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Record-Breaking Brownstone Sale The Latest Sign Of Bed-Stuy’s Resurgence

It Seems The High Crime And Looting During The 1970s Is Ancient History
Bed-Stuy, Brooklyn is undergoing a revitalization. (credit: CBS 2)

Bed-Stuy, Brooklyn is undergoing a revitalization. (credit: CBS 2)

NEW YORK (CBSNewYork) — A brownstone in Brooklyn just set a real estate record.

It’s yet another sign of the ongoing revitalization in New York City’s most populous borough.

The news is taking Bedford-Stuyvesant by storm. The brownstone at 333 MacDonough sold for a record $1.34 million — $45,000 over the asking price.

“My first reaction is I wish I would have bought when they were $20,000 back in the ’70s,” resident Sean Desterno said.

The 1970s, with high crime and looting during the blackout, is ancient history.

Today, Bed-Stuy is perking with new businesses like Liquid Oz and new residents such as Perrie Schad, who just moved into a big one-bedroom for $1,400 per month.

“There’s brownstones, there’s trees, there’s front yards and backyards — things like that. They come here, my mom came here from Minnesota a few weeks ago, and she fell in love with it instantly,” Schad told CBS 2’s Tony Aiello.

The change is spelled out in the recent census. Between 2000 and 2010, the black population in Bedford-Stuyvesant dropped from 75 to 60 percent.

“There was a time that the black population of Brooklyn was really right here,” Brooklyn College professor Ron Howell said.

Howell grew up in Bed-Stuy and said he’s glad to see black entrepreneurs, like the owner of Peaches Cafe, take advantage of gentrification. But he worries about long-time residents such as Annette Cox.

“I couldn’t afford moving in this neighborhood now,” Cox said.

“So there is some concern that what’s happening now will sort of continue in the way it was, and the people who were native to here will not be here any longer, and that’s when my fear is that Bed-Stuy would lose its soul,” Howell said.

Bed-Stuy is attracting many residents who feel priced out of other hot Brooklyn neighborhoods, including Park Slope, Fort Greene and Clinton Hill.

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