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
Obviously DH you are a spendthift, profligate, no good, spoiled, lazy person. Your parents have raised you to feel entitled and elitist. 🙂
“not everyone can” really seems to mean “not everyone can in the neighborhood or building that they want”. Brooklyn does have something for everyone and 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.”
*this just in*
DH’s parents bought him groceries and toiletries this weekend – be on the lookout for NYTimes article about a shift in consumer spending habits for under 30 year olds in NYC.
I think we all agree that the NYTimes article was a bit annoying as these articles usually are. But, indeed, it *is* about *something* that has recently happened: a father in NJ who financed his daughters getting an apartment together in Brooklyn. Not exactly a “perseverance” story but nonetheless an occurrence in the real estate market…
In the end, I have to agree with Benson more than with Townhouse Lady. My father squandered a small fortune…the classic “wine, women and song” (you can throw “fast cars” into that mix) and, as a side note, predeceased his own mother (who, although she supported a lot of his adventures over the years was astute enough to hold back sometimes). Luckily, my aunts and uncle were more altruistic and involved with many charities and not-for-profits. They got involved in many organizations and worked hard in their chosen careers as well.
All in all, my father was probably a classic example of the spoiled son who had too much handed to him. Because of his example, I have tried to be very circumspect and think twice before the generosity reflex kicks in. Let the kids wear out their stuff. It used to be clothes, and junk…now it’s computers, cars and the like– let them make their own choices on what they can afford. It is not a good idea to always rush in as the deus ex machina mother.
“In the 70’s when I was growing up, anyone could live in Brooklyn but few wanted to. Now that everyone wants to because it’s improved so much, not everyone can.”
You’re right about this, Brooklynative. Still, I grew up here, always wanted to live here and never seriously considered living anywhere else.
OK snowbunny, that’s enough about East New York. It’s a tough neighborhood I agree, but there are actually are some OK sections and plus, I grew up there, so it can’t be ALL bad!
M4L 🙁 Well, who told you to do that?
Some of you come across as so incredibly jealous and bitter, it’s not even funny.
What a bunch of whiners.
bxgrl, unfortunately I read all this b4 lunch
M4L- we’re working hard here to give you lunchtime reading material. A little gratitude please 🙂