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Re: Manhattan rents experience highest rise in 5 years
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Real estate prices and rents in Long Island City and Astoria are on the rise, especially in the luxury housing market, where there isn?t enough supply to meet demand, a new report shows.
The average monthly rent for a one-bedroom was $1,600 in Astoria and $2,400 in Long Island City in the last quarter of 2012, according to real estate brokerage firm Modern Spaces.

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And the average one-bedroom sold for $387,786 in Astoria and $501,732 in Long Island City in the same period.
?We?re definitely seeing prices going up,? said Modern Spaces President and CEO Eric Benaim. ?There?s not enough housing to support everybody.?
Long Island City rentals saw a roughly $50 monthly hike from the previous year. And though one-bedrooms sold for about $34,000 less in 2012 over 2011, the price per square foot jumped from $700 to $732. There was no 2011 data available for Astoria.
Benaim attributes the hike to Manhattanites getting priced out of the city and moving to Long Island City ? despite many of the luxury towers being located on the waterfront in flood warning Zone A.
And now that prices are rising in Long Island City and units are getting smaller, due to a lack of housing, more people are turning to Astoria ? where developers are now building upscale units with attractive amenities, he said.
Paul Halvatzis, one of the owners of Amorelli Realty, said he?s starting to see ?unique,? ?aesthetically pleasing? buildings go up in Astoria ? instead of the usual cookie-cutter, two-family homes.
?This area is only going to continue to go up,? he said. ?People want to be here.?
Dan Miner, senior vice president at the Long Island City Partnership, a local development group, said he?s seen a dramatic shift in the area in the 13 years he?s worked there.
?Long Island City was a gritty, industrial neighborhood and many people confused its name with Long Island,? Miner said.
Now ?we have vibrant industrial, residential, commercial and cultural communities,? said Miner, who pointed out the area?s close proximity to Manhattan. ?The future is pretty promising.?
Arthur Rosenfield, president of the Long Island City/Astoria Chamber of Commerce, said he isn?t surprised by the demand for housing in northwestern Queens.
?The schools are good, the crime rate is low,? he said. ?The quality of life is just phenomenal.

Posted on: 2013/1/24 19:07
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Re: Manhattan rents experience highest rise in 5 years
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This might be gentrification, but I call it "SOCIAL CLEANSING" and its happening here to.

Posted on: 2012/8/12 9:14
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Re: Manhattan rents experience highest rise in 5 years
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Relief could be finally on the way for the Manhattan's beaten down renters.
While the borough's sky-high rents hit new heights in July, the vacancy rate widened for the second month in a row, meaning rents may have reached their tipping point.
The average rent for a Manhattan apartment was $3,459, a 3% jump from last year, setting a new record, according to Citi Habitats.

But the vacancy rate reached 1.2%, up from 1.01% in June and up from 0.86% last July.
With substantially more inventory on the market in what is usually a very busy rental month, lower rents could be around the corner.

"It was unusual that the city's vacancy rate climbed during the summer months," Citi Habitats' president Gary Malin told the Daily News.
Sarah Marshall, a 23-year-old operational manager for Target, said her apartment search went much smoother than she expected.

Marshall recently made the decision to move out of her parents' home. Within 24 hours her agent Morgan Turkewitz of Citi Habitats, found her something she liked: a studio in a walkup building on 75th St. between First Ave. and York Ave. The rent is $1,650.

"I heard the horror stories," Marshall said. "It was the easiest thing."
One reason Manhattan's inventory of rentals is growing: recent college grads who usually do their apartment hunting during the summer are putting off the search because the rents are simply too high.

At the same time, there has been an increase in the sale of starter apartments, meaning more people are choosing to buy rather than rent.
As usual, rents in Manhattan varied greatly in July based on the neighborhood.
The average rent for a one bedroom in SoHo/Tribeca was $3,761. On the Upper East Side, the same category of apartment went for $2,404 and in Washington Heights it was $1,546.

While inventory is climbing, Malin cautioned renters about getting too optimistic.
"Rents are still increasing slightly month over month," he said. "What renters really want to see is those prices start to dip, and despite the slight increase in available inventory, that just hasn't happened yet."
pfurman@nydailynews.com


Read more: http://www.nydailynews.com/life-style ... e-1.1132020#ixzz233fQAnN6

Posted on: 2012/8/9 14:11
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Re: Manhattan rents experience highest rise in 5 years
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Must say, the Heino avatar is one of my favorites on JC List. Dear mother, indeed.... Yay for German kitsch!

