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Brooklyn Real Estate Madness
By
Jacob Dobkin
Published Dec 26, 2005
Modified Mar 7, 2008
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By
Jacob Dobkin
Published Dec 26, 2005
Modified Mar 7, 2008
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Forgotten-NY has a great exploration of the Brooklyn Yards-- the streets around the intersection of Atlantic and Flatbush Avenues that will be replaced by Bruce Ratner's giant Nets stadium project. Highlights include the Underberg Building, the belgian block sidewalks at the entrance to the LIRR railyards, and lots of great protest signage. A very timely piece-- given Curbed's recent reports that demolition of these buildings is imminent (others, including Callalillie, went by the area and said that it doesn't look like anything started yet.) Whatever the case, it seems clear that many of these streets are not going to be around at this time next year.
Somewhat related: Brownstoner has put up his annual predictions for which Brooklyn neighborhoods will be hot in 2006, and Prospect Heights (adjacent to the Brooklyn Yards) makes the list:
On a risk-adjusted basis, we're most bullish on Prospect Heights and Carroll Gardens and, relatively speaking, would bet against Williamsburg. Overall, though, we don't think 2006 will look at all like 2005, which was marked by huge surges in prices in some rapidly gentrifying neighborhoods. From where we sit, 2006 is looking like a year for the market to take a breath and digest all the rapid-fire changes that have occurred in recent years. Barring a big move upward in rates, we think prices will more-or-less move sideways.
Our prediction: if people are willing to pay $8500 per month in mortgage payments to live in a run-down brownstone on a grimey street in Prospect Heights, we're not going to be buying an apartment for a loooooooong looooooooong time. And honestly, that's fine with us.
Tagged
architecture
brooklyn
Brooklyn Yards
Bruce Ratner
carroll gardens
fire
Flatbush Avenues
heights
Neighborhoods
nets
people
prospect heights
protest
williamsburg
Jacob Dobkin
Jake Dobkin co-founded Gothamist with Jen Chung. In 2019, Jake released Ask a Native New Yorker, a book based on his Gothamist advice column.
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Gothamist is funded by sponsors and member donations
Gothamist is funded by sponsors and member donations
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