East New York Rezoning - Which blocks are the better to buy/hold

[Daniel C.]

After giving up hopes of finding a good multi family in BedStuy and Bushwick that I could afford, I've started looking into East New York as several BPers have previously recommended as a the next up & coming neighborhood in Brooklyn. Many areas in Brooklyn change block-by-block; but East NY for the most part is still a bit rough (for now). I've been specifically looking at blocks that are closer to Atlantic Avenue and Cypress Hills area; and also that are close to trains.

With the the East NY rezoning approved last year, there will be some major improvements developments in the area between Fulton and Pitkin Avenues (top & bottom); and Pennsylvania to about Euclid Avenues (on the sides). Details of the Mayor's rezoning plan here --->  East New York Rezoning Plan

There seems to have been a lot of developments / flips going on. Many 2 & 3 families with higher-grade renovations; with some 2 families already in the $750K asking range. Some residents from the more expensive areas of Williamsburg, etc have started coming down to ENY for the more much cheaper rents; especially those that are close to M and J/Z train lines that could be affected upcoming 1year+ long construction.

This area seems ideal for investment now and will become prime location in the next few years? For those familiar with Brooklyn, let me know your thoughts on buy/hold investing in or near the rezoning areas. For those particularly familiar with East NY, let me know which blocks are preferred or which ones should be avoided. Thank you.