Posted on: 2012/7/14 17:14
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Re: Manhattan rents experience highest rise in 5 years
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ianmac47 wrote:
Yeah, you F'ed up bad. Your ideal address is King Street between Van Brunt and Richards St, Red Hook, Brooklyn.


Do the majority of people prefer ground level units on that block, or upstairs?


Brilliant response - thanks for the laugh.

Posted on: 2012/7/14 16:24
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Re: Manhattan rents experience highest rise in 5 years
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getz011 wrote:
Wow, this is so much better than the Farmer's Almanac: feed your vitals into the JCList housing model and find out where you're supposed to live, as opposed to where you enjoy living.

I live in Lafayette and thought I liked it, but now realize I must be doing this wrong given that I'm not "young and poor," in addition to other observations above about my neighbors and me.

So based on what I've listed below, where am I supposed to be living?

- Mid-40's; married; childless
- Born and raised in flyover country
- Lived in East Village AND the deep south; worked in war zones; weekend trips to Arthur St. in the Bronx to buy Eastern European plum brandy
- Owned dogs but now prefer cats (happy to throw balls to either)
- Inexplicable obsession with Lawrence Welk
- Have never had a bad service experience at Taqueria
- Have been mugged (6.5 out of 10 on the violence scale, though it occurred in flyover country so use appropriate conversion factor)
- Consider a short walk to be ~20 minutes
- Stats geek with corporate-ish job (and, hopefully, a reasonably healthy skepticism of its culture and attendant nonsense)
- Secretly disappointed when books aren't like the movie
- More frightened of Goldman Sachs than pit bulls (leashed or unleashed)
- Aries


Yeah, you F'ed up bad. Your ideal address is King Street between Van Brunt and Richards St, Red Hook, Brooklyn.

Posted on: 2012/7/14 16:00
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Re: Manhattan rents experience highest rise in 5 years
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vindication15 wrote:
I also know that the MAJORITY of people out there would choose any area in Manhattan over PH. I'm not even stating a controversial statement...it's just the truth. Come on people...



The world was flat. Truth. And then it wasn't.

The sun and universe revolved around the earth. Truth. And then it wasn't.

Majority of what people? The population of the world? Of the United States? Of people who already live in Manhattan?

There is plenty of Manhattan north of 145th Street that is cheaper than Jersey City. Is Jersey City collectively stupid for not flocking to 146th Street and beyond?

Why aren't you living in northern Manhattan when Manhattan is so obviously, unequivocally superior? I guarantee that whatever your rent in Paulus Hook is, a bigger space can be found in the northern 50 blocks of Manhattan.

Posted on: 2012/7/14 15:56
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Re: Manhattan rents experience highest rise in 5 years
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Binky, I agree with what you said. This guy sermonizes us without even backing it up with some survey or anything. Either he assumes all of this in his mind or believes in heresay.

Posted on: 2012/7/14 12:45
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Re: Manhattan rents experience highest rise in 5 years
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vindication15 wrote:
Look, my posts are NOT to tell you where you are suppose to live. My posts are to tell you what the majority of people think of your area when deciding where to live....


But that's not true.
Your posts tell us what you imagine other people think.


Posted on: 2012/7/14 11:50
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Re: Manhattan rents experience highest rise in 5 years
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you didn't but many people have disagreed with my hierarchy of what the majority of certain types of people think of certain areas. my response was to those people.

Posted on: 2012/7/14 5:25
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Re: Manhattan rents experience highest rise in 5 years
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vindication15 wrote:
But don't argue with people and say, "oh no, but a lot of people from the west side are moving to "insert any jc neighborhood here" so "insert any jc area > west side of nyc" Let's get real here people.


Tell me where/how I said that Lafayette>anything and I'll gladly respond.

My point is that this whole thread long ago became an echo chamber.

Posted on: 2012/7/14 5:20
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Re: Manhattan rents experience highest rise in 5 years
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Look, my posts are NOT to tell you where you are suppose to live. My posts are to tell you what the majority of people think of your area when deciding where to live.

You might love lafayette, downtown, newport, any other place you may live but others have an opinion of where you live and I'm telling you what it is....at least the majority of people.

There is a reason why a 5 bedroom in lafayette is worth less than a 500 square ft condo in Manhattan...


But everyone here knows all of this. Stop misinterpreting my posts...

I live in PH but I know it is not the upper east side. I don't pretend it is...I don't convince others it's a great neighborhood. If people like it, then fine. if they don't then fine. I also know that the MAJORITY of people out there would choose any area in Manhattan over PH. I'm not even stating a controversial statement...it's just the truth. Come on people...

