Where is a better place to invest for a 1 bedroom condo? Dumbo in BK or Exchange place in JC?

Asked by HL, Brooklyn, NY Thu May 3, 2012

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Luke Constan…, Agent, Brooklyn, NY
Fri May 4, 2012
Dumbo is the better investment. The senery is unmatched.
0 votes
Mitchell Fel…, Agent, Brooklyn, NY
Thu May 3, 2012
Dear HL:

Beauty is in the eyes of the beholder, you have to decide for yourself. Both areas offer great investment opportunities and plenty of room for growth of future values. If you need help locating a property to purchase, feel free to contact me. Good luck!

Mitchell S. Feldman
Associate Broker/ Director of Sales
Madison Estates & Properties, Inc.
Office: (718) 645-1665/ Cell: (917) 805-0783
Email: MitchellSFeldman@aol.com
0 votes
HL, Home Buyer, Brooklyn, NY
Thu May 3, 2012
My goal is to live 3-5 years and rent it. Eventually selling it in less than 10 years.
I am attracted to BK because of the low tax and therefore more percent of the money i put in per month goes into the apartment. But the growth in BK is rather sluggish in the past decade, whereas in waterfront areas in JC, there are still some appreciation.
In addition, some of the apts in Dumbo area are good but not selling. This doesnt seem to be a good sign.
0 votes
Rachel Poggi, Agent, New York, NY
Thu May 3, 2012
That's a very difficult question to answer without knowing more about what your situation. Is this purely an investment or do you intend to live there at some point? Is your goal to have immediate positive income on a monthly basis from the rental or for higher expected return on the investment when you sell?

Please feel free to call or email me to discuss. I grew up not far from Jersey City and have worked extensively in Dumbo and the surrounding area.

Rachel Poggi
Vice President/Associate Broker
Prudential Douglas Elliman
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