Wednesday, June 13, 2007

Oh how times have changed...

If only we thought of buying back in 2002 when this NY Press Real Estate supplement was printed (Going the Extra Mile) focusing on the outer neighborhoods like Kensington. We too might have gotten a 2 bedroom (over 1000 sq. feet) for less then $160K! Now a 2 bedroom near us needing a near gut renovation went for $380K.... Total madness.

The X's paid $152,000 for their co-op apartment, which Emily estimates is 1150 square feet. (Prices listed in the April 19 New York Times for comparable apartments in Park Slope ranged from $269,000 to $639,000.) It is a comfortable home, with a huge master bedroom, parquet wood floors, a sizable foyer and elegant archways. The area in Kensington around the Church Ave. F stop has some conveniences, but where the Xs live, near the Ft. Hamilton Pkwy. stop, it’s very suburban.