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Re: I'm on a plane
Posted by SMAZ on Tue Apr 3 04:07:43 2012, in response to Re: I'm on a plane, posted by AEM-7AC #901 on Tue Apr 3 03:46:31 2012.Eh, there will always be somebody crazy enough to buy them at even higher prices later on...
No, there will not ALWAYS be such a person.
There will however be a person who would buy such a property and convert it into a room-by-the-hour hotel or contract it out as a halfway house for the NY DOC (for which the QP area is perfect).
They're still better looking than most of the pre-war single family stock in most of the borough.
Only because they are new. Wait a few more years.
Those older single-family or two-family houses that you mock are sustainable for that kind of neighborhood and there will always be buyers who want them, will raise a family in them and will renovate and improve them.
They will ALWAYS be in demand. Especially with the solid immigrant families and their kids who have always made Astoria/LIC great.
They don't require new sewer, water and power infrastructure or new schools and hospitals.
They are the foundation of places like Astoria/LIC.