My NYC Black Folk......Gentrification

HarlemUSA

HarlemUSA

Lightbringer and Azor Ahai
Supporter
Joined
May 26, 2012
Messages
6,295
Reputation
450
Daps
11,584
Captain_Crunch said:
My mom owns a home in Harlem near King Projects, the apartment upstairs is about 2k(2BR; washer/dryer). If you want a basic no upgrades 1 bedroom, you'll prob be paying 1300+. It sounds like you're just starting to get money, I'd advise you to just live somewhere like Eastern Queens for the cheap or at home. Stack your money up and get some property in Southern or Mid-Western cities.
Click to expand...

I'm not trying to rent. I want to own.

Does she feel like it's worth it to rent it out? Any problems with tenants not wanting to leave? Does she have a certain criteria she is looking for when she rents it out? Most people I talk to have negative experience

All these new three family homes i like in the bronx are in the hood (soundview, motts, Jackson ave) :beli:
 
tremonthustler1

tremonthustler1

aka bx_representer
Joined
Apr 30, 2012
Messages
83,284
Reputation
9,091
Daps
206,379
Reppin
My Pops Forever RIP
ogc163 said:
StreetEasy: 2831 University Ave. - Townhouse Sale in Kingsbridge Heights, Bronx

:lolbron::lolbron::merchant::merchant:

We need to start posting some of the more ridiculous listings out there
Click to expand...

:huhldup: that's not that far from me at all. That's by Lehman College.


When I moved from Tremont to that area my parents almost moved to a crib between University and Claflin.

Now the house was kinda nice, I won't lie, but when you live there, if you're not directly on Kingsbridge, you're pretty much by yourself. You gotta be real anti social to live there cuz it's just college commuter kids, HS kids, and parkland with a big ass reservoir. Instead my parents chose to move further down by the Deegan. The crib was cheaper, not an apartment, CONVENIENT AS fukk (that was big cuz I was still going to school in Tremont and later on 164th), and you were still around stuff. Almost 2 decades later when you see University Heights /Kingsbridge, my parents did the right thing.










































































Unless someone actually pays that much to live on University Ave. Then I retract everything I said :whoa:
 
T

TLR Is Mental Poison

The Coli Is Not For You
Supporter
Joined
May 3, 2012
Messages
46,178
Reputation
7,463
Daps
105,790
Reppin
The Opposite Of Elliott Wilson's Mohawk
50CentStan said:
Why not brother?
Click to expand...

Because the BX is a very complicated market. Its very block to block and there are still many places that are basically uninhabitable. Odds are if property is cheap there its for a reason. Hell there are shytty properties for sale for big money now. Stay out of there.

Not to mention being a NY landlord is :damn:. You would be better off just buying stocks or something (seriously)
 
newworldafro

newworldafro

DeeperThanRapBiggerThanHH
Joined
May 3, 2012
Messages
50,781
Reputation
5,085
Daps
114,485
Reppin
In the Silver Lining
newworldafro said:
posted first page........adding space to buildings by buying up other buildings' air rights... :ehh:.....better than 275 sq foot apartment...

http://www.nytimes.com/2013/02/24/realestate/the-great-race-for-manhattan-air-rights.html

The Great Air Race

24AIR1_SPAN-articleLarge-v3.jpg

Air rights were pertinent to the development of Isis Condominium on East 77th Street.


By ROBIN FINN

Published: February 22, 2013

Because a room with a view has always been preferable to one without, the price of air in New York City is becoming more expensive. Yes, the air is for sale, but not on sale.

And not the dodgy urban air the city’s eight million inhabitants breathe as they scurry around the boulevards, but the rarefied and fast-disappearing air overhead where condominium towers do not fear to tread, and rooms with sunlit windows can make the lucrative difference between a legal three-bedroom residence and a mere two-bedroom with a den/office.

With Manhattan’s skyscraper-proof bedrock in finite supply and the city’s fixation on housing and envelope-pushing office buildings on the upswing — and also the impetus behind the proposed rezoning of 70 blocks around Grand Central Terminal called Midtown East — the sky is not only the limit, it’s the solution. Ubiquitous developers-about-town like Gary Barnett, Harry B. Macklowe and the Zeckendorf brothers are all not-so-secret members of the air appreciation society.

“When I tell people outside of New York that I’m buying air from other building owners, they look at me as if I’ve lost my mind,” said Kenneth S. Horn, the president of Alchemy Properties. His 18-story Isis Condominium at 303 East 77th Street acquired air rights from two adjacent tenements; it cantilevers eight feet above the roofs of both of them beginning at the sixth floor. The payoff for this complex and expensive undertaking is 360-degree views, more spacious apartments, abundant light and higher resale value.

