Is East New York, Brooklyn at "risk" of gentrification in the future? I'm thinking of buying there because it's the only area in Bklyn I can afford

Asked by onikablue, Brooklyn, NY Thu Feb 20, 2014

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Daria Kolomi…, Agent, Brooklyn, NY
Sun Feb 23, 2014
Good Afternoon! Last few years Brooklyn area around Bed-Stuy - Bushwick has become more safe and popular throughout people. The prices on the properties are going up very fast. And in my opinion, next area that will grow are East Flatbush and East New York. The crime rate every year will go down, and "gentrification" and popularity of East New York will go up. Of'course, it wiil takes some time, but it will happen in future. Wish you good luck in purchasing your house!
13 votes
Frank Spauld…, , Brooklyn, NY
Thu Mar 20, 2014
East New York is definitely the new frontier and a great opportunity for anyone looking to acquire property there. April 1, Fillmore Real Estate will be opening a new Bed-Stuy office on Lewis Avenue off of Halsey Avenue next door to Beso's and Wine Therapy and down the street from Peaches as I will be giving plenty of attention to East NY, Ocean Hill, Bed-Stuy, Crown Heights, Bushwick and Brownsville as that makes up the 55 State Assembly District as that seat is up for election this year. Give me a buzz (347) 732-7408 if you are seriously looking to make an acquisition in East NY as I will be in that area hot and heavy campaigning and making real estates deal fly.
1 vote
Madeline Pad…, Agent, Brooklyn, NY
Fri Feb 21, 2014
Hi Onikablue
The new buzz word - gentrification...east new york is one of the many neighborhoods that is
changing. and yes there are some less expensive properties available there.
The real question here is what is your budget. Have you been approved for a mortgage
what is your real buying power. then you can really decide where you can buy and where you want to live.
1 vote
He mentioned that he was pre-approved for 450,000 so why are you asking him about his budget? You gave a vague response to the question and you're not paying attention to the information provided.
Flag Sun Feb 23, 2014
Javier Menes…, Mortgage Broker Or Lender, Melville, NY
Fri Feb 21, 2014
Not sure if there's a way of knowing if any give area will experience "gentrification" or not. I think it's more like many areas in Brooklyn are being developed and improved. If you can afford a place now in an area that's later improved, that's only a good thing for you as the owner. Good luck! IF MY RESPONSE WAS HELPFUL, CONSIDER CLICKING BEST ANSWER! • Javier Meneses Senior • Loan Officer • NMLS #23130 • STERLING NATIONAL BANK • 310 Crossways Park Drive • Woodbury, NY 11797 • • (516) 606-9648 Cell • (516) 740-4478 Office • (516) 918-5383 Fax
1 vote
Tina White, , New York, NY
Wed Mar 19, 2014
Yes, I believe East New York is going through a very positive transition. The new breed of developments and renovation of homes that's currently going on right now is very promising. I would advise anyone thinking of getting in to do so as soon as possible. It will be Bed Stuy all over again.
0 votes
onikablue, , Brooklyn, NY
Sat Feb 22, 2014
I am pre-approved for 450,000 and found a newly renovated house for around that price, only it's in east new york (467 van siclen). I have kids so naturally I am concerned about if this is a good move. It near the train and I'm hoping that may be a criteria for gentrification...
0 votes
Frank Spauld…, , Brooklyn, NY
Fri Feb 21, 2014
East New York is on the radar for growth if you will as it will not be as easily done in my estimation due to the Barron dynasty in the City Council and the State Assembly.
0 votes
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