{2:24 minutes to read} A number of years ago, I was watching a certain stock that was priced at 5.3. I decided that when it hit 5, I would buy, but it never hit 5. Instead, it began to climb, and within a few years went to 15 and then 16. I learned a good lesson the hard way – buy while the stock is low.
While much of Brooklyn has been redeveloped, renovated and revitalized, the eastern areas have been largely ignored for a number of reasons. However, East New York could be a prime target for smart investors over the next couple of years.
Some say that East New York will not “become the next Bushwick,” but many of the people who invested in Crown Heights and Bed-Stuy might want to give this area a serious look. None of us can see the future, but East New York is an up-and-coming area with a lot of potential for big profits. The area has many small business and residential properties, which is what investors prefer, so smart investors and speculators are beginning to flock to the area.
The area has much to offer:
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Good transportation to NYC
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Warehouses that could be converted into residential apartments and condos
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Very attractive pricing for investors
New York City Mayor de Blasio, who has promised to increase affordable housing in New York by 200,000 units, also has his eye on East New York as a prime candidate for his potential affordable housing initiative. He and other politicians are trying to promote this area as a good place to live, work and invest.
Now is a good time to begin investing in the East New York area. Savvy investors could make a nice profit by buying now while prices are relatively low, and then renovating the spaces, to hold or to sell, for residential and commercial use.
So, don’t wait. Buy while the stock is low.
Mendy Lipsker
Mendy Realty Inc.
822 Montgomery St
Brooklyn, NY 11213
Phone: 646.662.5454
email: info@mendyrealty.com
website: mendyrealty.com
