[bimmerfrk]

Originally Posted by NEFARIOUS

OK, I am completely clueless when it comes to NYC (even here in LA; I was shocked to hear that Compton isn't as bad as it used to be), which I have been entertaining the thought of going out there for a while to hang out with my cousin. I've heard Queens is cheap but decent, but what area is lower priced, but not ghetto?

Uh depends on what your definition of cheap is. Queens is being pushed up as well.

I mean think about it, there is no shortage for demand of a place to live in nyc. Someone is always willing to pay more than you, a $1, $100, $500, WHATEVER....

Its also about the commute as well. Commuting is expensive. Roughly 115 a month for MTA ticket. If you live in the burbs like myself it goes up to 575 as my wife and i both work in the city. All these additional add up quickly.

So when you look at work and salaries they may seem huge in nyc but 100k is the equivalent of 60k in any other small city in the US because of the costs that come with living here. Median income in nyc is 50k I have no idea how people fucking make it on that salary, especially with a family and mouths to feed...

[pgviper]

Agreed, it is true. DUMBO and Brooklyn Heights have absolutely insane prices per square footage even when compared to Manhattan, I usually use http://www.brownstoner.com/ as a source.

But to say people are moving back to manhattan is a huge generalization. I enjoy these two neighborhoods, particularly BH because of how quiet and beautiful it is. I have the promenade outside my door and brooklyn bridge park 5 minutes away. I rather look at and enjoy the views of manhattan than be inside of the bustling city walls itself. How great is it being 5 min from wall street, or 20 min from penn (subway) but when you come home at night, you can safely walk outside and have complete silence. For me, thats what makes it worth the price.

[RedlinePSI]

Originally Posted by pgviper

Agreed, it is true. DUMBO and Brooklyn Heights have absolutely insane prices per square footage even when compared to Manhattan, I usually use http://www.brownstoner.com/ as a source.

But to say people are moving back to manhattan is a huge generalization. I enjoy these two neighborhoods, particularly BH because of how quiet and beautiful it is. I have the promenade outside my door and brooklyn bridge park 5 minutes away. I rather look at and enjoy the views of manhattan than be inside of the bustling city walls itself. How great is it being 5 min from wall street, or 20 min from penn (subway) but when you come home at night, you can safely walk outside and have complete silence. For me, thats what makes it worth the price.

The Brooklyn Heights area is probably the only part that is very nice and even understandably expensive. The rest of it is overpriced garbage for suckers who care more about telling people they live in "hip" bklyn, than the fact that they spend $2000 in rent for a tiny run down place and just watched two rats hump at the foot of their bed, AND need roommates to pay the real rent. And if you wanna be in a new building (god forbid park a car), you better bring lubricant.

Regarding the point of the thread, I agree that it would be a huge exaggeration to say waves of people are flocking back to Manhattan. However, it is very true that anybody who takes an extra second to compare areas will see there are better deals in the city now. It's been that way for a while now. The real question is, do enough people care?

Brooklyn keeps changing, the gentrified areas keep expanding, while center mass grows too expensive for the people who once pushed out the poor. Simultaneously other areas in the tri state region pop up as new hip spots. Bottom line is expensive buildings are taking over all areas around the city. Soon all new buildings will need to have rich and poor entrances and/or sit right next to ghetto areas (which is basically how it is now anyway). And even if you do manage to move in, your rent will almost certainly keep going up. It only makes sense for people who have bags of money and just want to experience it for a few years.

[pgviper]

Originally Posted by RedlinePSI

The Brooklyn Heights area is probably the only part that is very nice and even understandably expensive. The rest of it is overpriced garbage for suckers who care more about telling people they live in "hip" bklyn, than the fact that they spend $2000 in rent for a tiny run down place and just watched two rats hump at the foot of their bed, AND need roommates to pay the real rent. And if you wanna be in a new building (god forbid park a car), you better bring lubricant.

Regarding the point of the thread, I agree that it would be a huge exaggeration to say waves of people are flocking back to Manhattan. However, it is very true that anybody who takes an extra second to compare areas will see there are better deals in the city now. It's been that way for a while now. The real question is, do enough people care?

Brooklyn keeps changing, the gentrified areas keep expanding, while center mass grows too expensive for the people who once pushed out the poor. Simultaneously other areas in the tri state region pop up as new hip spots. Bottom line is expensive buildings are taking over all areas around the city. Soon all new buildings will need to have rich and poor entrances and/or sit right next to ghetto areas (which is basically how it is now anyway). And even if you do manage to move in, your rent will almost certainly keep going up. It only makes sense for people who have bags of money and just want to experience it for a few years.

I'm not sure exactly what to take from that lol.

One point that I would like to add from my own experience is that prices of studios and 1 bedrooms are rocketing specifically because parents are buying apartments with their own money for their children. They are emotionally bidding and have the means to drive the prices of apartments through the roof. This seems to be a big problem in as I mentioned, Brooklyn Heights (with brooklyn law right on the border), Cobble Hill, Park Slope and Carroll Gardens in regards to Brooklyn and I am sure is the case in Manhattan. Personally I don't see the hype of "Brooklyn", I see the hype of brooklyn heights, like you mentioned but def not brooklyn in general. I can see people moving to wherever is most convenient for their work life balance. Getting around NYC and any of the five boroughs is tough and minimizing the amount of time that you spend traveling is definitely crucial. Similar to how being near a highway is iimportant on long island.

