ARCHIVE FOR July, 2014

Bed-Stuy – From “Do or Die” to “Rent or Buy”138

Posted by mary-katherine // 07-17-2014


As usual, the weekend is approaching and I’m posting about last weekend’s NY Times. BUT, I did think it was worth it just to bring up the conversation, in case you missed the articles or wanted to chat about them with like-minded others.

Brownstones on Hancock Street

The Living In was about the “diverse and (rapidly) changing community” of Bed-Stuy. An influx of investors, many of them foreigners and/or LLCs (side note – read the nauseating NY Mag article about these people “stashing” their millions in our real estate, if you have the stomach) has driven up prices in this beautiful community of brownstones so much that it now seems close to clubby Park Slope. Guess we missed that boat.

There’s also an interesting piece from WNYC about Bed-Stuy in their “Life in the middle” series on the middle class. Bed-Stuy average income is now slightly over the city’s median. Some are thinking about cashing in on the boom, while others are getting priced out, like a young couple who can barely afford their $2000 a month rent and talk about having to go the “next Bed-Stuy,” which may be East New York. Crazy.

Also in the Sunday Times, the Travel section offered a slightly glossy version of Old Brooklyn coexisting peacefully with New Brooklyn — Wythe hotel and a red-sauce joint. The so-hip-it-hurts The Pines restaurant in Gowanus next to a social club. You get the idea. For tourists, yeah, it probably does feel that way. And for locals, at least those of us who have been here for more than 5 years, it’s often the mix of old and new that keep the charm of the place alive. But I think if you asked many, they’d say the new is steamrolling the old, especially in places like Bed-Stuy where it’s happening so fast it’ll make your head spin, with brownstone prices TRIPLING in four years. I wonder what’s been happening to the schools?

Also, I wish the New York Times weren’t putting our little neighborhood gems in its Travel section. The waits are already long enough.