April 16, 2008
Manhattanites Choose the Bronx
Now that the glory days of moving to Brooklyn after being priced out of Manhattan are all but gone, the question remains: where do Manhattanites move?
The above I.R.S. graph is based on net migration and shows a clear trend; while Staten Island seems to be a last resort for the priced-out set, The Bronx has attracted more Manhattanites than Brooklyn since the beginning of the decade.
From 2001 through 2006, over 23,380 Manhattanites relocated to the Bronx.Is it time to scan those Bronx real estate listings? Maybe not. Just last year, brokers seemed a bit concerned and disenchanted about the borough's real estate bubble, one saying, "The North Bronx north of Fordham Road is overrated. To me it doesn't make a difference if you are North or South Bronx, it is still low- to middle-income."Every year, the Bronx led the three other outer boroughs in net gains of Manhattanites. That includes Brooklyn, traditionally perceived as the natural next stop in a priced-out Manhattanite’s real estate evolution.
Prices are still on the rise, however -- in just one year (February 2007 to February 2008) condos in parts of The Bronx ("Riverdale, Parkchester and Spuyten Duyvil are the three most popular Bronx neighborhoods for home seekers in New York City") went up 11%.
Before packing your bags, there could be a better borough for you; NYMag recently checked out Suburban Jungle Realty, which is like a dating service but for homeowners and cities -- will you and The Bronx fall in love?
[via The Observer]
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Brooklyn is "perceived as the natural next stop in a priced-out Manhattanite’s real estate evolution" if you're white and make a real living wage.
Riverdale and Spuytin Duyvil are basically the same neighborhood.
in general
theres a big difference between north of fordham road hanging out around kingsbridge & grand concourse at night
and lets say..oh
138th street and brook ave!
You people will never take the Bronx. Ever.
Ph: Folks said the same about Bklyn and Queens not too long ago....
DAMN IT ALL!
STAY OUT!
If the "pricing out" trends continue to affect commercial as well as residential tenants and force out the places that make New York unique, my "natural next stop" is nowhere in the metropolitan area. Why are we paying a premium to live here, for a higher density of Starbucks?
Move to Chicago. It's like Brooklyn but instead of Manhattan next door we have a large body of freshwater.
"To me it doesn't make a difference if you are North or South Bronx"
it's true. the bronx sucks. maybe all these new people will price out the savages who kill their 18-yr old baby-mamas.
Nice. The less Manhattan Yuppie freaks moving the Queens, the better.
This doesn't fit with the general perception that people who are priced out of Manhattan are moving to Brooklyn. It would help if they gave the income levels of the people moving to each area, I'd expect that would change things a bit.
http://newyork.craigslist.org/brx/rfs/641232925.html
why would a pile of cinderblocks and sheetrock and assorted homedepot low quality crap cost 600K?
BWAHHAHahahahhaHAHHAhhahahahHAHHAHAHHA
I'd be interested to see NJ included in the survey...
Watch what happens,The Bronx has a waterfront area and that'll be developed sooner than you think. This is the only major city in the world that hasn't fully utilized all their river frontage. Not only the Bronx, but the Rockaways and the rest of the Queens shorefront. Staten Island might as well be on Lake Michigan. In my day, you started out in The Bronx, you didn't wind up there.