To the OP, there was an article that I read before saying how it is the end of an era of people moving out to long island and has now shifted to people moving back into the city. I'll try to find it... Being someone in the market looking to buy right now, I don't see the appeal of long island anymore, I grew up in suffolk county my entire life, lived in brooklyn for the past couple years and as far as purchasing a home, I am looking in brooklyn. Long island is turning into an extension of queens and it frustrates the hell of me. Merrick road seems to be the new queens blvd, peak times, you will be sitting at the same traffic light for a minimum two times around. Its just not the same as it used to be. Also, unlike the city, no matter what you need a car! Nothing is walking distance.

If I could do it again, I would move down south but thats just not an options anymore. Ohh well...

[RedlinePSI]

Originally Posted by pgviper

I'm not sure exactly what to take from that lol.

One point that I would like to add from my own experience is that prices of studios and 1 bedrooms are rocketing specifically because parents are buying apartments with their own money for their children. They are emotionally bidding and have the means to drive the prices of apartments through the roof. This seems to be a big problem in as I mentioned, Brooklyn Heights (with brooklyn law right on the border), Cobble Hill, Park Slope and Carroll Gardens in regards to Brooklyn and I am sure is the case in Manhattan. Personally I don't see the hype of "Brooklyn", I see the hype of brooklyn heights, like you mentioned but def not brooklyn in general. I can see people moving to wherever is most convenient for their work life balance. Getting around NYC and any of the five boroughs is tough and minimizing the amount of time that you spend traveling is definitely crucial. Similar to how being near a highway is iimportant on long island.

To the OP, there was an article that I read before saying how it is the end of an era of people moving out to long island and has now shifted to people moving back into the city. I'll try to find it... Being someone in the market looking to buy right now, I don't see the appeal of long island anymore, I grew up in suffolk county my entire life, lived in brooklyn for the past couple years and as far as purchasing a home, I am looking in brooklyn. Long island is turning into an extension of queens and it frustrates the hell of me. Merrick road seems to be the new queens blvd, peak times, you will be sitting at the same traffic light for a minimum two times around. Its just not the same as it used to be. Also, unlike the city, no matter what you need a car! Nothing is walking distance.

If I could do it again, I would move down south but thats just not an options anymore. Ohh well...

Well, i'm not exactly sure what my point was. haha

No I think the bottom line is, as you said Brooklyn is just overhyped, but I think people know that by now. Except for the prime waterfront the rest of it is really not that nice (considering the price it demands). So unless someone has loads of money (or their parents do) go ahead and burn it to live there for a while. Obviously it doesn't matter in those cases. It is definitely a lively area if that's what people want; friggin all night long in some main areas. But beyond that, I see so many other people tough it out there who can't really afford it. They bend over backwards and empty their wallets just to live in what they think is a "cool" area. It just doesn't make sense. There are many other, nicer areas for the same or less money. I guess some people are just city people, and don't care much about expanding out to do things. They are happy when they can say everything they need is within walking distance. Just seems so boring to me. The same shit day in and day out. Personally I like my freedom, to get in the car and blast anywhere I want. Also many of the people in those areas are transplants, no car, and just came to get the full city experience.

At the end of the day they get you either way. You want to live close to the city you will pay more rent, sacrifice square footage, pay (more) for parking, and pay city taxes. Go out to NJ, CT, or LI and you get more for your money, park for free or at least pay less, and no city tax, but pay for the railroad. On purchases, how maintenance fees compare to suburban property taxes I am not sure but both are crazy high.

For me personally, I looked basically everywhere, and finally did the calculations for the last two considerations, and overall it was slightly cheaper to rent in Nassau compared to Queens and the place/neighborhood is much nicer. Oh and it's the same time to get to the city. It's actually faster for me to get to Chelsea than it is for most of Brooklyn.

[bimmerfrk]

Actually im thinking of putting a bed in our datacenter and sleeping there. Why bother paying rent or a mortgage.

[NEFARIOUS]

Originally Posted by bimmerfrk

Uh depends on what your definition of cheap is. Queens is being pushed up as well.

I mean think about it, there is no shortage for demand of a place to live in nyc. Someone is always willing to pay more than you, a $1, $100, $500, WHATEVER....

Its also about the commute as well. Commuting is expensive. Roughly 115 a month for MTA ticket. If you live in the burbs like myself it goes up to 575 as my wife and i both work in the city. All these additional add up quickly.

So when you look at work and salaries they may seem huge in nyc but 100k is the equivalent of 60k in any other small city in the US because of the costs that come with living here. Median income in nyc is 50k I have no idea how people fucking make it on that salary, especially with a family and mouths to feed...

Well, again, not cheap in the sense of it being a predominantly working class/projects neighborhood, or an area where an Asian/White guy would get shot (if what I hear about Harlem is true)... But just somewhere that's decent. What does rent go for these days around there?

[bimmerfrk]

Then try out east new York. Not the safest, but can probably find a 2 bed room for around 2k....

[bkM3]

i live in the midwood section of brooklyn and currently rent a 3 bedroom 1 1/2 bathroom apartment in a 2 family house for $1,900 inclduing parking and a balcony (i know, crazy right?). the house is pretty old but interior was recently renovated and floors were restored to the original parque. its also 2 blocks away from the Q train which is about a 35 min ride to my office in midtown.

all things considered, what im paying is considered a steal but if you know where to look you can get a good deal in a neighborhood where you wont get shot (east new york)