NY Lost! A New York Cop practically bought Brooklyn for Dirt Cheap

[Shoog Shatmi]

Back then no black person really thought NYC, DC or LA would transform to the cities that they are today.

Not just black people. Everyone was pessimistic about those places from the 70s on. Think about movies like Taxi Driver and Escape From New York. In the 80s DC was seen as damn near third world.

 

[UberEatsDriver]

Not just black people. Everyone was pessimistic about those places from the 70s on. Think about movies like Taxi Driver and Escape From New York. In the 80s DC was seen as damn near third world.

Yea I took my mom to DC last summer and she was scared to even go cause her last time visiting was the 80s.

 

[I'm Blackman]

He bought them in the 70s. I doubt he was thinking flip?

 

[Reece]

A lot of nikkas are clowns. Alot of street dudes was making $7,000 to $10,000 a month or more and buying nothing for the future. You could’ve bought half the houses in DC for peanuts back in the 80s. Today they’re all $750,000 and above. The sad thing is there’s just as many opportunities today and it’s gonna be a lot of broke nikkas 40 years from now who could’ve capitalized and didn’t have the foresight.

 

[Reece]

Owned by the mob. 22k in 1967 is 168K now. Where was he getting that kind of money from because NYPD salaries were in the toilet back then. In 1973, senior police captains were making $31,000 per year.

His first property was $4k which is equivalent to $18k in today’s money. That’s nothing for home price. Anybody can buy that. Then you rent it out, cash flow until you get the next property.

 

[Donald J Trump]

he probably funded his investments by robbing drug dealers.

We think the same

 

[Clive42]

People always wanna criticize victims of gentrification for not buying their homes as if they had the ability to predict the future, when instead they were most likely worrying about where the next paycheck was gonna come from, or how they gonna hustle to get their next batch of cigarettes to keep them level.

No one wants a fortune through asset appreciation in 30 years, they want that fortune right there and then . As if people living here really saw their homes earning them a fortune anyway:

 

[Rell Lauren]

His first property was $4k which is equivalent to $18k in today’s money. That’s nothing for home price. Anybody can buy that. Then you rent it out, cash flow until you get the next property.

Do you know what Red Hook was like back then? In the 60s, all of the port jobs went across the river to Jersey. Who were you renting to? The populous that the work attracted left as well. For decades, there was nothing in that part of Brooklyn except public housing.

For those not aware of where the neighborhood is situated, it is geographically isolated from the rest of the borough. It is surrounded by water on three sides. The nearest train station is a 20 minute walk away. There's one way in and one way out. It was not an attractive residential area back then and is still a pain to get people to rent there because of the challenges such as public transportation.

 

[Reece]

Do you know what Red Hook was like back then? In the 60s, all of the port jobs went across the river to Jersey. Who were you renting to? The populous that the work attracted left as well. For decades, there was nothing in that part of Brooklyn except public housing.

For those not aware of where the neighborhood is situated, it is geographically isolated from the rest of the borough. It is surrounded by water on three sides. The nearest train station is a 20 minute walk away. There's one way in and one way out. It was not an attractive residential area back then and is still a pain to get people to rent there because of the challenges such as public transportation.

Obviously someone breh. He did.

 

[Donald J Trump]

A lot of nikkas are clowns. Alot of street dudes was making $7,000 to $10,000 a month or more and buying nothing for the future. You could’ve bought half the houses in DC for peanuts back in the 80s. Today they’re all $750,000 and above. The sad thing is there’s just as many opportunities today and it’s gonna be a lot of broke nikkas 40 years from now who could’ve capitalized and didn’t have the foresight.

like crypto

 

[GunRanger]

I’m sure dude was not thinking bout being a millionaire when he bought those cribs in the 60s/70s. Luck of the draw


My great uncle bought a apartment building on Pitkin right off Eastern Parkway in the late 70s for 85k. Last I spoke to him it’s worth 480k. He said he never would’ve thought it’d be worth that much 40 years ago

Theres no way it's only 480k.

 

[Reece]

like crypto

Exactly.

 

[UncleTomFord15]

Red Hook is isolated as shyt. Feels weird af being there.

 

[Hugs]

He must've been one of the nikkas shaking Jay-Z down

 

[hatealot]

People always wanna criticize victims of gentrification for not buying their homes as if they had the ability to predict the future, when instead they were most likely worrying about where the next paycheck was gonna come from, or how they gonna hustle to get their next batch of cigarettes to keep them level.

No one wants a fortune through asset appreciation in 30 years, they want that fortune right there and then . As if people living here really saw their homes earning them a fortune anyway:

Bronx is burning?