Viewing entries tagged
residential real estate

Why Bed-Stuy?

Why Bed-Stuy?

According to nyc.gov, Bedford-Stuyvesant measures 2.782 square miles and has a population of 154,332: 64% black, 20% Hispanic, 11% white, 5% other. Occupying north central Brooklyn with Crown Heights to the north, Clinton Hill to the east, Williamsburg to the south and Bushwick to the west, Bed-Stuy is a small fraction of its parent Brooklyn borough which totals 71 square miles and 2,629,150 residents. Its housing stock, dominated by an estimated 6,000 3-4 story townhouses that date mostly from the late 19th century, is increasingly attracting more and more homebuyers who feel priced out of the other residential markets as well as U.S. and foreign investors looking for steady return and appreciation.

IS NOW THE TIME TO BUY OR SELL?

IS NOW THE TIME TO BUY OR SELL?

I’ve been selling residential real estate for 35 years, and for the first time I hosted a business talk last week in my Living Room with a guest banker and an attorney. I had a script and an agenda, but we were an intimate group, and the setting was informal, so as I touched on the stats that impact the market, I encouraged Q & A from the buyers and sellers who had gathered. To set the stage for discussing whether now is the time to buy or sell, I offered an overview of current inventory, identified 3 distinct market segments, highlighted the rise of the condo product, and considered absorption rates.