Prospect Heights Property Value

Good point, analog.

I'd also like to point out that—whatever the reasons property values in this neighborhood have risen—yuppies and newcomers are not the only PH residents who are benefitting. My landlord is from Jamaica originally, but has lived in PH for probably 35+ years and has owned this building (a small, non-rent-stabilized limestone) about 20 years, I think. I don't know the rental history of my apartment, but I just moved in about 6 months ago, and I suspect the landlord is charging me considerably more than the previous tenants paid. (Which is totally fine—he's a good guy and obviously, there's no reason for him to ask less than the market can bear.) I'm hoping he has no plans to sell the building any time soon, but when/if he does, I'm sure he'll make a killing.

Also, he knows several other homeowners on the block, and from what he's told me, many of them are in situations similar to his—they've lived and owned here for MANY years, and their property values have no doubt skyrocketed since they first purchased their buildings.

I think Armchair meant "chase" in the "pursuing romantically" sense, not the "chasing down the street with an axe" sense. Of course I could be wrong.

JJB wrote: Good point, analog.

I'd also like to point out that—whatever the reasons property values in this neighborhood have risen—yuppies and newcomers are not the only PH residents who are benefitting. My landlord is from Jamaica originally, but has lived in PH for probably 35+ years and has owned this building (a small, non-rent-stabilized limestone) about 20 years, I think. I don't know the rental history of my apartment, but I just moved in about 6 months ago, and I suspect the landlord is charging me considerably more than the previous tenants paid. (Which is totally fine—he's a good guy and obviously, there's no reason for him to ask less than the market can bear.) I'm hoping he has no plans to sell the building any time soon, but when/if he does, I'm sure he'll make a killing.

Also, he knows several other homeowners on the block, and from what he's told me, many of them are in situations similar to his—they've lived and owned here for MANY years, and their property values have no doubt skyrocketed since they first purchased their buildings.

Ask your landlord where he would go if he sold the place? Then again maybe you shouldn't because he might think you have the loot to buy the place and jack up your rent.

ana.log, please read the article... your post might be slightly off track.

I did read the artcle. Not sure what that has to do with my post, which was only recounting facts of an experience that actually happened to me.

escap wrote: I think Armchair meant "chase" in the "pursuing romantically" sense, not the "chasing down the street with an axe" sense. Of course I could be wrong.

yes chasing with flowers not with a loaded gun.