rant · moment 4 of 22
NYC Real Estate: Gentrification and the Outer Boroughs
from Prove It, You Dumb Fuck! · #91
Audio-only archive episode — no video to seek.
3 minTim and Ray discuss rising property values in Queens, Astoria, and Brooklyn, why young people are fleeing overpriced Manhattan for more "authentic" outer boroughs, and how the landlady's slum building sits on inflated inherited equity.
- 17:56Outer boroughs like Long Island City and Astoria show no signs of price depression as Manhattan becomes too congested and overbuilt.
- 18:34Young professionals with decent incomes prefer outer boroughs to Manhattan because they can't afford Tribeca and find Astoria more charming.
- 18:58Williamsburg became Manhattan itself, but five to ten years ago people sought gentrifying neighborhoods that still felt authentic.
- 19:19Making 200 grand a year in Manhattan still doesn't let you afford the culture—you can't do the Met, Broadway, and pay rent.
- 20:08The building owner hasn't factored in how much renovation work her shitty property actually needs before it's worth anything.
- 20:29Tim describes how she'd dismiss the caller as having nothing—no property, no woman, no children—while she sits on multi-million-dollar equity.
ManhattanBrooklynAstoriareal estate developmentLong Island CityWilliamsburgQueensTribeca