Bronx Real Estate

New elevator apartment building at 931-935 E 179 St, Bronx

Ascending to Elevator Apartments

Leave a Comment / Asset Class / March 9, 2023

Almost half of The Bronx’s 567,446 residential units are in elevator apartment buildings which account for about 21% of the borough’s total assessed property value. The disparity is because housing carries considerable regulatory hassles that don’t come with renting warehouses. 2,679 of those units changed ownership last year, and more than 200 have traded in 2023. We recently trimmed our benchmark values because of sector headwinds and several low valued transactions, but some recent trades have come in better than the benchmarks.

Electric Industrial Boiler

Local Law 97 Looming Over The Bronx

Leave a Comment / Issues / February 17, 2023

Owners of commercial buildings larger than 25,000 sf are learning how much the 2019 NYC Green New Deal will impact their investments. The legislation’s hallmark Local Law 97 has become a pressing issue for property owners to tackle this year. Registered Design Professionals will need to draw up plans to comply with the greenhouse gas reductions mandated to take effect in 2024 and beyond. Energy efficiencies will have to be deployed in successive stages to meet increasingly strict emissions reductions. Most legacy building utilities will ultimately need to be replaced.

Wakefield is served by Bee Line Bus and MTA Bus and Subway

Making Money in Wakefield

Leave a Comment / Neighborhoods / February 1, 2023

Working people like to live in Wakefield for many reasons. At the northern border with Yonkers and Mount Vernon, a variety of mass transit reaches anywhere in New York City and Westchester. Money, meals, medical care and most miscellaneous needs can be met in the busy shopping districts along White Plains Road and E 233rd Street. You might even have a backyard, driveway and garage. So like George and Weezy, move on up to the east side where the living is nice and easy.

280 E 161st St

Top 10 Fourth Quarter Bronx Real Estate Deals

Leave a Comment / Market / January 6, 2023

The good times kept rolling in The Bronx real estate market during the fourth quarter of 2022. Industrial and multifamily assets were most common among the quarter’s top deals at valuations in line with recent records. The development window has yet to close with some deals registering surprising prices for Bronx dirt. The top ten deals also reflect unique attributes of The Bronx real estate market where social welfare and affordable housing projects have yet to feel the pressures affecting other economic sectors.

Morris Park Ave

Happy Holidays, Let’s Shop The Bronx 

Leave a Comment / Asset Class / November 27, 2022

No place is more resilient than The Bronx. After years of online shopping threatened the existence of bricks and mortar retailing, the pandemic was a knockout blow for several national chains with a local presence. However, a recent rebirth has seen large spaces vacated by bankrupt companies get acquired by thriving national retailers building their presence in America’s third most densely populated county. Beyond the malls and power centers, local shopping corridors throughout the borough are enjoying low vacancies and record rents. 

NYC polling place

Election Impact on Bronx Real Estate

Leave a Comment / Issues / November 15, 2022

Most New York Democrats breathed a sigh of relief last week despite Republican gains in Congress and Albany. While the power structure remains status quo, the ideological center moved slightly to the right. Real estate developers support Democrats over Republicans by a wide margin and they will need to leverage that influence to address several issues looming over The Bronx real estate market.

106 Ditmars St, City Island

Investing in Small Multifamily Properties

Leave a Comment / Asset Class / October 27, 2022

If you’re looking to invest in Bronx real estate, there’s a good chance you’re targeting the small multifamily sector. Multifamily properties with 2 to 4 units comprised around half of third quarter Bronx real estate sales and more than a quarter of principal value. The sector is a favorite for budding real estate investors following the age old advice to invest in middle class housing.

ABC Carpet now Amazon

Bronx Industrial Real Estate Focus

Leave a Comment / Asset Class / November 3, 2022

At the geographic and logistical center of the New York metropolitan area, The Bronx is a natural location for a thriving industrial asset base. Train lines and a working waterfront brought the industrial revolution to the south Bronx in the early 20th century and defined those neighborhoods. Until recently, the industrial real estate sector has been transitioning into residential development to meet New York City’s persistent housing shortage.

Top Ten Third Quarter Bronx Real Estate Deals

Leave a Comment / Market / October 10, 2022

All but one of the third quarter’s top ten Bronx real estate transactions traded above $10 million. Retail, Industrial and specialty assets continued to support record values while commercial apartment metrics were under pressure. Five of the top ten are near the 2 and 5 subway line serving both the east and west sides of Manhattan. This spine of The Bronx enjoys widespread demand from developers, retailers, and apartment hunters.

BuyTheBronx.com billboard

Welcome to BuyTheBronx.com!

Leave a Comment / Site / October 7, 2022

Welcome to BuyTheBronx.com, your insiders’ guide to The Bronx real estate market. This is the place to learn all about the neighborhoods and asset classes of New York City’s most diverse and undervalued borough. With over 100,000 buildings across 42 square miles, no other borough has as much open park space or the excellent highway and mass transit network that forms New York City’s mainland gateway.