Category: New York Neighborhood

Nearly a quarter of a million New Yorkers had feared for years the complete shutdown of the infamous “L Train”, which was long overdue. This subway line, which carries passengers through a tunnel between Manhattan and Brooklyn, is a strategic line for New Yorkers. After extensive damage from Hurricane Sandy, the city announced the closure of the line for renovations. Then, at the start of the year, New York Governor Andrew Cuomo declared the complete shutdown plan for the L train canceled, replacing it with a proposal for night and weekend work.

New Yorkers who use the L line daily, however, are preparing for months of upheaval once their route will be partially closed for construction. The MTA (Metropolitan Transport Authority) has already warned of a decrease in the number of trains during nights and weekends, an expected overcrowding of platforms, as well as the need for passengers to redirect to buses.

The planned disruption to the L line is, in many ways, a preview of what lies ahead for the rest of New York’s transportation system. In a city proud of its 24-hour metro, one of the few in the world to never close, repairs to the L will be painful: fewer trains after 8 p.m. on weekdays and a wait of 20 minutes. between trains during the weekend. Regularly closing the subway at night and on weekends is a radical change for New York, where many people work outside the traditional “9 to 5”.

In terms of real estate, this succession of contrary announcements necessarily disrupted the local market, and more particularly Williamsburg. Indeed, the indicators for both sale and rental in this very popular district of the New York metropolis showed sharp drops since the last quarter of 2017 and throughout 2018. It is difficult to predict in which direction the market will go and the reaction to the partial cancellation of the announced closure, in the short term during this 15-month period when the works will directly impact users, and in the long term once this major transmission line has been revitalized. Some are keeping a very close eye on the area and may already sense the good opportunities, while the market has not yet readjusted ….

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Important numbers to remember

More than 400,000 people use the L line every day

15 months of intensive work scheduled from April 2019

$ 477 million in estimated work

2,167 meters of damage in the Canarsie Tunnel

$ 5 billion in federal assistance to MTA to repair damage caused by Hurricane Sandy

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Sources : NY Times, L Train Coalition, Thrillist

Look around. If you see cliques of school children with their book bags still on their backs and smiles on their faces, then you’re in the right place, in one of the most sought-after neighborhoods in Brooklyn, New York City.  

We’ll explain: 76% of HNWI (High Net Worth Individuals, those with assets worth between 1 and 30 million dollars) and a large portion of other buyers consider a neighborhood’s quality of education as a priority, before investing in a property. Then, of course, comes the second criterion: pollution.

So you can just imagine how the real estate market boomed in Carroll Gardens, Brooklyn when PS 58 The Carroll School started offering a French-English curriculum, attracting many French-speaking families to this Brooklyn neighborhood. Today, more than 300 students have enrolled in the public Dual Language program, a recipient of the LabelFrancEducation from the French Ministry of Foreign Affairs.

Thanks to the neighborhood’s excellent environment, many people are investing in this corner of Brooklyn that’s increasingly becoming a cult neighborhood. If you’re interested in buying an apartment or a house in a New York City neighborhood, we recommend Carroll Gardens, especially if you have toddlers who are eager to learn French.

Few can resist Carroll Gardens and its incredible views of Manhattan and the iconic NYC skyline. The neighborhood is peaceful and quiet yet lively (just the right ratio), and full of many inviting restaurants, delis, and vibrant boutiques. The most commercial streets are Smith Street and Court Street, but Clinton Street is also great for shopping. Its houses and apartments are charming. The atmosphere is warm and friendly, a nod to its Italian-American roots. Besides, it’s not unusual to come across a delicious Italian bakery or the aroma of a freshly brewed ristretto, an Italian espresso. These are just a few reasons for Carroll Gardens’ success; not to mention the proximity and easy access to Manhattan’s hustle and bustle via the MTA subway.

But that’s not all. What makes Carroll Gardens one of the most desirable neighborhoods to optimize and/or realize a real estate project is the irresistible charm of its magnificent and mythical houses and apartments, perfectly aligned like the manicured trees that line its sidewalks and avenues.

The neighborhood offers greenery in the city with its lovely deep gardens in the front yards of those landmark brownstones, a typical NYC residence made of reddish-brown sandstone. Some of these brownstones are divided into luxury apartments, while others have preserved their family-friendly nature. Many European families have fallen in love with the beautiful apartments and houses in Carroll Gardens, and Carroll Park, too, for its Bastille Day celebration on July 14th in honor of French residents. However, it’s also very common to hear people speaking Italian, in all its animation, on the streets.

To put it simply: Where there are children, there is a good life, and where there is a good life, there is happiness. Not complicated at all, here’s the zip code: 11231.

Photo Credit: postopp1