Go to the web site www.HopStop.com to get bus, subway and walking directions/information from anywhere in the city. Good luck!
Mitchell S. Feldman
Associate Broker/ Director of Sales/ e-Pro Realtor
Fillmore Real Estate
Office: (718) 252-2000/ Cell: (917) 805-0783
Email: MitchellSFeldman@aol.com... more
The F line have 3 stops in Windsor Terrace. They are 15th Street Prospect Park, Fort Hamilton Pkwy, and Church Ave. It is possible to live there without a car, but you can make it to Wall Street in 10 minutes if you take the Prospect Exwy into the Battery Tunnel.... more
If you would like to know about crime statistics in a particular neighborhood, it would be best to contact the local precinct. I live very close to this address in Windsor Terrace, and know it to be a fabulous location. I've raised my kids here and absolutely love it.... more
Hey there, I used to sell in Brooklyn for several years - I also currently live there and I was born and raised in Manhattan. I did a search on Trulia and found the listing I linked below. It is in a good area, i do not know how close the train is, but it should be near the W or N, the address is not disclosed.
Either way, NYC has a ton of safe neighborhoods, and a ton of properties under $500K, Staten Island, Brooklyn, Queens have these odd reputations that really crack me up. Especially since I was born and raised on the Upper East Side (for 23 years) - I believed them too. But after being in Brooklyn for the last 7 and really, intimately knowing the whole borough, I could not be happier. The food is great (way cheaper), the culture is still here, it is very safe, a ton of families and activities, Manhattan is 45 minutes by train and less than 30 by car. So, you really need to get out here and look around - you may be surprised how great and safe these boroughs are.
Check out Park Slope, Bay ridge, Bensonhurst, Gravesend, Dyker Heights, Fort Hamilton, Carroll Gardens, Boerum Hill, Ft. greene, Clinton hill, Bed-Stuy, Williamsburg, etc... that's a start.... more
That's sometimes done by the developer when they aren't able to sell all their units. To maintain some cash flow, they rent their units--either as straight rentals or sometimes as lease-options.
To answer your question: Generally you would not want to buy into such a building. Lots of reasons: First, the fact that the developer hasn't been able to sell all the units indicates that the market is quite slow. So slow that even a developer, with all its power and leverage (over lenders, for instance) can't move the units. So, if you wanted to sell, you could find yourself competing against the developer. Or you could find that some lenders wouldn't touch your building because the percentage of rentals exceeded a specified level.
Another drawback: Usually, the condo documents specify that the developer controls the condo association until a certain percentage (often around 75%) of the units are sold. If the building doesn't reach that number, then you'll have a condo association controlled not by the individual unit owners, but by the developer. That's taxation (and more) without representation.
Now, it's possible that the developer sold a chunk of units to investors and, as part of the package, agreed to manage them as rentals. That would address some of the issues raised above, but not all. For example, you'd still run into a problem if the percentage of rentals exceeded a certain level. And while control of the condo association might be in the hands of the owners, you'd have a situation in which many of the owners really don't care about the building or its management. That'd be a bad thing.
So, you should find out what the real situation is. Ask your Realtor.
However, if the situation is as you describe, there are a lot of disadvantages to purchasing there.
Hope that helps.... more