There are allegedly "luxury condos" in this neighborhood. This one.

New York’s probably got about two decades left in it, maybe a little more, before the whole place is just covered in new condos and 7-Elevens. Unless the zombie apocalypse comes. Hey, dare to dream. For now though, mercifully, there are still a few neighborhoods where there are still some interesting things going on, and where you won’t have to sacrifice all of your limbs to make rent, in particular Bushwick, which is still grimy and reasonably-priced, at least in parts. (Although the moment brokers started calling it East Williamsburg, the writing was on the wall. Doom awaits, hooray.) There are dozens and dozens of artists in the place right now, with their studios open for perusal, doing the grunt work and the heavy lifting, so that the developers can soon swoop in and price them out of their homes. As it was then, so shall it be now, and forevermore. You don’t get rich worrying about your soul. (FULL ARTICLE: Holland Cotter, The New York Times)