Renters Become Their Own Landlords
The New York Times this weekend chronicled the housing woes of Mariah and Dominique Freda, two sisters who started out by playing the rental game in Park Slope. They were leasing a two-bedroom for $2,050, but the poor conditions and the inflexibility of the landlord motivated them to look into buying a place of their…
The New York Times this weekend chronicled the housing woes of Mariah and Dominique Freda, two sisters who started out by playing the rental game in Park Slope. They were leasing a two-bedroom for $2,050, but the poor conditions and the inflexibility of the landlord motivated them to look into buying a place of their own. The buying game turned out to have obstacles of its own, but the sisters eventually settled on a 1,400-square-foot, two-bedroom, three-bathroom condo in Park Slope with a spiral staircase leading to a basement recreation room. The apartment had started out with a price tag of $639,000 but had recently been reduced to $599,000 and had a deal fall through; with some help from Dad, they were able to make an all-cash offer that beat out a higher, competing bid. The common charge and taxes were slightly less than $400 a month. “I didn’t realize how annoying a landlord is until I didn’t have one anymore,” Dominique told the Times. From the article, it seems that the Freda sisters could not have purchased the condo without their father’s assistance, who provided the up-front cash and is acting as the girls’ mortgage lender—a luxury that not all renters have—but their story is also one of renters who persevere to take matters into their own hands.
Theirs to Fix and Fix Up [NY Times]
Photo by Angel Franco for The New York Times
I know many will call me sexist and politically incorrect…but many of the daughters of generous daddies make their choice by marrying someone who is as affluent and generous as daddy. The schoolteacher is unlikely to marry another schoolteacher.
Yeah, I have to agree about that aspect of this issue. I don’t find it weird for two sisters to be live together. Actually kinda nice, in this day and age.
I know plenty of sisters and brothers who live together in the city. It’s really not all that uncommon if they are close and both live in NYC. Often better than a total stranger.
I don’t get why that’s so odd for two 20 something sisters to want to live together.
Yet another example of how irritating some of the brownstoner crowd is. You hate your sister and therefore everyone else must, right?
Oh come on…give it a break. The father is using it as a write off. If structured properly (and if the girls are mature), it’ll be a good situation for all of them.
Also, I think the sisters have a great opportunity to become adult friends here. I doubt they’ll live together forever (heck, it already says they have different hours), but if they are close, they should treasure it. Family is important.
BG- You were right in that case, but every situation is different. If these young women are responsible, and take care of business, I don’t see how anyone cold have a problem with this.
11217- Yes, they did come to CHN and in Crown Heights’ case, it really isn’t here yet. But I know a lot of the old timers from CHN- they have tried for years and worked for years to little avail. But they have managed to get landmarking and in the long run I know we’ll see more businesses and services. Bed-Stuy has seen a real uptick in restaurants and retail. All you have to do is look at Tompkins St. to see its evolution and also at great restaurants like Peaches and Saraghina.
In CHN there is a merchant association but a big part of hte problem is there are only 2-3 landlords who own most of Nostrand and they are not doing anything to help business come in and grow. they charge outrageous rents so small business don’t even have a chance to open and build a clientele.
But on the other hand, if I were looking to spend big bucks in a neighborhood on a house I would do my homework before I bought in. I don’t have much sympathy for homeowners who bought expensive (but gorgeous) houses in CHN and then bitch about the lack of hi end retail. Did they not research beforehand?
That said, the new homeowners who I know are trying to better the neighborhood and its services. They aren’t sitting around complaining that they spent big bucks and where are the restaurants and hi-end boutiques. In that sense I do feel there is a more proactive, do-it-yourself attitude here, because with the way the City treats CHN and Bed-stuy, we don;t have much choice.
Listen, I gave up buying groceries and toiletries for my daughter probably 15 years ago. It was annoying when I discovered she was spending her money on Evian, magazines and the most outrageously priced beauty products and that I was enabling this by providing food and other basics. I said “no”. When she took up smoking (ugh!!!) in grad school I started to flat-out refuse to support her budget so she could spend a small fortune on cigarettes–and believe me, I let her know my opinion!
Bxgrl:
Sorry to take issue with something you said here, because I really do agree with you on most of your points, but you said above that “what I love about neighborhoods like Crown Heights and Bed Stuy is that they are really proactive in making the neighborhoods better- without waiting to be “discovered.””
While I’m sure this is more true than it isn’t, I do seem to recall a NYTimes article not long ago about some residents of Crown Heights wondering where all of their high end retail and dining was now that they have arrived in the neighborhood and spent close to a million smackers for it.
Let’s not be delusional here…most of the newer residents to both of these neighborhoods who spent a pretty penny on their home in the last few years want more high end stuff to come their way. They just might not be as vocal about it as those of us who enjoy those things in our own respective neighborhoods.
on some levels this kind of situation is worse than welfare.
*rob*