In a message dated 8/16/00 7:40:14 PM Central Daylight Time,
[log in to unmask] writes:

> "Red Hook is the next Athens".

I'm not sure what "Athens" means, but I believe Red Hook is a sleeper waiting
to prosper. The place has some very interesting older buildings, is off the
*easy* commuter track, and includes shoreline. A mix of grimey industrial and
run down residential. Some really nice rubble masonry industrial buildings.
What it has against it is the ugly social architecture of the projects, which
are not apt to move or improve any time soon, and a lingering reputation for
a high homicide rate. Having spent the last 15 years looking at
Greenpoint/Williamsburg, and seeing the influx of moneyed and unmoneyed
artists migrating from Manhattan (easy commute on L train), I can see that
Red Hook would be a next candidate for growth, though I think it is very
dependent on the Wall Street residential economy expanding south from Park
Slope & Cobble Hill. If there are plans to pipe in fiber optics and wide
bandwidth then Red Hook would take off overnight. I would say that a modest
real estate investment today in a Red Hook fixer-upper will be redeemable
several times over in 10-15 years.

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