bodhipooh

bodhipooh t1_jcir7ag wrote

Reply to comment by njkid30 in VYV Rent Increase by Index_Positive

>multiple construction projects for the next year or two

hahahahaha!!!! lmao. Dude, that entire parking lot is going to be a construction zone for 15-20 years, at least. There are 10+ buildings going up in that area. The original plans called for 15 residential buildings, but I believe the latest revision includes only 12 or 13.

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bodhipooh t1_jcapksv wrote

At this point, anything built in the last 10 years is almost guaranteed to have a gym that includes treadmills, ellipticals, spinning bikes, free weights, as well as some resistance machines or racks. I don't think I have toured a building that didn't a gym, each decked out similarly. The only differences are usually size of space and brand of equipment.

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bodhipooh t1_jc3ti65 wrote

My former employer is an umbrella company consisting mostly of finance-related businesses but a fairly large technology unit. Officially, the company is on a strict 3/2 hybrid setup, but none of the IT businesses are expected to follow it and they sold or gave up all the offices related to the IT units, and kept a few small spaces in some datacenters for employees that need to come on site. Very similar to what you describe for yourself.

I also agree with you that midtown is VERY different now. On the rare occasion I go into NYC during the week, it strikes me how much the vibe has changed. I also agree that (long term) it is not good if people continue to refuse to go back to offices. And, while it is true that JC is not as wholly dependent on offices as Manhattan, there is no way that the current situation is not having a significant impact on local businesses. It's DEAD in the Exchange Place and Harborside office area. If it remains that way, I don't see how any of those lunch places can survive. Even the "District Kitchen" concept seems to be on life support. But, again, I will be the first to admit that my perspective is warped by my particulars, and industry. But, the data seems to back up that perspective. Last I heard, the MTA subway ridership is still at about 70% of 2019 levels. And, it is widely reported that less than 60% of employees are actually on site on an average day. From my limited perspective, numbers for JC offices are MUCH LOWER. I can tell you that the entirety of 101 Hudson feels like a ghost town, and that used to be a fairly bustling building. From my living room, I can look at the Harborside complex entrance and it looks mostly dead all day.

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bodhipooh t1_jc2k08s wrote

I am an IT consultant. The majority of my clients are law firms and insurance firms, peppered with a slew of financial firms. Among law firms, I find they have hybrid setups (3/2 mostly) while the insurance firms are almost entirely remote. The financial firms are all over the place. Some hedge funds are entirely remote, with an office available for those who which to come on site, while some did away with their offices. A few seem to have settled on loose hybrid setups. I don't have any clients doing full on site, and have only heard of one recently pushing for a 4/1 hybrid setup. I seldom go anywhere on site (I have been almost entirely remote since Summer 2017) but I do visit my JC client somewhat often because they are 5 minutes away and I do enjoy hanging out with those guys, so why not. It's hard for me to square all those RTO headlines with my personal experience, but I also know my perspective might be warped considering the combination of work and clients.

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bodhipooh t1_jc2dqp4 wrote

100% this - I find most (if not all) of my clients have not gone back to full on site, and have no plans to do so. In fact, some of them are very much NOT considering any sort of forced RTO plan. One of my favorite clients is located three blocks away, and I go see them every other week, and there is never more than a handful of people on site (6 or 7?) and at least two of those are there to work with me on specific IT initiatives. They have a whole floor at 101 Hudson and never more than a few souls there. I can't imagine it is cheap to lease a whole floor there. The entire building is mostly deserted. I can't imagine any of those few remaining lunch places can survive on what little foot traffic is there now.

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bodhipooh t1_jbsftlj wrote

We did similarly… moved from the ArtHouse to 65 Bay and really loving it. But, my take on the gym is quite different: I’m there every day and really enjoy it. It’s mostly empty (mid day or late afternoon) and its size is quite good compared to most building gyms. But yeah, compared to Base, it is tiny.

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bodhipooh t1_jay12bt wrote

You want a 2bd apartment around Grove St and don't want to pay over 3.5K. OK. Your budget will severely limit your options. You are looking at older housing stock (some townhouses or rowhouses may pop up) but you will not find what you are looking for in a high-rise in the vicinity of Grove St.

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bodhipooh t1_jaik4x8 wrote

THANK YOU. You nailed it. It is SO OBVIOUS there is nothing like that. Where I disagree is that I never felt Third and Vine was a real wine bar. It tried, and it did get some aspects right, but the ambiance was never quite right. Terroir in NYC was pretty close to a good version of a wine bar, very much wine focused, with food options tailored to pair well with the extensive wine options.

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bodhipooh t1_jaccva9 wrote

>Cash flow is the main determination of market value for most commercial real estate

OP is in residential real estate, not commercial real estate. Though, your 4-unit example is obviously very much on point and something I had not considered. Those types of properties are obviously meant as rental businesses, but they are still considered residential real estate, no? Ultimately, the landlord is getting taxed on rental business income, so I am still not understanding why the city needs all that accounting information.

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bodhipooh t1_ja8zvsd wrote

Dafuq? How is cash flow, or even rental profit, indicative of what a property is worth if it was to be sold? Lots of people live in properties that could potentially bring in much more money if they were rented out (as opposed to lived in) or sold on the market for someone else to live in. Imagine if we taxed real estate based on its potential rental value! Very few people, particularly long time residents, would be able to afford their tax bills.

I get that some people here just love to hate landlords and shit on their choice to buy and rent properties, but this is ridiculous. If you spend even a minute to actually think through the implications of adjusting property taxes to reflect potential rental revenue, you would see why that’s an absurd idea. Besides, OP's rental income is already taxed in other ways, both by the state and the feds. It’s not like some sort of secret, tax free scam he is trying to hide.

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bodhipooh t1_ja4hgrx wrote

Definitely a good place, but a bit pricey for what you get. Good beer selection, though. Awesome, their expanded seating is great when the weather is favorable. They used to do a lot of live music stuff, though we haven’t been in a few months, so I’m not sure if that’s still the case.

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bodhipooh t1_ja4gdzq wrote

For the umpteenth time: the city of Jersey City has NOTHING to do with PATH. They have no say or control over what the Port Authority chooses to do, or not do, with regards to PATH stations or operations.

If you HOPE to have your voice heard, direct your complaints and rants to the Port Authority of NY and NJ.

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bodhipooh t1_ja0ei7f wrote

I have to agree with you about people being disgusting. Even if there was no concern about COVID, wiping down equipment after using it is a basic courtesy. We recently moved into a building we love, but this is one thing (out of three) that really bothers me: seemingly no one wipes weight machines, or treadmills, after using them. I watch people hop on and off during my daily runs and not once have I seen someone come back to wipe them after finishing. My best guess is that most people think/feel that cleaning the equipment after using it is to be done by the staff. Drives me bananas, but I’m more or less resigned to this happening.

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