So go ahead and live wherever the hell you want and be happy about it. But don't argue with people and say, "oh no, but a lot of people from the west side are moving to "insert any jc neighborhood here" so "insert any jc area > west side of nyc" Let's get real here people.

Posted on: 2012/7/14 5:12
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Re: Manhattan rents experience highest rise in 5 years
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Wow, this is so much better than the Farmer's Almanac: feed your vitals into the JCList housing model and find out where you're supposed to live, as opposed to where you enjoy living.

I live in Lafayette and thought I liked it, but now realize I must be doing this wrong given that I'm not "young and poor," in addition to other observations above about my neighbors and me.

So based on what I've listed below, where am I supposed to be living?

- Mid-40's; married; childless
- Born and raised in flyover country
- Lived in East Village AND the deep south; worked in war zones; weekend trips to Arthur St. in the Bronx to buy Eastern European plum brandy
- Owned dogs but now prefer cats (happy to throw balls to either)
- Inexplicable obsession with Lawrence Welk
- Have never had a bad service experience at Taqueria
- Have been mugged (6.5 out of 10 on the violence scale, though it occurred in flyover country so use appropriate conversion factor)
- Consider a short walk to be ~20 minutes
- Stats geek with corporate-ish job (and, hopefully, a reasonably healthy skepticism of its culture and attendant nonsense)
- Secretly disappointed when books aren't like the movie
- More frightened of Goldman Sachs than pit bulls (leashed or unleashed)
- Aries

Posted on: 2012/7/14 4:32
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Re: Manhattan rents experience highest rise in 5 years
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vindication15 wrote:
Most people think any BMW, whether it be an SUV, sedan, sports car, etc > fullt equipped Kia of any line.


But if you need to transport a family of 5, that sweet Z4 is never going to be your car. Sometimes the right number of seats is FAR more important than sexiness & HP. Same in real estate.

Posted on: 2012/7/14 3:10
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Re: Manhattan rents experience highest rise in 5 years
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ianmac47 wrote:
Quote:

vindication15 wrote:
the different neighborhoods are different classes of bmws...

Most people think any BMW, whether it be an SUV, sedan, sports car, etc > fullt equipped Kia of any line.

That was my point. "The right decision" and "what the majority of people think" don't have to be the same.

Look, you can be perfectly happy in GV. Do most people want to live there? No. Do most people think it's a great neighborhood? No. That's all I'm saying and I don't think it's too controversial...

And not all of JC is a Kia....I would actually say something like NYC is Mercedes, Brooklyn is BMW, and the father down my hierarchy you go, the lower perceived quality there is.


with number 13 or something being a scion.


So why are you living in Jersey City and not the very affordable Inwood, which is by your definition, qualitatively better because its in Manhattan, and thus more desirable?


JC is way better than Inwood, if I can chime in here.

Posted on: 2012/7/13 22:58
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Re: Manhattan rents experience highest rise in 5 years
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vindication15 wrote:

And looking at your list, there is no one (who is not in one of the categories I mentioned - has kids, has family, is dumb, not afraid to get killed, poor, etc.) that would choose brownstone jersey city OVER the lower east side...really???

And Harlem (again, this is the current view and not how I would want the world to work) is waaaay above consideration over Bergen Lafayette. Come on..really?


I'm not in any of the categories you listed, and a few years back I sold my apartment in the East Village first to rent in downtown Jersey City and eventually to buy in Bergen Lafayette. And I love it, and would never go back. In the EV, I had a tiny apartment and had to deal with the ever-increasing hordes of partying NYU students. Those are just two of the many reasons I prefer BL to the EV. I always wonder if the people who are down on BL have spent much time here.

Posted on: 2012/7/13 22:49
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Re: Manhattan rents experience highest rise in 5 years
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vindication15 wrote:
the different neighborhoods are different classes of bmws...

Most people think any BMW, whether it be an SUV, sedan, sports car, etc > fullt equipped Kia of any line.

That was my point. "The right decision" and "what the majority of people think" don't have to be the same.

Look, you can be perfectly happy in GV. Do most people want to live there? No. Do most people think it's a great neighborhood? No. That's all I'm saying and I don't think it's too controversial...

And not all of JC is a Kia....I would actually say something like NYC is Mercedes, Brooklyn is BMW, and the father down my hierarchy you go, the lower perceived quality there is.


with number 13 or something being a scion.


So why are you living in Jersey City and not the very affordable Inwood, which is by your definition, qualitatively better because its in Manhattan, and thus more desirable?

