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 borough. And it’s most undervalued!
All those diverse people occupy over 500,000 residential units in 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.
Most of the buildings in the borough are multi-family properties with under five units, falling below the commercial regulatory threshold. Of course, residential asset classes carry their own regulations that owners and investors need to know about. We’ll cover such policy developments in this space.
Bronx Benchmarks
Our valuation benchmarks synthesize all the available information into in terms of price per square foot and price per unit. To further account for finer finishes and neighborhoods, we use Bronze, Silver and Gold categories in residential and some commercial classes.
Those categories feature prominently in the market for single-family homes, attached or detached, everywhere between the Hudson River and Long Island Sound waterfronts. More than half of the tax lots in the borough are zoned for 1-2 residences, so we follow this asset class closely.
We base our benchmarks on sale comps, weighted for time and adjusted for outliers, and we bring that same analytical process to the commercial asset classes.
Beyond the ubiquitous 5 story walk-up and larger elevator apartment buildings, we highlight the vibrant industrial sector, varied retail assets ranging from bodegas to supercenters, world class medical facilities and other specialty sectors. We will consider how greater New York City trends could affect our nascent office sector.
Qualitative Synthesis
Unlike raw data sources, we will highlight how properties fit among the extensive parks, highways, and mass transit infrastructure that sets The Bronx apart from anywhere else. Come here to learn about the businesses, festivals and history that define several dozen unique neighborhoods.
Some of those neighborhoods are undergoing radical change with new and proposed zoning codes. We will watch industrial neighborhoods get replaced by gleaming residential towers to meet Metro-North’s expansion of four new stations in The Bronx. It will be one of the most important developments in decades, and has already driven asset values in those East Bronx neighborhoods.
As a New York State licensed Real Estate Salesperson with Houlihan Lawrence, Daniel Hickey draws on his market expertise and numerous proprietary data sources to report on all that is important in New York City’s most undervalued real estate market.
We present that base of knowledge and data on our Numbers page to help you assess the value of any properties in The Bronx. Our valuation benchmarks provide a qualitative synthesis of all the quantitative sale and lease data available to us.
More Tools
Owners, investors, and brokers know how important municipal data can be. New York City provides much of it online and our Resources page contains links to the sources we use the most. Our news links will keep your finger on the pulse of all the exciting transformation taking place. Some of The Bronx’s unique neighborhoods have their own news sites and their links will keep you informed about the issues important to those distinct communities.
Please use our Contact function to ask any questions or inquire about Daniel Hickey’s real estate marketing services. Or, you can share your question with others through our blog post Comment function. We are always interested in hearing other perspectives or acquiring new info. Just keep it kind please.
We will cover whatever captures your interest in The Bronx real estate market, so please let us know whatever you would like to know.
Please subscribe for free to receive our regular posts, and we’ll email you a copy of our popular NYC Zoning Use Guide, a handy reference to see what uses are permitted in any zone. We think it will prove as useful to you as it is to us.
We hope the site is helpful to your real estate considerations in The Bronx. If so, the greatest compliment would be to tell your friends and colleagues about BuyTheBronx.com.
Thanks for reading and please subscribe to get our handy zoning use guide!