Big Bucks for Downtown's Big House?
Here’s an interesting solution for the House of Detention on Atlantic that doesn’t involve supersizing the facility: Comptroller Bill Thompson says the city should sell the property, according to an article in today’s Daily News. Thompson wrote a letter to Mayor Bloomberg that says selling the facility, which has been closed since ’03, will bring…
Here’s an interesting solution for the House of Detention on Atlantic that doesn’t involve supersizing the facility: Comptroller Bill Thompson says the city should sell the property, according to an article in today’s Daily News. Thompson wrote a letter to Mayor Bloomberg that says selling the facility, which has been closed since ’03, will bring cash to the city and prevent a reopened jail from damaging Downtown Brooklyn’s economy. “Because our City has already begun to experience economic weakness, communities such as Downtown Brooklyn remain at risk of reversing their economic gains,” wrote Thompson, saying that reopening the jail “would … directly impact the revitalization of the surrounding area.” Right now community members who oppose the Department of Corrections’ plan to double the House of Detention’s size are considering suing the city. We wonder how much a property like this might fetch, and what sort of developer would be interested in taking it on. Guesses?
Sell Shut Downtown Brooklyn Jail to Raise Cash, Bloomberg Urged [NY Daily News]
City Looks to Supersize the House of D [Brownstoner] GMAP
Photo by Funtime Ben.
Book mentioned above is The Last Good Season by Michael Shapiro (Doubleday).
Hey Polemicist @ 10:37… Excellent HBO special on the Dodgers… O’Malley actually wanted to build on the site of the FG Meat Market, which is now where Atlantic Terminals / Target reside. Kind of ironic that fifty years later, the uppermost parts of one of the buildings resemble a stadium. Check out the book ‘The Last Great Season’ for more info. I’m spacing on the author’s name after an hour on the A Train, but it’s quite good for fans of Bklyn history.
Aside from that, Bill Thompson will never be Mayor, no matter what happens to the HOD.
Why would you guys invest so much time ARGUING with “The What?” If you don’t believe his doomsday scenarios, why even bother validating them by responding? I just laugh at what he writes….it’s pretty funny!
Dave, you’re exactly right. There’s almost never a need to downsize if you don’t want to or have to.
2:02, here’s the short of it:
Prices go up = I get less home for more money
Prices go down = I get more home for less money
Falling prices don’t shock those who are:
1) Currently in the market (i.e., an owner)
2) Have a stable income
3) Using their home as their residence (i.e., and not for speculative purposes to buy and flip short term)
No, he wouldn’t Biff. The only people who downsize are the ones that can’t afford where they are living or because they had a big house, lots of kids and now the kids are all gone and they actually prefer a smaller place.
2:02, it doesn’t mean that sellers feel entitled to ever increasing gains. It means the better neighbourhoods in New York City have been incredibly well insulated from the credit crunch compared to other areas. A “stalemate” period sure as hell beats falling prices and foreclosures.
No, idiot, I’ll UPSIZE. I will sell low and buy a bigger place that has also dropped in value by the same (or likely higher) percentage as mine and have the same amount of equity – in a bigger home and at no additional cost to finance it. I could show you through a mathematical example, but you wouldn’t understand.
“sounds like the comptroller is worried about degentification. If you live in the fringe hope you are not overextended”
Um, is Manhattan “degentrifying? (Whatever that is). Because there are jails in prime neighborhoods there. You know that, right?
really What?
it took me about 1 minute to find but one of tons and tons of similar writings on this exact topic.
http://www.hoover.org/publications/policyreview/3476271.html
you yell so much yet say nothing. as usual.
The What just wrote….
“This is the most fucking stupid ever. I’m done.
The What”
Aside from another totally senseless statement…are you REALLY done??? That’d be great. Or are you just done psting today or finished work today???
We can only hope & pray!!!