Posted on: 2012/7/13 22:31
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Re: Manhattan rents experience highest rise in 5 years
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the different neighborhoods are different classes of bmws...

Most people think any BMW, whether it be an SUV, sedan, sports car, etc > fullt equipped Kia of any line.

That was my point. "The right decision" and "what the majority of people think" don't have to be the same.

Look, you can be perfectly happy in GV. Do most people want to live there? No. Do most people think it's a great neighborhood? No. That's all I'm saying and I don't think it's too controversial...

And not all of JC is a Kia....I would actually say something like NYC is Mercedes, Brooklyn is BMW, and the father down my hierarchy you go, the lower perceived quality there is.


with number 13 or something being a scion.

Posted on: 2012/7/13 21:59
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Re: Manhattan rents experience highest rise in 5 years
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The flaw in this analogy is that Manhattan is not a SINGLE BMW, just as Inwood is not TriBeCa and Kips Bay is not the West Village.

But to see this analogy through, if Manhattan is a BMW, its the entire lineup of BMWs...
http://www.bmwusa.com/standard/content/allbmws/default.aspx

You still can't compare an X5 to a Ford Focus. But maybe you can compare an X5 to a Ford Explorer. http://www.showroom.ford.com/Showroom.jsp?branding=1&lang=en

So some people looking for an X5 might settle for an Explorer because the base model is $18,000 less.

But maybe you don't want SUV to begin with. Maybe you think SUVs are for douchebags. Maybe you have a band and want extra space to carry around your equipment. So you look at the BMW lineup and you say: show me a cargo van! And the BMW salesman is like, sir/madame, we make luxury cars, we don't make cargo vans. So then what? Do you pay a lot of money for BMW you don't really want, or do you look someplace else, like the Mercedes Sprinter? http://www.mbsprinterusa.com/sprinter/cargo-van

So you are looking at Manhattan, and you say, I don't want to live near a bunch of douchebags and I have a band and I want to be where there are other bands. Do you rent / buy in Manhattan, with lots of douchebags and the only bands are 50 year old celebrity rockstars, or do you look at places like Brooklyn and Jersey City and Queens and then start comparing similar places?

I don't know. Maybe you buy the X5 when when the Ford Transit Connect is better suited to what need and want. But that doesn't make it the the right decision.

Posted on: 2012/7/13 21:43
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Re: Manhattan rents experience highest rise in 5 years
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vindication15 wrote:
You can be perfectly happy with a Kia vehicle. It has great features, great price point, and has won numerous awards. However, just because you love the Kia does not make it a BMW. More people would rather choose a BMW over a fully equipped Kia. Your Kia will never be as desirable as a BMW. They are and never will be in the same league.

Now let me replace some words..

You can be perfectly happy living in (enter your non-NYC area here). The area probably has great shops, neighbors, is unassuming, etc. However, just because you are happy in (enter your non-NYC area here) does not make it located in NYC. More people would rather live anywhere in Manhattan than live in (enter your non-NYC area here). Your area will never be as desirable as NYC. Your area and NYC are and never will be in the same league.

Now there are exceptions - family, >35 of age, no friends, dont work in nyc, etc.


Location, contrary to the old saw, is not all there is. What you leave out is living space. We moved from a nice affordable 2 bedroom in rapidly gentrifying Morningside Heights to get more space to have a family than the families we knew up there struggling to make do.

The only people I know who did not make an economic decision to live in JC either worked here, or out in Jersey and their spouse in the city. That's just reality, the only people who don't make economic based decisions are the very wealthy. I remember rolling my eyes in the late 90's at a Times article about middle class people boo-hooing that they couldn't afford great roomy Manhattan apartments any longer. Welcome to the real world.

When someone prefers a studio in Manhattan to a similar priced house with a yard in JC, they're making a personal judgement on too many criteria to even talk about. The only real comparisons to be made between neighborhoods is between equivalently priced and sized spaces. Show me someone taking a same size and price place in queens or the Bronx over JC. If you can find it, I'll bet you wouldn't want to live there.

What does it say about us that we live in JC and are set on buying a KIA Soul soon? Consistent?

Posted on: 2012/7/13 21:29
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Re: Manhattan rents experience highest rise in 5 years
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You can be perfectly happy with a Kia vehicle. It has great features, great price point, and has won numerous awards. However, just because you love the Kia does not make it a BMW. More people would rather choose a BMW over a fully equipped Kia. Your Kia will never be as desirable as a BMW. They are and never will be in the same league.

Now let me replace some words..

