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Investing in Flushing - luxury condos and DIY empty lots Condo Developers take over Crown Heights Investment Opportunities in Sunset Park - Brooklyn. |
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Bedford-StuyvesantBedford-Stuyvesant, more commonly known as Bed-Stuy, is historically significant for being the location of one of the oldest free black communities in the U.S. It also served as an alternative to over-crowded Harlem in the 1930s, and is a home away from home for Caribbean immigrants today. Though the area experienced economic trouble in the 1980s, today old homes are being restored and new development is grinding away. Crime rates have significantly fallen and the commercial strips along Nostrand Ave, Lewis Ave, and Fulton St have increased the economic activity and prosperity of the area. The northwestern corner's proximity to both Pratt University and Williamsburg has begun to attract artist and student spillover. The neighborhood is convenient for commuters as it is serviced by nearly a full alphabet of trains: A, C, G, J, M, S, and Z. Not to mention the LIRR. Bed-Stuy has housing to match its rich history. Many of the sales listings are for century-old brick or brownstone townhouses and the median price is about $600K. There are also a lot of listings for 'fixer-uppers' that are less expensive - but only for those who know one end of the hammer from the other. Apartments are frequently in older buildings as well, and rent is about $1000/mo for a studio, $1200 for a 1Br, and only $14-1600/mo for a 2Br. A few new development condos round out the mix, but you'll have to wait a bit for most of them to be completed. Bed-Stuy may not be quite 'there' yet, wherever 'there' is, but it's definitely on its way. |
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