The Next New Brooklyn
We’ve been told Philadelphia is the new Brooklyn, or Brooklyn is the new Manhattan, and sometimes we’ve been told that Manhattan is the new Brooklyn. New York Magazine reprised the latter argument. Prices are falling in brownstone Brooklyn, they say —″Statistics from Streeteasy.com show 38 percent of townhouses suffering price cuts in recent months, averaging…
We’ve been told Philadelphia is the new Brooklyn, or Brooklyn is the new Manhattan, and sometimes we’ve been told that Manhattan is the new Brooklyn. New York Magazine reprised the latter argument. Prices are falling in brownstone Brooklyn, they say —″Statistics from Streeteasy.com show 38 percent of townhouses suffering price cuts in recent months, averaging an 11 percent drop”—and the market is softening in Manhattan. Given the choice between similar prices in two boroughs, apparently some people are saying, “I’ll take Manhattan”—not that we know any of them. Not to worry. Even if fewer Manhattanites have been scouring the borough for deals, all’s well here. “Brooklyn now has its own momentum,” they report. “There are far more pro-Brooklyn partisans than there used to be.” Anybody out there witnessed this move-to-Manhattan phenomenon?
Manhattan: The New Brooklyn? [New York Mag]
View of Downtown Manhattan. Photo by drunkcat.
Z,
To what do you disagree? Is it that you don’t believe in the future of Brooklyn & the high possibility of increasing prices or is it that Brooklyn is destined to be Manhattan East within the next decade. Progress cannot be stopped. We are now 14 months into the Credit Crunch and Brooklyn continues to boom.
Eric Dinallo is making great strides with the monoline insurers to work our way out of this mess. If Brooklyn hasn’t crashed, it most likely never will. Rather than seeing 15% increases year in an year out, we are more likely to see sustainable increases of 5-7% with the outliers being BAM & Downtown which could see 10%. Remember, markets never bottom on great news – alway bad news. 14 months of bad news me thinks signals a bottoming process by Q2 2009. By then, Brownstone Brooklyn will have gone up another 5%.
Get wit it, son!
what exciting things are there to do in manhattan with a baby that one can’t find in many (not all) parts of brooklyn? that’s a serious question – i want to know what i’ve been missing!
I have no idea what you’re talking about McD.
None, whatsoever.
Dragging Montrose into the mix? What in gods name are you talking about? I appreciate, enjoy and love what Montrose has to say.
I was simply pointing out that PropJoe has a script which he/she reproduces word for word. If that’s your idea of smart, I don’t think we have much to say to one another.
Whether or not they should is a kind of scary question, which begs the next question of who decides. they naturally evolve by themselves pretty much- people like to be comfortable and are more so in neighborhoods that are made up of those with similar backgrounds and cultures. I happen to love that about NY- but I don’t view neighborhoods as static, nor owned by any one particular group. I agree there has to be room to grow and change. Maybe the problem lies more in how we do that- I think people feel forced out of their neighborhoods, rather than neighborhoods changing over time as economics and demographics dictate. I just seem to feel that we are seeing greater disparities between the “old-timers” and the New Brooklynites in terms of money and lifestyles, and in closer quarters. My neighborhood, where I grew up, changed over time- the classic white flight, but the African Americans moving in were professionals and working class people, so the change was slower and didn’t feel so extreme as the changes do now.
sorry, i_disagree, missed that comment! you get props for that. no pun intended. (ok, pun maybe intended.)
houseowax:
Sounds like maybe you just might not be in the right Brooklyn neighborhood for you.
I always find it very suspicious when people say a neighborhood is boring.
There are boring people, but if you find Brooklyn boring (a city with more people than Manhattan, and on it’s own the 4th largest “city” in the country) I’d look a little more towards your lifestyle than I would in blaming your surroundings.
Everyone has a different tolerance for boredom I suppose, and I’m not saying you can’t prefer Manhattan over Brooklyn (perfectly reasonable) but boring??
I can walk to more services, restaurants, bars, places that sell lettuce, etc in my current neighborhood than I ever could on the Upper West Side.
11217,
Good catch. I was just being lazy & didn’t want to write a similar diatribe so I cut & past similar thoughts. No harm.
House of wax-tell us how you really feel!
hey, z @ 11:59, where’s my credit!?
oh, and bxgrl, not defending benson. just trying to keep the level of dialogue reasonable. why don’t you get some fresh air? it’s nice outside.