soon-to-be-designated Crown Heights North. On the downside, it’s hard to see how increasing supply of run-of-the-mill condos coming on line in Williamsburg won’t continue to put downward pressure on prices. We’re not as wary about the effect of Atlantic Yards on surrounding real estate as some and continue to think that Prospect Heights has a lot to offer. As has been mentioned before, quality brownstones should continue to find buyers while those in more marginal neighborhoods and lacking architectural detail will likely have a tough time. Looking back on last year’s post, we can be thankful that we got our wish of a gourmet market (sorta) in the form of Choice. Now if we could just get a friggin’ cheese shop we’d be really psyched.
Market Predictions for 2006 [Brownstoner]
ft. greene
Right back at ya Brownnoser. A happy new year to you and yours…
short – Park Slope apartments, and perhaps also townhouses, as huge inventory comes online on 4th Avenue and in the South Slope
I went ont eh Victorian Flatbush house tour this year and if I am not mistaken the term “victorian flatbush” is a term used for a number of small communities. Cortelyou Road is in Beverley Square West (BSW) and is the commercial strip. Beverley Square East (BSE) I think is the eastern side of the train tracks between Cortelyou and Beverley Roads. BSW is the west of the tracks to Coney Island Avenue. I got most of this information from the brochure put together by the Flatbush Development Corp (FDC) for the tour. Ditmas Park and Ditmas Park West are around Dorchester to Newkirk and one of them is a historic district.
I agree that PLG and Prospect Park South will definitely be hot in ’07. Prospect Park is a huge asset and most of the destinations are located “across the park” such as the Botanic Gardens, Zoo, ice skating, tennis courts, horse stables, drum circle etc. They are also on the express Q/B lines.
I really like the area around Cortelyou in Victorian Flatbush / Kensington/ Ditmas (what are the borders?), which has some good restaurants and shops….Farm on Adderley, Flatbush Food Co-op, Vox Pop, Belle and Maxie, T.B. Ackerson.
The Victorian Flatbush Neighborhoods
(Ditmas Park, Beverley Square West/East, Prospect Park Sout, Caton Park, etc..) are definitely good investments. Cortelyou Road is attracting great new business and the houses are beautiful. Most have a minimum of 10 rooms,porches, long driveways and great yard space. The Q and B train are also close by. I don’t know that bargains can still be found there.
The Victorian Flatbush Neighborhoods
(Ditmas Park, Beverley Square West/East, Prospect Park Sout, Caton Park, etc..) are definitely good investments. Cortelyou Road is attracting great new business and the houses are beautiful. Most have a minimum of 10 rooms,porches, long driveways and great yard space. The Q and B train are also close by. I don’t know that bargains can still be found there.
Just to throw into the mix, i bought in The Casa Lofts (leonard and conseylea) two years ago and have predicted condo glut and decreased value for a while. Surprisingly, my apartment was just appraised for 185K more my purchase price…
The bugaboo stroller is the easiest to push/turn/go over curbs, etc… and, therefore, works best on city streets. It is very expensive but, not having a car and having to get around with a young child, worth the investment for many who live in an urban environment and walk everywhere instead of driving. The $700-$900 they cost is less than most suburban parents pay for the gas they use in their mini vans and SUVs in one month. I don’t understand the strange resentment. I do agree that a lot of park slope parents are self involved and don’t pay attention to those around them – but I agree with the earlier poster that these people were probably equally obnoxious and self absorbed before they had children. For some reason park slope seems to attract this type now. Sad. That is great deal of the reason I moved out of park slope. I didn’t want my children raised like I see a lot of the parents there raising their kids – to feel entitled and all important, etc… This has little to do with the stroller they are pushing, however.
Anyway – back on topic – long any part of Victorian Flatbush. There is nothing like it for sheer beauty, commutability, diversity, etc… Short – the suburbs and over-inflated apartment stock in Park Slope toward 4th Ave, etc…