The Real Deal New York

Next stop for investors: the Bronx

Land availability, crime drop spur interest among developers

May 01, 2014
By Sasha von Oldershausen

  • Ellen

    The Bronx is a huge area and is composed of many different neighborhoods. I read the statistics in the accompanying article and noted, for example, that they bear scant relationship to the Riverdale and Spuyten Duyvil sections which are in the West Bronx on the Hudson River. This area is suburban-like and the demographics are very different from the rest of The Bronx: multi-milliionaires and mansions are not unheard-of; there are many lovely co-op apartments for the middle- and upper-middle class; there are some of the best private schools in New York City; the population is very well educated; crime is significantly lower than in the rest of The Bronx; we are close to the best hospitals; transportation to Manhattan is easy, etc. But don’t look for undeveloped land around here: some of the developers did not do their homework–they grabbed up the vacant land and built condos that are sitting vacant! We could certainly use better parking facilities as well.

    • ENYBrooklyn

      I’m sure they are talking about the south and east Bronx mostly, since these areas have seen a lot of development lately and has the shortest commutes to midtown.

      • realposter

        nah – not the east Bronx either – which has always been stable. this is mostly about the South Bronx (though most of the retail development is happening in the east and west). It’s amazing thought that the amount of market rate units shot up by 20 percentage points in 3 years – from 43 to 63 percent of new construction.

    • realposter

      yes the east and western portions of the borough are similar… neither side suffered the way the way the borough did below Fordham Road.

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