Who wants condos at an airport?
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racefan3815 — 9 years ago(September 07, 2016 08:37 AM)
Ok, first off the airport they were referring to was probably LaGaurdia. Blue star had some hangers and terminals there. Also real estate in NY is some of the most expensive in the world. Its not a matter of living near an airport, its about how much money you can make of it
What we do in life echos in eternity -
aqib4 — 9 years ago(October 12, 2016 03:08 PM)
yeah but someone has to be willing to buy the condos to live there. I grew up in NY and have flown in and out of LaGuardia many times. They almost moved the US open because of plane noise so who would buy a condo there? If it was a hotel I could see it.
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dl4060 — 9 years ago(October 16, 2016 01:52 PM)
Like the other poster said, people who can't afford to buy anywhere else. I live in Newport Beach, a very expensive area, and there is a community right under the flight path for John Wayne. If you look at a map it is near where they take off, so the noise is terrible. It dramatically affects housing prices, a home which would cost 1.7 million in my neighborhood would cost 1.1 there. The people there are there because they want a certain level of home that they can't afford in a different neighborhood. The same would be true for condos by LaGuardia. People who could not afford to buy in other places would buy there. It is not that they want to, they are just financially limited. Think about a ghetto, like Compton. Would anyone want to buy a home there? Obviously not, but the people who do are financially limited and can't afford Palos Verdes or even lower priced areas. They are staying within budget and unfortunately the means a less desirable area. It is not a question of want, it is a question of means. My guess is that the condos would be better priced than similar condos in other places, so people would be choosing a nice home with bad noise as opposed to something not as nice with less noise. It is a tradeoff.