JJ Byrne/Washington Park

napkinpoet

I am moving in July from out of state into a co-op on 3rd Street right across from the park. I was told by my realtor that the park was being redone - has there been any progress made in the last month or so? Anyone know the timeline or have commentary about this issue? Any thoughts on whether it will add the value of an apartment? Thanks!

longtimesloper

It is called JJ Byrne Park. And, yes, there is a renovation in the works and, no, nothing has been done. I would assume most of the renovation will be to the two playground areas.

i don't see how it would add any value to your already overly expensive apartment.

bluecat

LongTimeSloper wrote: It is called JJ Byrne Park.

I don't know about the park renovation but the name is being changed back to Washington Park. The playgrounds within the park will be named after JJ Byrne.

http://www.brooklynpaper.com/stories/31/12/31_12_washington_park_redux_jj.html

It's a nice area who's to say they overpaid, maybe they got a deal. Or is your point anyone who buys anything is paying too much? That's not how a market economy works.

-blue

napkinpoet

Thanks for backing me up on the name change and purchase, blue - you were much more welcoming to the neighborhood than the first poster.

belzjm

you should be thrilled about the move. you will be in an awesome area!!

a bunch of great new restaurants have opened in the last couple months literally right out your doorsteps...

congrats on the purchase. owning a home in nyc is great feeling.

longtimesloper

bluecat wrote: [quote=LongTimeSloper]It is called JJ Byrne Park.

I don't know about the park renovation but the name is being changed back to Washington Park. The playgrounds within the park will be named after JJ Byrne.

http://www.brooklynpaper.com/stories/31/12/31_12_washington_park_redux_jj.html

It's a nice area who's to say they overpaid, maybe they got a deal. Or is your point anyone who buys anything is paying too much? That's not how a market economy works.

-blue


Didn't know about the name change-so, the playgrounds will have one name and the "park" itself will have another? that seems odd.

And, yes, my point is, IMO, that those apartments are overpriced (as are all apartments in this neighborhood) and from what I hear (from people who live in them)-not the best quality. I think it is ridiculous that 1 bedroom apartments in my building go for 400k! I can't imagine.

belzjm

1 bedroom apartments cost 400K in nice sections of Boston, Seattle, San Francisco, DC and Los Angeles.

See no reason why that would be odd for New York City...

Hell, my friend just bought a 1 bedroom close to that price in downtown Kansas City...

longtimesloper

I know prices are like that in a lot of areas-it just boggles my mind. I guess because I know people who are in the process of buying a really nice 3 bedroom house in California for that price, one bedroom apartments going for that much seems crazy to me.

belzjm

these days it costs a premium to live in an urban area with mass transportation, shops, restaurants, gorgeous parks all nearby.

i know everyone has their own preference, but even my suburban-for-life parents recently told me how lucky i am to live in a place where a car isn't necessary. guess gas prices are getting to them too...

i'd rather spend 400k for a 1 bedroom in park slope than a 3 bedroom (probably cookie cutter) somewhere in cali.

you are right though, 400K is still a lot of money, but these places in ps are not "overpriced" as you say, because people are buying them...

jamzer

LongTimeSloper wrote: ...I know people who are in the process of buying a really nice 3 bedroom house in California for that price....

I know people who are buying a 10 room house with an in ground pool on 1.5 acres right outside Midland, Texas for $275,000. With your logic your friends in California are WAY overpaying.

napkinpoet

Just FYI - the 1BR I bought was closer to 350K than 400K, and after renting for 12 years, the thought of paying a few hundred more a month to own seemed like the way to go. Especially in this market. Of course I realize it's ridiculously expensive, but I still think I got a pretty good deal for the area. I've been watching 1BR apts in PS for 4 months now, and most have either not sold, or have reduced in price (and still not sold). The same properties I looked at in February are still on the market. People would have been outbidding each other for my apartment 3 years ago. And I got it for 15K below asking.

longtimesloper

Well-I guess I am out of touch. I know how much apartments go for around here-I see them bought and sold all the time. I also know what I paid for my very large center slope apartment many years ago-obviously when you compare the prices, it does seem way out of line to ME. I guess my mind is still stuck in what the prices used to be is all!

werspe

Here is something to help you our "LongTimeSloper"

http://www.investopedia.com/university/economics/economics3.asp

bluecat

werspe wrote: Here is something to help you our "LongTimeSloper"

http://www.investopedia.com/university/economics/economics3.asp

That's much to complicated. I recommend this:



-b

longtimesloper

Oh bluecat-you are just hysterical! What a riot you are!

it's not that I don't understand the idea of supply and demand or that I am some sort of idiot as is being implied above-but, I have lived here for 20 years and paid considerably less for my place-so, yeah, it boggles the mind that people are paying a million bucks for a 3 bedroom walk up apartment, or, even 400k for small one bedrooms. That is all.

filmlover44

napkinpoet wrote: Just FYI - the 1BR I bought was closer to 350K than 400K, and after renting for 12 years, the thought of paying a few hundred more a month to own seemed like the way to go. Especially in this market. Of course I realize it's ridiculously expensive, but I still think I got a pretty good deal for the area. I've been watching 1BR apts in PS for 4 months now, and most have either not sold, or have reduced in price (and still not sold). The same properties I looked at in February are still on the market. People would have been outbidding each other for my apartment 3 years ago. And I got it for 15K below asking.

You don't have to defend yourself!

cat

also someone just moving to the area JUST Having bought an apartment and already worrying about its value... I don't know. Don't you intend to LIVE here at least for a little while? I think it's that attitude that bothers me most.

landlord

If its the building I think it is...you got a great deal. Your location is top notch as well. The value of your property will go up faster then other area's in brooklyn.

They were discussing the parks renovations for a while now. I believe they officialy started work on 4/17/11. From the rendering it looks like a great improvement. I remember the park back in 1993 and it has undergon a huge improvement. The new 5th ave BID is great and there are many special events being held at the park. Additionaly, the (amazing) yearly halloween parade has changed its route from going down on 7th avenue to starting on 7th and then turning on 3ed street and going down to 5th avenue and ending at the park. You will have a front row seat!!!

Its my opinion that your locations is the best in park slope.

marzipan

I googled and found this:

http://www.brownstoner.com/brownstoner/archives/2011/04/jj_byrne_playgr_1.php

Renovation has just started on the playground area.