A Successful Buy-and-Hold Strategy on Hoyt Street
What is it about stories about people who scored beautiful houses in Brownstone Brooklyn three decades ago that are at once so irresistible and envy-inducing? Whatever it is, The Times served up another dose this weekend in its Habitats column. In this case, the lucky owners are a charming couple that met at Pratt in…
What is it about stories about people who scored beautiful houses in Brownstone Brooklyn three decades ago that are at once so irresistible and envy-inducing? Whatever it is, The Times served up another dose this weekend in its Habitats column. In this case, the lucky owners are a charming couple that met at Pratt in the late 1960s before nabbing their 22-foot-wide brownstone on Hoyt Street in Boerum Hill in 1973 for a cool $49,500. Of course, there’s the requisite context of urban grittiness to smudge our rose-colored glasses. Wyckoff Street was an open drug bazaar, with guns and hookers everywhere, said Frank Cusack, one half of the pioneering real estate couple. Decades of block association work and one celebrity couple neighbor later, of course, Hoyt Street is a whole different animal, though Ms. Cusack still conducts her exercise classes for neighborhood ladies in the parlor floor living room. The couple just finished a renovation (a conversion of the garden floor to a rental), the last of many in the 36-year span they’ve occupied the house.
Shrink or Expand to Fit [NY Times]
The Cusacks haven’t had any loss. Anyone obsessing over this nonexistent problem is creepy and weird.
Disconnect from reality…..
Posted by: Return of The What at March 17, 2009 2:28 AM
Man that was late What. 2:30 AM! Somehow I don’t think that pointing out that BHO is a sadist not fit for parenting is disconnected from reality. Quite the opposite really. Imagine growing up with that freak show as your Dad…
BHO see what I mean… Disconnect from reality…..
The What
Someday this war is gonna end…
BTW I always check in late to chat with that Assnut Legion. I guess his mommy wont let him use the computer, he was caught jerking off to gay men…
“I’m really not that sadistic.”
Anybody who has to qualify their level of sadism is a pretty sad individual. I pity your kid.
“Sorry to burst your little sadistic bubble.”
I’m really not that sadistic. I just want to see a price collapse, that’s all. Prices are too high. And I don’t wish the Cusacks pain. I just know it’ll sting a little bit watching that paper “wealth” trickle away.
“Is Team Insane really on here claiming the Cusacks made a mistake buying in Boerum Hill in 1973? What a joke.”
No, I said they would feel a pinch as opposed to a total wipeout like many underwater buyers are likely to experience. What a lazy ass.
***Bid half off peak comps***
Is Team Insane really on here claiming the Cusacks made a mistake buying in Boerum Hill in 1973? What a joke.
As much as you wish the folks in the article pain I just don’t see it here BHO. They are still way ahead of the game. Sorry to burst your little sadistic bubble.
“Somehow +400% doesn’t sound too much like an ouch moment.”
Not from an underwater view. But like love, it has to hurt more to have lost a relative surge in the wealth effect (extra paper equity that could have been turned into cash) than to have never had it at all, regardless of where you are in absolute terms.
***Bid half off peak comps***
“Wasder is a retarded idiot!”
Aw man, there was a time when you used to say nice things about me, or at least lacking in mean. What did I do What?