Today we’re going to talk about something a little bit different. Instead of giving you an update on the real estate market, I want to talk about growing up in New York City and how I’ve seen the market change over all these years.
When somebody asks me where I’m from and I say “New York,” I usually have to qualify it by telling my whole story. To save you some time in the future, here it is.
I was born in New York in 1980 and my mother and I moved around a lot. We lived in places like Ditmas Park, Midwood, Park Slope, and even downtown Brooklyn. I moved away for college, then I came back and lived in Brooklyn. I live in Manhattan today and I love it.
"I remember when New York wasn’t the same kind of place that it is today."
It’s been amazing to see how the city has transformed over the years. For example, my father bought a townhouse in Chelsea in 1982 for $240,000 and sold it three years later for $500,000. Today, that thing is probably worth $10 million.
I remember NYC when things weren’t so expensive or sought after as they are today. There was more crime, more dilapidation, and less to do. Now, a different kind of dilemma is starting to emerge. With rising property values, so many mom and pop businesses have gone away. When that happens, like it already has in Times Square, you don’t see the same kind of growth as you do in other areas.
If you’re curious about values in your specific neighborhood or you have any other questions about New York real estate, don’t hesitate to reach out and give me a call or send me an email. I look forward to hearing from you soon.