New apartments at blockbuster prices will soon be the feature presentation at the former Ridgewood Theatre.
The former moviehouse located at 55-27 Myrtle Ave. is being converted from a 2,500-seat, five-screen multiplex theater to a five-story mixed use building featuring a commercial space on the lower floor and 50 residential units on the upper floors.
What really has residents in a tizzy is the prices for the apartments. A banner on the theater’s landmarked marquee is advertising the one-, two- and three-bedroom apartments starting at $2,300. That means the smallest apartments for rent will go for $2,300, with the larger units most likely fetching increasingly more money.
This can't be. REBNY and the pols they have bought off tell us that landmarking decreases property values. The numbers in this article must be typos then.
13 comments:
Is there no one who has had an economics class, and legitimately passed the course?
The price will be what the market will bear!
This is a quite sad commentary on the public education system.
If someone pays over one million dollars for an appointment in Manhattan, then it is the correct price negotiated between the renters and the landlord.
If no one is willing to pay this amount, the price will go down, however it is my feeling that the landowner will do well and profit from his investment...
The area around there is essentially a dump. Cheap stores. Filthy streets and sidewalks. Crime.
I don't get it, that neighborhood seems on par with Jamaica, it is pretty crappy, dirty, shit stores and the surrounding hoods are ghetto. Amazing what people will pay for in a crappy community because it is supposedly the "hot hood".
Reply to at sarc:
You dont really think you live in a free market economy where prices are determined at the intersection of supply and demand, now do you?
The most important variable in the equation is the price which is determined by the value of money. That said, the true price of money is distorted in by the guys at the Eccles Building [Federal Reserve..cough...cough].
Its ALL a lie. All of it.
Who knows what reality is?????????????????????
We are gunna find out soon me thinks.
Good luck !!!!!11111
You are looking at extended families moving in - remember - this is Queens.
http://abc7ny.com/realestate/7-on-your-side-gets-nycha-to-take-action-for-family-living-in-filth/1419413/
Jimmy Van Bramer turns a blind eye to anything to improve the community and all the big mistakes going into the ground that will vex his grandchildren's generation ... but give a Queens pol a chance to Tweed and they are all over the issue.
"If the American people ever allow private banks to control the issue of their currency, first by inflation, then by deflation, the banks and corporations that will grow up around them will deprive the people of all property until their children wake up homeless on the continent their Fathers conquered.... I believe that banking institutions are more dangerous to our liberties than standing armies.... The issuing power should be taken from the banks and restored to the people, to whom it properly belongs."
Another day like yesterday with the K2 zombies only a short walk down Myrtle Ave and the rents might get a little more reasonable.
LOL!
Vote for Donald Drumpf (Trump's REAL family name) and get to see what REAL SHIT looks like.
Unfortunately, Ridgewood IS a crap hole, in the middle of nowhere, serviced by shit transportation.
At least Jamaica, with all of its problems, is a major transportation hub.
"in the middle of nowhere, serviced by shit transportation."
The M and L subway lines are both about 2 blocks from the theater.
To be fair, crappy, he didnt say "no transportation", he said "shit transportation" and that is the L and M to a tee.
Horror show completely gutted to exposed brick walls to the lobby doors on Myrtle Ave. Balcony completely gone to the second floor windows facing Myrtle.
The sight was horrible, you would think they would have saved the lobby as a tribute to its heritage or a nice classy gateway to residential buy nope.
Not one speck of creative imagination what so ever.
Who is the architect on this shit Stevie Wonder ?
I had to see this in the flesh.
Just when I thought that these real estate jackals could not be more mentally ill or borderline sociopathic. They are advertising for apts at a rental price that certainly does not match the area median income. And not only that they don't exist, for the abandoned theater is still there.
Usually the standard, since these things are now dead as far as these lunatics are concerned, that there would be an actual apartment building there for them to advertise such things. Now you can just say what will be there eventually or would wish to be there, as long as there is speculation and media coverage of an area's sudden trendiness. Hell, all it takes nowadays (not a shoutout to that toxic picnic bar) is just the sighting on the M or L of some twerp with an overabundance of tattoos, an incongrous beard and a bicycle to justify this madness.
And if anybody still thinks that a place is a shithole they still won't come and spend like an idiot to live where social media tells them. Just look at Gowanus, Newton Creek. LIC. If the G.I.C. (gentrification industrial complex) orders the local news, bloggers and popular websites to do positive write-ups and fabricate hotness in an area in spite of urban blight and rampant crime, they all will march in spineless lockstep. Look at the recent coverage and bizarre interest in Sunset Park and Jamaica.
But as George Costanza once told Jerry...
"It's not a lie, if you believe it"
It's also called "truthiness" by the former icon Stephen Colbert, neutered by CBS, perennial political campaign contributor and city credit welfare recepient. (Bring back the Repor(t), it's not too late)
I forgot to mention Bed-stuy, the new capital of the world for artisanl dining and drinking and K-2 overdosing.
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