Sunday, March 12, 2017

Real estate vultures are circling the JMZ

From Commercial Observer:

While the L train partial and temporary shutdown won’t be a reality until 2019, some real estate investors and tenants are already taking steps in anticipation of the proverbial traffic ahead. As a result there has been increased demand and an escalation in prices at properties close to the J, M, Z train stations, the next best thing to the L in Williamsburg and Bushwick. (The G train, which has no Manhattan station, is also being talked up.)

This is quite a reversal for the unloved stepchild that was the J, M, Z lines. Prior to this situation, the J, M, Z were scoffed at as unreliable; when they left Brooklyn they curled through a remote area of Lower Manhattan; there were few transfer points. The parts of Brooklyn that the lines went through were lagging considerably behind Bedford Avenue and the most coveted parts of Williamsburg.

The L train panic started in July 2016 when the Metropolitan Transportation Authority announced it would shut down the popular line between Manhattan and Brooklyn—on which 225,000 Brooklynites commute into Manhattan daily—for 18 months to repair damage from Superstorm Sandy starting in 2019. Commuting alternatives—like shuttle service over the Williamsburg Bridge—are still unclear and the outcry has prompted the MTA to host public meetings about the situation.

While the temporary shutdown of the L train line will impact residents and workers in a large portion of Williamsburg and Bushwick, some real estate pros are looking at the situation as positive for some and negative for others.


Anonymous said...

The J/Z is already overcrowded and unreliable....unless a train that runs every 10 minutes during peak times is your idea of reliable. Without increased frequency, this is a disaster waiting to happen.

Joe said...

So this is why some real estate agent was begging me to let make the finished basement and 2nd floor rentals (Seneca ave)and how she would bring me "good renters"
For the 3rd time I still told her GET LOST this is a house for a family with grandparents as its always been. I'm selling it privately, GTF outta here and stop bothering me !!

Anonymous said...

I don't believe 1/2 of this tunnel damage nonsense, its likley unverified puffery from some contractor. It doesn't take that long to replace a mile of wiring in 2 tubes.
You have multiconductor snake for the signals, some communication repeaters, lighting and the 600 volt 3rd rail. No switches in that tunnel.
Why hasn't the MTA posted a single engineering report let alone two or three of them for the people who are paying for it.

JQ LLC said...

I had a hearty laugh reading this, it seems the geniuses of real estate, from the developers to the fabricators/speculators are stumped and in a mild panic at what to do now that the days of the bridge tunnel L line is drawing near (although not really, it's 2 years away).

These fiends are also starting to see the blowback from the displacement and disenfranchisement their machinations and insider lobbying has caused from the consternation of the residents of their target prospects. The residents are even rising up against De faustio's East New York affordability housing scheme, rightly sensing gentrification as rents have started to rise there and a sudden presence of white neatly trimmed bearded men and waifish women getting off at the Broadway-East NY Junction statiton

As for the reliability of the J/m/z, the other day a stupid hipshit chick couldn't wait anymore and walked on the tracks like a hobo to get to her destination.

If this isn't a sign that these elites have run out of ideas for making slums expensive than the bubble is going to pop sooner than they think.

Anonymous said...

Waifish women ?
Can somebody s'plain that ? Coming from Brooklyn and Queen I never heard that my life.

JQ LLC said...

Waifish women:

or waif, maybe my term was redundant, but I wanted to be gender specific. A lot of hipshit males are also waifish too. Also, correction, I meant pube beards, not neatly trimmed.

I also saw some dickweed skateboard commuters getting off at Broadway E.N.Y. A train the other day too. This is a revolting development.