(for those for whom the Parkside Q is their hometrain)
News and Nonsense from the Brooklyn neighborhood of Lefferts and environs, or more specifically a neighborhood once known as Melrose Park. Sometimes called Lefferts Gardens. Or Prospect-Lefferts Gardens. Or PLG. Or North Flatbush. Or Caledonia (west of Ocean). Or West Pigtown. Across From Park Slope. Under Crown Heights. Near Drummer's Grove. The Side of the Park With the McDonalds. Jackie Robinson Town. Home of Lefferts Manor. West Wingate. Near Kings County Hospital. Or if you're coming from the airport in taxi, maybe just Flatbush is best.
Saturday, February 7, 2015
Here's the Real Problem
Once the smart money sniffs out your neighborhood, the writing's on the wall. Or on the blog, in the case of BK to the Fullest. This smarmy candidate for Aholes Anonymous (AA) likes to flip a lot of jargon around, and he makes good money feeding the feeding frenzy. I won't begrudge the guy making a buck as a consultant to the greedy landlord and the desperate-for-a-house homebuyer. But still, sometimes when you read the description like this it makes you get what's under the hood, and why there's so much distrust and anger out there right now. To some folks, these are clearly not "homes," and the fact that people have lived in buildings like this for decades means absolutely zilch. Not to mention, the buzzard-like language about the rent laws. Remarkable. Morally unhinged.
Corner of Clarkson & Bedford: "courtesy" of BK to the Fullest
If you're late to the conversation, I would sum it up thusly. Buildings with rent stabilized apartments - of which there are literally thousands in the area - are no longer being priced as if the legal stabilized rent were the future income. The "market" should have nothing to do with it, according to the law. Very few of these buildings would reach the $2,500 cap in the next few years without help from greed. You must buy-out or remove tenants or do shoddy renovations, bumping up the rent each time, to get to the true market rate. At which point, this neighborhood becomes truly unaffordable to folks at current median income and below. THEN the buildings are worth the current prices they're commanding. It's all math.
One thousand, two thousand, three thousand new luxury units won't change that basic scenario.