All Forum Posts by: Michael G.

If I can move away from Prospect Lefferts Gardens and some of the other above-mentioned amazing Brooklyn nabes for a moment, I was interested to hear from any BPers out there who have some experience with Bushwick.

Anyone know the neighborhood well? Which areas (bordered by which streets) are the 'hotspots'?

Here's a map:

https://www.google.com/maps/@40.6931354,-73.911637...

Thanks!

Is it me, or does it seem curious to y'all that all the above comments up here that seem to be so passionately in-support of  NRIA (the firm in question here) are all posted by brand new members whose only posts up to now, across ALL of BiggerPockets, are plugging for NRIA?

@Christine G.

Well, what we do, which works very well, is:

• Send to every tenant a copy of the entire building's Water Bill. We do this in the interest of full transparency. 
• Then, we shave off 10% just for good measure. ( & so we can never be accused of over-charging)
• Then, we split up the bill pro-rata based on the number of official occupants in each apt. (Other ways of accomplishing the same thing is to split up the bill based simply on each unit's  % of overall building square-footage) As long as they are able to do basic math, they will be able to see that they are only being charged their pro-rata amount.
• Then we add these amounts to each tenant's Rent bill as "Added-Rent" for which they are fully expected to pay. And they do. Each month without any complaint. They use it, so why shouldn't they pay for it? Make sense, right? (we don't pay for their cable or internet bill either)

It's been tremendously successful and we've never ever had a problem (nor do we expect to ever have one.)  That fact that each tenant is responsible for paying all of their own utilities is in fact explicitly stated in their Leases.

And, as a side note, I will add that after we implemented this system we observed that the building's water consumption dropped by 40%!!!! 

So I guess it trully is a Win-Win for everybody:  

1. 1.) Tenant's are assured to not be over-charged.  
2. 2.)Landlord off-loads the extra expense, and 
3. 3.) Environment is better preserved!

We love Win-Wins!

@John Rogers

Thank you for sharing. Very interesting. Buyer Beware! 

Hey all - Thanks everyone for the interest in this thread!  

However, just to keep it on-point and relevant, let's limit this discussion mainly to any hot new emerging BROOKLYN NY neighborhoods and immediate surrounds (such as parts of, for example, Queens). 

In a separate thread, we can and should discuss the Hudson Valley or perhaps other Non-Brooklyn NY neighborhoods.... Just not here.

Thanks!

Brooklyn R. (original thread poster)

@Paulette Midgette

My personal suggestion, based on what i've observed thus far:  Stay away!

@Marcia Maynard

Update:  There never was any HPD violation - I was just being over-cautious I guess, and all has worked out ok! 

Thanks for chiming in.

Re: Prospect Lefferts Gardens, Brooklyn : Agree. I personally believe that Nostrand Ave between Eastern Pkwy & Linden Blvd (or if you wish, Empire Blvd & Linden Blvd) is an awesome strip and is an amazing, under-developed retail/commercial zone. It's got great housing stock (beautiful buildings & architecture) perfect street-width and, of course, great Subway access (both Red and Green line). As soon as that 1st Starbucks arrives, watch out!  

Interesting. Sounds like Park Slope 12-15 years ago. or even PLG 4-6 years ago...

In my experience, it just takes one really cool avant-garde/artsy Cafe/Lounge/Restaurant/Brunch spot to kickstart the fire...  Then the rest start to pile in...  Sounds like I'm overdue for a drive out there sometime in the next few weeks.

This is great Intel, folks!  A perfect example of how we can all help each other... There's plenty of opportunity to go around and, like a self-fulfilling prophecy, the more we all invest, the better these areas become for everyone - residents and investors alike

Anyone else have any other specific insights? 

@Javier Diaz 

Great Post.

Can you describe Ridgewood, Woodhaven and Jamaica? (What about Astoria?)

I know you said these are lacking right now, but as much as they are there, If you can pinpoint the streets, where exactly are the main-drags with coffee-shops, restaurants, bars, interesting boutiques, shops, stores,  or otherwise interesting retail strips? Are the yuppies moving in?    (Any artisinal moyonaise, mustard or organic food shops opening yet :-) ??) Joking... Half-Joking...

How's Transit? Crime? Art & Music Scene?