Monday, June 16, 2008

Borough Foreclosures Building Up

A foreclosed home can bring down property values on an entire block … and across the street ... and in the immediate neighborhood. Taking that into account, more than 50% of NYC is now dealing with foreclosures and the ripple effects. Throughout New York City in the first quarter of 2007, there were 554 foreclosures as compared to 918 in the first three months of 2008. Queens had the most with 508. The second quarter looks like we’re in for more of the same. Those who stay up late and purchase one of the Be A Foreclosure Property Shark Millionaire packages as advertised on television may soon be in a "feeding frenzy" gobbling up our neighbor's homes right in our own backyards.

Manhattan Beach Bias Brouhaha

Attorney Gene Berardelli was ticketed while intervening on behalf of several black teens trying to enter a public beach in predominantly white Manhattan Beach. Police claim that they were at the beach and others, in response to “Senior Cut Day,” a day when many New York City high school kids play hooky. However Berardelli claims cops were permitting white kids onto the beach while preventing blacks. The NYPD explained that the white kids were on a field trip while the black kids were cutting classes. Berardelli plans to file a complaint with the Civilian Complaint Review Board. Hopefully this matter won’t prove as black and white as it seems.

Board Of Ed Fishing Off Wrong Pier

Building a new 1,650 seat high school (or two smaller ones) on Pier 40 is what the Board of Education recently proposed to do. This 14 acre property is currently the site of several nice ball fields, recreational facilities and a parking garage. Building a new 1,650 seat high school (or two smaller ones) on Pier 40 is what the Board of Education SHOULD NOT BE ALLOWED TO DO. This beautifully situated property on Manhattan’s West Side is better suited to the entertainment of New Yorkers and tourists rather than the education of our students. In fact, the pier should be enhanced and expanded. Other suitable locations for a school can be found nearby. Find them ... and build the school in one of those spots … off the waterfront.

Hunts Point-ing Away

The privately owned Hunts Point produce market may move out of New York. The city’s refusal to give $150 million towards a new $750 million “green” facility in The Bronx has the owners of this wholesale fruit and vegetable co-op ready to box up and go. The owners claim it would only cost $500 million to build elsewhere. They’re scouting other locations now. They’ve been in their present location since 1967 but will soon outgrow it. People must really be eating their fruits and veggies! The produce market is part of the Hunts Point Food Distribution Center which includes separate fish and meat markets. It’s the largest food wholesale market in the world today ($2 billion in annual revenue) servicing the tri-state area. If the market departs, it will drive up the cost of food at many smaller grocers and restaurants. They'd be forced to travel further to obtain the food they get from The Bronx. Additionally, many people will lose their jobs and the city will lose badly needed tax revenue. New York City officials will likely come up with the money needed. It’s hoped that they’ll do it sooner, rather than later though. It'll help prevent us from getting indigestion at the thought of less food at higher prices!