What do NYC BP members think of East NY?

[Account Closed]

Hello all,
for Bigger Pocket members located in NYC, What do you guys think about East NY area as a potential investment ? What is your experience and advice.

Thanks

[James Northrup]

As someone who lives and owns in East New York, I will humbly disagree with @Andre Ramos.  

He is right about the statistics, ENY is the 2nd highest crime area, but that crime is primarily located around the projects.  ENY is a big place and I know people who love the neighborhood feel and safety of many of the blocks.

I have owned a two-family in the northern part of East New York, called Cypress Hills, for over two years.  My tenants have been perfect.  The neighbors are very friendly.  I have written posts previously about the crime in the Cypress Hills, which is lower than most the other hot neighborhoods of Brooklyn.

So far our investment has gone up and doesn't show any signs of letting up.  They've rezoned the area in the last year and construction starts later this year on some serious large buildings along Atlantic.  That is playing a major factor in housing prices.

Flipping is prevalent across ENY, which I'm reading as a sign that there are good deals and people who are willing to pay higher prices.  The realtors in the area, for the most part, are doing a poor job of marketing the homes and the area.  Even the basics, like taking decent photos for a Zillow listing.

There are several properties that I've seen recently that looked like great deals.  Hope that helps.  Good luck ok your search.