Two years ago, we checked into the Bronx's Grand Concourse, which, back then, was already closely watched for the generously proportioned prewar apartments in its Art Deco and Art Moderne buildings. Since then, it has only grown more popular—reason enough for another check-in on prices. To this end, we asked the team at NeighborhoodX to pinpoint the top 10 most affordable properties currently for sale on the avenue.
Note: The co-ops are all market-rate, excluding designated affordable housing, short sales, and foreclosures.
The 10 most affordable properties ranged in asking price from $90,000 (for a studio at 1010 Sherman Ave.) to $269,000 (a two-bedroom at 1075 Grand Concourse). These comparatively buyer-friendly prices aside, properties in the neighborhood went all the way up to $360 per square foot, though they were more commonly between $200 and $250 per square foot. The prices are on par with other Bronx neighborhoods like Spuyten Duyvil and Riverdale.
"Looking at the upper end of a price range for a neighborhood can be informative, especially for a neighborhood in transition," explains Constantine Valhouli, co-founder of Neighborhood X. "Seeing that others are willing to pay much more on a per-square-foot basis can provide context ... and helps those newer to the neighborhood see for themselves whether a particular property is actually a bargain."
It's important to recognize the accessibility of the neighborhood and its rather easy commute, adds Valhouli. (The commute to midtown on either the B, D, and 4 trains takes about 25 minutes.) "There is very little else in this price-per-square-foot within a comparable commute to midtown. (The area is less expensive on a per-square-foot basis than Hamilton Heights, Washington Heights and Inwood, for example.) Plus, it "has the name recognition, notable architecture, and the foot traffic and familiarity by people coming to [Yankee] Stadium."
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