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| Re: Hunters Point vs LIRR Round 1 (787948) | |||
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Re: Hunters Point vs LIRR Round 1 |
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Posted by trainsarefun on Fri May 22 11:19:40 2009, in response to Re: Hunters Point vs LIRR Round 1, posted by GP38/R42 Chris on Thu May 21 12:00:53 2009. Why should the LIRR bend though?Other than the unit owners paying the LIRR, I don't see why. And of course, such payment really isn't feasible, given the unit owners' lack of such funds. If they didn't do their research before buying, that is THEIR problem, not the LIRR's. I think that this is right. And I am SURE these condos, even if "luxury", are still cheaper than other condos that are similar in a neighborhood where there is no train yard. Surprisingly, many of those people really did pay a fairly high dollar to square foot ratio. I'm actually not sure whether ratios would have been higher in other relatively comparable 'frontier' neighborhoods, e.g., Central Harlem, Downtown Brooklyn, Astoria, Williamsburg, etc. With the price decrease in the 'terra firma' market, especially on Manhattan Island, a lot of these LIC buyers look to have made a blunder, so I think that's also a part of it. That's why I noted in Pavonia-Newport case, the purchaser was suing for a refund with interest, and I wondered whether some of these LIC purchasers were not setting up to do the same. |
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