“If the real estate gods line up,” Mr. Horn said, “and I find a site in a friendly neighborhood where I can and do buy air rights, and then let’s say I can’t build any higher, but if they let me cantilever, I can create views and add square footage to my project.”

Air rights are, in actuality, not fluffy chunks of available or orphaned air. They are unused or excess development rights gauged, like building density or lot size, by the square foot and transferable, when zoning permits it, from one buildable lot to another. They have become the reigning currency of the redevelopment realm, major components in the radical vertical transformation of the city’s skyline.

These days developers don’t just tailor their blueprints to the lot they own: they often annex, for fees that can run into the multimillions, the airspace above and around their property. The process, essentially an invisible merger of building lots that tranlates into taller, heftier towers with increased profitability, is emerging from a minislump dictated by the economy.

“The trading of air rights is more prevalent than it’s ever been before,” said Robert Von Ancken, an air-rights expert and appraiser who is the chairman of Landauer Valuation and Advisory Services, “and it’s why you’re seeing these monster buildings springing up all over town. All of these new supertowers that are changing the look of the city’s horizon, they couldn’t happen without air-rights transfers.”

Mr. Von Ancken estimates that air rights trade for 50 to 60 percent of what the earth beneath them would sell for. Once sold, they are gone for good, a detail that occasionally adds a serious stress component to negotiations.

Unless the property doing the selling is a designated city landmark, these deals are usually restricted to properties that share at least 10 feet of lot line. Landmarks can sell their unused air rights to neighbors across the street or down the block.

Not all small-fry neighbors opt to sell: “We get turned down more often than not,” said Michael Namer, the chief executive of Alfa Development, who bought air rights to expand two of his downtown condominium projects, the eight-story, 36-unit Village Green on East 11th Street, and the nearly completed 14-story, 51-unit Chelsea Green on West 21st Street. Both are in height-restricted neighborhoods.

“There are people who believe in skyscrapers and people who don’t,” he added, “and you can’t do the Hudson Rail Yards and you can’t do One57 without air rights, but that’s not really the issue. The city Planning Department has taken steps to ensure that the way we sculpt our city is something that makes sense in terms of light and air. The reason behind the big increase in air-rights trades is that, bottom line, they can make the difference between a marginal and a profitable project.”

Post-recession, the air above New York City is its own best marketing tool.

“It’s coming back with a vengeance,” said Robert A. Jacobs, a land-use specialist and partner at Belkin Burden Wenig & Goldman. “The technology available is such that if you’re a developer of a residential property you should build as high as you can, because you get the higher sales price for the higher floors. The race to accumulate light easements and air rights is tied to the mandate for these high-priced condos to offer views worthy of the purchase price,” added Mr. Jacobs, who lectures on air rights at the city bar association.

If there is a danger inherent in them, it is the potential, Mr. Jacobs mused, for a city dominated by towers that overshadow the rest of the landscape.

-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

Norfolk Street's Glassy New Pendant Tower Unveiled - Mindboggling Reveals - Curbed NY

100norfolkwhoa_2_13.jpg
Click to expand...

^^^ So this is from post #976 about how to capture developable land in land scarce and densely populated city ... Cantilever air rights over other properties....

Another method they are using, which can possibly slow down gentrification, but keep development moving along is actually building rooftop additions to existing buildings... 3 - 4 or more stories tall ... so folks who want to live in Manhattan can set up shop on top of existing buildings if allowed to do so..... interesting to me ... not saying its going to stop gentrificatin of outlying neighborhoods, but can possibly slow it ... maybe...

New York City Development News - Page 95 - SkyscraperCity

Update on 37 Warren rooftop addition in Tribeca. ... Warren Lofts | Manhattan Lux

37-Warren-topper.jpg


37%20warren%202.jpg



37warren%201.png



Another rooftop addition nearby is 93 Worth, on Broadway... http://tribecacitizen.com/wp-content/uploads/2013/07/93-Worth.jpg


93-Worth.jpg
 
john goodman

john goodman

All Star
Joined
May 1, 2012
Messages
5,303
Reputation
-1,410
Daps
3,679
Reppin
Philadelphia
ogc163 said:


So yo @john goodman this is what you apart of out there in Philly? Lol at the two Black dudes "the locals"
Click to expand...

That's my alma mater

It's weird environment.... The area around temple is historically one of the highest crime hoods in philly... When I lived there my next door neighbor was a crackhead/ dealer running a trap house and pimping out some ho there too... Serious hood shyt.

It makes for an interesting juxtaposition cuz the hood guys basically drink all day and so do the college kids... We would hang on hood porches and smoke blunts, drink 40s it was fun
 
Last edited:
You must log in or register to reply here.
Top