Former 157 Hicks Street resident Harvey Araton writes about – and discusses with his former neighbors – his lingering regret over selling his apartment at a bargain basement price in the early 90s in today’s New York Times:
New York Times: It has been 16 1/2 years since we sold a two-bedroom apartment in Brooklyn Heights, en route to the suburbs and the birth of a second child. Actually, I should say that we gave it away: We lost about $80,000 on a $240,000 purchase made in 1988.
We were far from alone in our selling frenzy during the housing downturn of the early 1990s. In our four-unit brick town house, everyone wanted out of a bad marriage to the dowdy adjoining building with 10 smaller apartments, officially part of our co-op. We were all fed up with internecine issues that created financial stress and tension among neighbors and friends.