Monday, February 18, 2013

Orthodox Communities in NYC Continue To Evolve 

There are limited choices for Orthodox Jews in the NYC area – From Great Neck to Teaneck, the Upper West Side to Lawrence anyone in the frum community is aware of shuls, walking distances and the like. Naturally, real estate throughout New York City continues to explode price wise regardless of where it is.

Certain traditionally religious areas are however seeing real changes – on Flatbush Avenue for example at 167 Johnson Place developer Ron Hershco has developed over 500 units – and it’s at a fraction of the price of elsewhere in NYC. Michael Burke, director of the Downtown Brooklyn Council says “That entire area is on the verge of moving forward.” Brooklyn indeed is a different place than it was in years past – and others in the community are building, including Isaac Hager at Flatbush Avenue and Tillary Street, and Isaac Katan on Myrtle Avenue.

In Long Beach, even after Sandy prices and sales continue. The Meridian is a small luxury building and was the 1st Long Beach building which got prices well above $1 Million (it is also a Ron Hershco building).  Of course, prices in Five Towns and Great Neck continue to be well above that.

No matter where it is real estate seems to be thriving.


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