South Bronx buzz fizzles
September 04, 2008 05:00PM By Christopher Faherty
265 Alexander Avenue
From the September issue: For years there was a buzz about the potential of a residential boom in the South Bronx, but with the credit crunch making it nearly impossible for small-scale investors to obtain financing in the area, any sort of explosion appears to be on hold. Local brokers said that while calls from potential homebuyers have increased exponentially over the last few years, the neighborhood they've dubbed SoBro still lacks an inventory of renovated properties appealing to buyers seeking deals on the fringe. Now that financing for small investors is scarce and pricey, a buildup is unlikely.
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