May 19, 2004

9:25 AM

Another NYC Real Estate Question: the SO and I, who have always lived in charming smallish walk-ups with leaky tubs/peeling paint in Queens-like proximity to 'the big city,' have been seduced by the siren song of new construction downtown. With their pre-opening rent breaks, brand-new appliances, and convenience to both work and play, these "luxury buildings" appear to offer a whole new standard of living at an attractive price. However, ... [mi]
posted by hsoltz to (8 comments total)

...we're slightly paralyzed by the thought that the same rent, or less, could land us a spacious yet locationally-challenged loft in Brooklyn. (Everything we're seen is far from a subway.) So which sounds better to you: "location, location, location," or the ability to inhabit opposite ends of an apartment without being able to hear each other?
posted by hsoltz at 9:25 AM on May 19, 2004

if you're thinking Red Hook, go for it..there are big plans for the area, and Ikea's even planning ferry service. Gowanus Canal's being cleaned up too.
posted by amberglow at 10:14 AM on May 19, 2004

Hsoltz, I'm going through the exact same thing with my SO on the other side of the river. I want to stay in Hoboken, where $400,000 gets you a 5th floor walk-up to 600 Square Feet of 19th century construction (if you are lucky, and a VERY fast bidder).

She is pulling for Jersey City, where the same cost will get you a brownstone with a view of the Manhattan skyline (but at the end of the day, you are still in Jersey City).

As always, she's winning. I say go for the better apartment, and screw location, eventually we are going to get to work by hoverboards and teleporters anyway. Seriously though, places near public transit have more than likely already peaked in value, it's the developing areas where the true ROI's lie. Plus RedHook is going to boom ( like Jersey City, we hope ).
posted by remlapm at 10:18 AM on May 19, 2004

I live in Brooklyn - Greenpoint to be exact. There is actually a lot of new building going on in Brooklyn. I live in a new apartment building, new appliances, and it is big, and pay $750 for my half. Now, the down side is that you will have to take the G, or Bus, but there are places in East Williamsburg along the L that are still affordable. Red Hook is on the verge of being totally re-zoned, and I can double amber's ferry talk, but I think it will be one of those fast ferry/water taxis to Wall Street.
posted by plemeljr at 10:23 AM on May 19, 2004

I say go for the apartment, too. I live in Greenpoint, too (and also have a cheap rent). I'd rather have the space. Usually, with more space for the same money, you're also getting a quieter neighborhood, which I prize more the older I get.

However, if you're being tempted by "luxury" apartments downtown, then you may not be the same type of tenant as I am. To me, "luxury" means "a lot of unnecessary crap they're going to make me pay for" and "the facilities will be run-down in under two years."
posted by Mo Nickels at 11:45 AM on May 19, 2004

I worked in Jersey City for a couple of years, and although it's not exactly a happening place, it has great restaurants. Try searching Chowhound for info (though you may have to filter out "Foodmart," since a great many threads are about the amazing Foodmart International story).

As for the original question, what is the location of your locationally challenged loft?
posted by languagehat at 11:45 AM on May 19, 2004

what is the location of your locationally challenged loft?

In an old knitting factory near Pratt and St Joseph's College. You could call it Clinton Hill, but that might be a stretch. The apartment is sizeable; the neighborhood is devoid of much other than a deli.

Perhaps I should reiterate that we've always been "more-space, more charm" loft-type people, and undoubtedly will be again. The better way of phrasing the question might have been, 'would anyone vouch for giving the 25th floor a shot while we're still young and child-free, or is doubling the size of the apartment > doubling the length of the commute?'
posted by hsoltz at 12:01 PM on May 19, 2004

Update: hsoltz and I signed a lease at Liberty Plaza this evening. We decided that the proximity to subway / water / stuff was more alluring than the promise of lots of space out in Clinton Hill.

Both of us work in the city, and will soon have The Best Commute Ever.

Also, it's not like the apartment is tiny tiny. It's about 800 square feet and it's way up on the 25th floor.
posted by bshort at 7:16 PM on May 19, 2004