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just got back from a real estate viewing of units at 161-179th st grand concourse..
interiors were absolutely stunning, and the prices at $250/sq ft. amazing. original concrete/plaster walls, mouldings.
i don't have any videos but here are some youtube videos that reflect what i saw today.
beautiful art deco in the vein of early 1900's french urban architecture.
These are tryax reality apts which have some of the worst apartments in the bx and harlem
yes, there are better. i saw a few at 800, 869 and 888 grand concourse which were very nice but didn't bring a video camera. was posting other's videos from youtube as examples of what one can find these days. there's great value in the neighborhood.
In addition to the massive tower development that has been linked here a few times, Keith Rubenstein of Somerset invested in a 2-family brownstone on Alexander Ave that is currently under extensive renovation (although LPC halted the work for a bit, believe they are back up and running - facade is under re-pointing). The implication for this is that he's betting both big and small on the area.
Another brownstone on Alexander Ave. (304) that sold to a developer group in May had 1 of the 2 units up for rent recently - both of these units have also undergone renovation, the 3 bedroom (off-market since 8/22 listing) is $3,000/month.
About 1/3 of the landmarked brownstones on Alexander Ave have been held up in a legal battle for about 4-5 years. If you venture to the area, you can tell which ones from the boarded windows - this litigation is supposedly ending very soon, likely that several of these properties will be developed.
The 2 buildings just north of Bruckner on Alexander Ave. are rising from what were empty lots. This area is technically Port Morris but - po-tay-to / po-tat-to. These were news-worthy for being the first new-construction market-rate rental buildings to come to the South Bronx in ages.
The History Channel building was recently sold to (I think?) Somerset, 2415 Third Ave has a charming instagram account @brucknerbldg and is undergoing renovation for commercial rentals, several small businesses are setting up shop in 199 Lincoln and there is even a YouTube studio being set up in The Hub for aspiring vloggers to use. Plus the growing art scene with Wallworks Gallery, BronxArtSpace, and the street art projects (especially at Bruckner/Alexander and under the overpass 134th / 135th.
It won't happen overnight but as I've said like a broken record - the amount of development that has come in the past 18 months is pretty incredible when looking at the historical data. We began looking to buy about 2 years ago and there was not a lot of movement. Now, you can't go a few weeks without some new piece of information being put out - either a parcel of land being sold or a new business coming to the area. I'm not calling it the "new Williamsburg" but to deny that this area is developing, or say it will take decades to improve, is not grounded in facts.
Those power plants are an eyesore and need to be taken down for something more fruitful and beneficial for the area like a retail development, community facility, residential housing or all 3 combined! That area of port Morris I understand lacks transit but look at red hook / gowanus. Does anybody else visualize the industrial area of port Morris (I.e. Where the Randall's island connector is) to be a happening area one day. I'm talking 10-15 years down the line. Adi Altmark is ahead of the game and filed plans for a residential building this year in that exact area! Also the haven project will expand to that area where the Randall's island connector will be and beyond! I understand warehouses have extremely low vacancy rates in that area due to low rent but don't you see a housing boom later on in the future???
Do you think the day will ever come where the Bronx will be the in-place (the happening place to live in and hang out in) for the so-called "beautiful people" of this world (i.e., the high-end celebrities, the jet-setters, the Hollywood stars, the movers and shakers of society or at least those always in the media spotlight, the Wall Street big bankers and hedge fund managers, et al) whereby they would choose to make The Bronx their primary home base?
Like who? Oh, I don't know. Perhaps people like or analogous to: Brad Pitt and Angelina Jolie, Julie Roberts, the Kardashians, Leonardo DiCaprio, Meryl Streep, Jennifer Lawrence, Tom Brokaw, Taylor Swift, Donald Trump, etc. etc. etc. etc. etc. . . . ad infinitum. Or even Wall Street bankers and hedge fund managers and the like. I think you get the picture. In other words, with all the wealth and resources at such persons' avail and hence all the options at their avail, do you think such persons could ever (in the future) bypass every other grographic locale and choose to make The Bronx their primary home base?
Or will the Bronx always be a place that, even if business and investment increases there notably (as this very thread reports) and more and more middle class populations move in, will it ever be a place that has the cachet to appeal to the true upper-class element (beyond Riverdale - Fieldston. . . which seems to try to function and be perceived as an island unto itself and is wholly atypical of The Bronx-at-large)? Will the Bronx only ever appeal, at best, to those who are lower than the upper classes (the low-end classes, the middle class, and some of the upper middle class but not populated beyond a smidgeon by the true upper classes . . . beyond some choosing to live in Riverdale - Fieldston)?
Last edited by UsAll; 09-12-2015 at 03:07 PM..
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