If reading The Hunt stokes your deepest hopes that someday everything in life could work out, then you, too, are obsessed with the New York Times Sunday Real Estate section. Join us as we venture into the depths of this weekend's installment, figuring out along the way what the subtext of each story tells us about the state of the NYC real estate market using our bona fide Market Point system.
1.) A house in Bushwick shared by a group of nine artsy post-grads was featured. Having art studios in the house, a yard and porch along with the communal vibe really makes for an unusual and endearing space.
-"Bushwick may not be East Williamsburg. But for those seeking the newest Bohemia, this neighborhood is arguably the coolest place on the planet." Bold and arguably true! Plus 1 MP
- "Three people were murdered in the neighborhood late last month, one on Bushwick Avenue." Yikes. Minus 2
- "I’ve lived in these tiny, crummy places, these windowless boxes,” he said. “Because usually that’s the only thing you can afford.” Of course liberal arts school grads are savvy enough to get creative about living on a very restrictive budget. Where many would settle for the aforementioned starter apartment, this group created a fantastic life in Bushwick. Plus 3
[A Bushwick Mansion Where Music Fills The Halls]
2.) Ludlow Street was given the star treatment with an in-depth look, and
it wouldn't be a real profile without some market insight.
- "Many of the income-restricted buildings along Grand Street have been converted to condominiums in the last 10 years, altering the Lower East Side’s residential dynamic." Change can be good, especially when it helps to bring more entry-level apartments to the 'hood. Plus 2
- "For those further up the ladder, there’s the penthouse above a plumbing supply store at 75 Ludlow Street, a 3,379-square-foot industrial palazzo...on the market for $5,068,500." Sounds sweet! Plus 1
[Ludlow Street, Light and Dark]
3.) The Hunt was a bit of a doozy this week, with a couple desperately searching for more space for them and their dog and hoping for
some outdoor space along with it. After some tries in Harlem and Williamsburg, they finally found a duplex on Meserole Street that gave them what they wanted.
- When speaking about the dog crate needed for their mini pinscher one of the hunters said “The saleslady at Petco guilted us into getting the biggest crate. It consumed half the living room." With 600 sq ft already, that just can't be comfortable. Minus 1
- They made an offer on a place but the deal fell through. "Their inspector found that the roof was improperly sloped. “You could see where water had already been ponding,” Mr. Hill said." Minus 1
- "They arrived when the weather was cool but, now that it is warm, they are subjected to people blasting music at a nearby lot. “It is horrible that you have to hope for bad weather to get peace and quiet,” Mr. Hill said." The lament of living in Hipster Brooklyn. Neither Plus nor Minus.
[For Brooklyn Buyers, A Matter of Morning Coffee]
With a healthy 3 Points on the positive side , the market has yet again triumphed!