Lance Posted April 19, 2016 Share #1 Posted April 19, 2016 Dozens of people living in a row of private homes in the Bushwick section of Brooklyn face relocation for at least six months, and possibly much longer, when the MTA renovates a section of its elevated M train line next year. But residents who live in the two-family homes on Ditmars Street told Newsday last week that they had yet to hear from the Metropolitan Transportation Authority about the relocations, approved by the agency’s board last month. In addition, a coffee shop, a bicycle store and an apartment house with five units around the corner on Myrtle Avenue face the same fate, and workers in those stores said they had not heard about the relocations. Messages left for the owners of those stores were not returned. Read more: Source Link to comment Share on other sites More sharing options...
Tokkemon Posted April 19, 2016 Share #2 Posted April 19, 2016 Welp. Whatcha gonna do? The train is literally in their backyard! Link to comment Share on other sites More sharing options...
CenSin Posted April 20, 2016 Share #3 Posted April 20, 2016 That’s why property is cheaper near the tracks. And It’s not just because of noise. Link to comment Share on other sites More sharing options...
QM1to6Ave Posted April 20, 2016 Share #4 Posted April 20, 2016 I feel for these families. Even if you live near a train track, you don't expect to be forced out like that. It is the same problem with Eminent Domain. Link to comment Share on other sites More sharing options...
B46 via Utica Posted April 20, 2016 Share #5 Posted April 20, 2016 Well that's rough, if I've ever had to relocate my apartment because of renovations I would be up in arms Link to comment Share on other sites More sharing options...
Javier Posted April 20, 2016 Share #6 Posted April 20, 2016 Yikes...I never thought people would have to relocate because of a subway closure... Link to comment Share on other sites More sharing options...
bstar1 Posted April 20, 2016 Share #7 Posted April 20, 2016 They need to because of reconstruction of tracks break down and rebuild it may cause some serious damage or worse. Link to comment Share on other sites More sharing options...
BreeddekalbL Posted April 25, 2016 Share #8 Posted April 25, 2016 MOVE!!! https://www.dnainfo.com/new-york/20160421/bushwick/bushwick-tenants-near-m-train-vow-fight-mta-displacement Link to comment Share on other sites More sharing options...
Threxx Posted April 25, 2016 Share #9 Posted April 25, 2016 The MTA could have made a better effort to communicate with these people, but eminent domain will force them out eventually. Link to comment Share on other sites More sharing options...
Rafa Posted May 25, 2016 Share #10 Posted May 25, 2016 I would let the MTA buy my house for over market value and then run and not look back. I would probably able to buy a better house and with the money I put down my mortgage would be lower and owe less on the new house somewhere else away from tracks. Link to comment Share on other sites More sharing options...
B35 via Church Posted May 29, 2016 Share #11 Posted May 29, 2016 The agency said some property owners might not want to return, and it would pay them fair market value for their homes. The MTA said it would resell them after the project was finished. ....at a higher price tag. It has been said that profitting off of others misfortunes is the American way! While disgusting, this would be a classic example of it..... The last thing we need is the MTA dibbling & dabbling in the real estate field/market..... I would let the MTA buy my house for over market value and then run and not look back. I would probably able to buy a better house and with the money I put down my mortgage would be lower and owe less on the new house somewhere else away from tracks. This. Key term: Over market value. Link to comment Share on other sites More sharing options...
QM1to6Ave Posted May 29, 2016 Share #12 Posted May 29, 2016 ....at a higher price tag. It has been said that profitting off of others misfortunes is the American way! While disgusting, this would be a classic example of it..... The last thing we need is the MTA dibbling & dabbling in the real estate field/market..... This. Key term: Over market value. Too late, the MTA is already is a big player in nyc real estate market. Except that don't seem to do a very good job... Link to comment Share on other sites More sharing options...
B35 via Church Posted May 29, 2016 Share #13 Posted May 29, 2016 Too late, the MTA is already is a big player in nyc real estate market. Except that don't seem to do a very good job... News to me. Regardless, I don't plan on buying within NYC anyway.... Couple more years & I'm gone. Only question is, will I remain in the tri-state area or not - As I am not on the *moving down south* bandwagon. Link to comment Share on other sites More sharing options...
checkmatechamp13 Posted May 29, 2016 Share #14 Posted May 29, 2016 News to me. Regardless, I don't plan on buying within NYC anyway.... Couple more years & I'm gone. Only question is, will I remain in the tri-state area or not - As I am not on the *moving down south* bandwagon. Yeah, there was a big story years ago about them selling their 370 Jay Street building to (I believe it was) NYCCT. Not sure what other examples there were offhand. Link to comment Share on other sites More sharing options...
QM1to6Ave Posted May 30, 2016 Share #15 Posted May 30, 2016 News to me. Regardless, I don't plan on buying within NYC anyway.... Couple more years & I'm gone. Only question is, will I remain in the tri-state area or not - As I am not on the *moving down south* bandwagon. Ha, I hear that. Basically, after the economic recession, it came out that the MTA lost a ton of money from real estate loses, and they are very dependent on the real estate income they expect to earn Link to comment Share on other sites More sharing options...
bobtehpanda Posted May 30, 2016 Share #16 Posted May 30, 2016 Ha, I hear that. Basically, after the economic recession, it came out that the MTA lost a ton of money from real estate loses, and they are very dependent on the real estate income they expect to earn Well, there are two unrelated things. The MTA owns a lot of property, just because of all of the offices it has or has had at some point, in addition to the air rights above yards, tracks, bus depots, yadda yadda yadda. That's still in the process of being sold off, but that's mostly one-off budget bandaids. It is definitely not doing anything like the Port Authority is with WTC; they would rather sell the land and give the hard work of developing it to people who specialize in that sort of thing (Hudson Yards, Atlantic Yards, the Jay St building) The other part of it is that a big portion of the MTA's revenues is a tax on real estate transfers. This can be really good when the property market is really hot; however, whenever the economy starts crapping out, the MTA is left with a giant hole in the budget because one of the first things to stop in a recession are property sales. Link to comment Share on other sites More sharing options...
QM1to6Ave Posted May 30, 2016 Share #17 Posted May 30, 2016 Well, there are two unrelated things. The MTA owns a lot of property, just because of all of the offices it has or has had at some point, in addition to the air rights above yards, tracks, bus depots, yadda yadda yadda. That's still in the process of being sold off, but that's mostly one-off budget bandaids. It is definitely not doing anything like the Port Authority is with WTC; they would rather sell the land and give the hard work of developing it to people who specialize in that sort of thing (Hudson Yards, Atlantic Yards, the Jay St building) The other part of it is that a big portion of the MTA's revenues is a tax on real estate transfers. This can be really good when the property market is really hot; however, whenever the economy starts crapping out, the MTA is left with a giant hole in the budget because one of the first things to stop in a recession are property sales. Thank you for clarifying, I'm no real estate expert lol Link to comment Share on other sites More sharing options...
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