You can be perfectly happy living in (enter your non-NYC area here). The area probably has great shops, neighbors, is unassuming, etc. However, just because you are happy in (enter your non-NYC area here) does not make it located in NYC. More people would rather live anywhere in Manhattan than live in (enter your non-NYC area here). Your area will never be as desirable as NYC. Your area and NYC are and never will be in the same league.

Now there are exceptions - family, >35 of age, no friends, dont work in nyc, etc.

Posted on: 2012/7/13 20:59
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Re: Manhattan rents experience highest rise in 5 years
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I would like to definitely say no, but you are pretty well hidden behind your screen name, so I can only make a best guess of "probably not."

But as to whether someone chooses Astoria over Jersey City over Williamsburg over Bushwick? Price plays a lot into that. Knowledge plays into that. But as far as the types of people living in these places, they are people with similar ambitions and similar lifestyles, but who are choosing one thing over another. I know plenty of people who have turned their noses up at Jersey City to move to Astoria, and then some who have turned their noses up at Astoria to settle in Jersey City. What I don't know of many people doing is moving from Astoria to Murray Hill or even wanting to, just like I don't know of anyone from Jersey City itching to move to Murray Hill.

Posted on: 2012/7/13 20:41
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Re: Manhattan rents experience highest rise in 5 years
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ianmac47, have we ever dated?

Posted on: 2012/7/13 20:30
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Re: Manhattan rents experience highest rise in 5 years
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The Astoria in Queens or the one in Oregon?

Posted on: 2012/7/13 20:28
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Re: Manhattan rents experience highest rise in 5 years
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okay, I was off by 1 street...

Its in VVP. Getting back to my main point - out of 1,000 people, the majority will choose astoria over VVP. Happy now?

Posted on: 2012/7/13 20:24
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Re: Manhattan rents experience highest rise in 5 years
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Just in case there is some confusion as to where Dixon Mills is, they have a nice map:
http://dixonmillsjc.com/neighborhood.html

Funny how that map seems to put it Van Vorst Park
http://www.vvpa.org/map.html

Posted on: 2012/7/13 20:21
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Re: Manhattan rents experience highest rise in 5 years
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ianmac47 wrote:
By "Dixon mills area," are you talking about the Dixon Mills complex, are you talking about the Van Vorst Park neighborhood, are you talking about the area west of Grove Street? WTF. Not only do you obviously not know what you are talking about, you don't even know Jersey City very well.



lol, if you street view dixon mills on google maps it looks like 2 guys horseplaying but it could be a fight...

For what it's worth, if someone says around dixon mills I think of monmouth and columbus which is gross.

Posted on: 2012/7/13 20:17
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Re: Manhattan rents experience highest rise in 5 years
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vindication15 wrote:
the neighborhood dixon mills is in is called the village....


Really? You sure about that?

http://www.jcvillage.org/101/where/

Posted on: 2012/7/13 20:16
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Re: Manhattan rents experience highest rise in 5 years
#34
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the neighborhood dixon mills is in is called the village....

I apologize for not being specific...but maybe you don't know the definition of area:

ar?e?a
   [air-ee-uh] Show IPA
noun
1.
any particular extent of space or surface; part: the dark areas in the painting; the dusty area of the room.
2.
a geographical region; tract: the Chicago area; the unsettled areas along the frontier.
3.
any section reserved for a specific function: the business area of a town; the dining area of a house.
4.
extent, range, or scope: inquiries that embrace the whole area of science.
5.
field of study, or a branch of a field of study: Related areas of inquiry often reflect borrowed notions.

Posted on: 2012/7/13 20:12
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Re: Manhattan rents experience highest rise in 5 years
#33
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Quote:
Given enough time, I can find a goldman employee living in greenville. I know there are exceptions but I'm talking generally.


I live in GV because I want to, not because I have to. I lived downtown for 14 plus years, I was like most people on here afraid of GV until my college buddy purchase two homes here and I started to check it out for myself. For the person who said why would they build condos in GV and BL? Who are they trying to attract? , They are trying to attract people who already live in the area and prefer condos oppose to old Victorians and colonials homes.

Most people on JClist have a thing against most areas of JC that are not downtown, but the people I know moving to GV or BL have a very different mind set than the people who choose to live downtown.

I chose GV because I hate condos and prefer living in a house. Also most of the areas in GV and BL offers the work at home program for first time home buyers which gave me an affordable mortgage and taxes. Downtown was great 10 years ago, but for me it has become something I am no longer interested in.

Posted on: 2012/7/13 20:10
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