Park Slope: The Canary in the Coalmine
When we talk about the Brooklyn neighborhoods that are likely to fair best in the market downturn, blue chips like Brooklyn Heights and Park Slope are typically mentioned. But a New York Magazine article yesterday suggests that it’s all relative. While Park Slope may be holding up better than, say, Bedford Stuyvesant, it’s evidently doing…
When we talk about the Brooklyn neighborhoods that are likely to fair best in the market downturn, blue chips like Brooklyn Heights and Park Slope are typically mentioned. But a New York Magazine article yesterday suggests that it’s all relative. While Park Slope may be holding up better than, say, Bedford Stuyvesant, it’s evidently doing a whole lot worse than Tribeca, which is the article cites as the richest neighborhood in the city. As the chart, at right, shows (with data provided by Streeteasy), one-bedrooms are up 23% over the past year in Tribeca while they’re down 2% in the Slope; three-bedrooms are up 26% in Tribeca and down 14% in Park Slope. Does this suggest a relative weakening for Brooklyn as a whole versus Manhattan going forward?
Where Boom Meets Bust? [New York Magazine]
C’mon now – there are so many pain in the ass mom’s as well as holier than thou hipsters in PS. Attitudes abound in all walks of life the difference is there is a baby/child at stake. Honestly, all I want as a relatively new Dad is to live life and play happily with my kid. I;ve gotten dirty looks and have been places with nothing but families all through the Slope but just remember this – I left all my criminal days behind me but if anyone – skinny jean wearing skateboader or Lexus driving Goldman Sachs I-Banker touches my baby I’ll turn into the dirtiest mother fucker you ever saw.
I’m walking around with a stroller and it wouldn’t be the first time I had to correct someone so let’s treat one another politely and remember there are some crazy folks out there. Really crazy.
As a real estate investor in Manhattan and Brooklyn with over 30 years experience, I will tell you the cold hard truth. Real estate prices are going to nosedive far more than anyone is anticipating. We are headed for a great downward correction in prices, with many owners losing huge amounts of equity. Banks are doing an about face now and tightening up credit to an extent not seen in 30 years. Without easy mortgage money, and huge down payments, vast numbers of potential buyers are being totally eliminated from the market. Credit earthquakes such as what we’ve just seen at Bear Sterns are only the beginning of a major credit contraction. This will have a ripple effect throughout our economy, creating major dents in earnings and salaries across many different industries and occupations. Wall Street and the financial district will take huge hits, and buyers ability to pay grossly overvalued prices for area real estate will have vanished. We will all be seeing 25% to 35% drops in the value of real estate before this correction is all over. Just brace yourselves people.
sorry, losers. The obnoxious and ubiquitous stroller mom phenomenon is NYC-wide. Park Slope in no way has the monopoly on these people. See this post and note the pacifier comment.
http://curbed.com/archives/2008/03/26/carroll_gardensboerum_hill_attacked_by_strollers_skateboards.php?
10:45, you are delusional.
“the moms who live there think they are gods gift to mankind.”
We are.
2:49 & sam: hee!
12:41 aww, you musta got your sternum poked today. boo hoo! have a little cry and get over yourself!
“Now that I’m in a good frame of mind I will restrain from using foul language. I can get my point across without using it.â€
I’m SO impressed with Mr. What’s new frame of mind! I can’t help but think that this is just the first phase of a total transformation. Who could possibly guess what the next phases will be? Let me try:
PHASE II: He starts using better grammar.
“Some day this war is going to end…â€
“Perhaps this war will end, some day…â€
“Some day this war will abate…â€
PHASE III: He registers, and eschews faded type.
PHASE IV: He moves to Brooklyn.
4:53’s mommy smoked and drank during pregnancy. And turned tricks.
delete this profanity. please be civil. wash your mouth out.