BYJUN 20, 2017, 1:00PM EDT
In NeighborhoodX’s latest analysis, the real estate research firm looked at market-rate, co-op apartments in the Bronx, and what they found is that there are still a considerable amount of affordable apartments in New York City, just not necessarily in neighborhoods that most people are familiar with or might want to move to.
NeighborhoodX looked at market-rate co-ops in the Bronx that are available for under $75,000. They are no luxury pads, that’s for certain, but you’d be surprised to find that many of them actually look decent and surprisingly livable.
Of the top 10 most affordable co-ops NeighborhoodX looked at in the Bronx, prices ranged from $54,900 for a 450-square-foot studio in Olinville, and went up to $75,000 for a two-bedroom, one-bathroom unit in Highbridge measuring 900 square feet.
Despite the low price point, you can tell that there’s a pretty good diversity of apartment sizes below $75,000. Some of the neighborhoods on the list include Morrisania, Highbridge, and Woodlawn.
“When people say that New York City is no longer affordable, what they really mean is that the familiar neighborhoods are no longer affordable,” Constantine Valhouli, NeighborhoodX’s director of research, said in a statement. “But if they cast a wider net, there are parts of New York City that are priced on par with Detroit.”
For the full article from Curbed NY click here.