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Old 05-30-2015, 04:54 PM
 
23,247 posts, read 16,049,776 times
Reputation: 8529

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Quote:
Originally Posted by vitalove View Post
The South Bronx is very poor and has so many projects. I worked in the Mott Haven area for a period of time. It has a lot of projects and very little development. I think it's crazy that people are speculating that this area will be the next Williamsburg. Crazy.

Anyone looking to invest in the Bronx should go to the North Bronx.
North Bronx has bad ghettoes areas plus its a hour away from Midtown.

The South Bronx does have investment in the form of jobs like Fresh Direct. Get enough of that in there and the neighborhood will change.
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Old 05-30-2015, 05:33 PM
 
Location: Bronx
14,773 posts, read 17,397,072 times
Reputation: 7506
Quote:
Originally Posted by vitalove View Post
The South Bronx is very poor and has so many projects. I worked in the Mott Haven area for a period of time. It has a lot of projects and very little development. I think it's crazy that people are speculating that this area will be the next Williamsburg. Crazy.

Anyone looking to invest in the Bronx should go to the North Bronx.
North Bronx is huge. What part of the North Bronx are you talking about, Riverdale, Woodlawn, Bay Chester, Norwood, williamsbrisge, coop city?
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Old 05-30-2015, 06:10 PM
 
Location: New York, NY
1,694 posts, read 1,071,855 times
Reputation: 2034
It all goes in cycles. In another 50 years, NYC will be a crap hole again.
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Old 05-30-2015, 06:20 PM
 
Location: Bronx
14,773 posts, read 17,397,072 times
Reputation: 7506
Who knew that Melrose section of the Bronx is the 2nd busiest area in the city after times square.

City Living: Melrose - am New York
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Old 05-30-2015, 06:25 PM
 
9,701 posts, read 6,666,855 times
Reputation: 9775
Quote:
Originally Posted by vitalove View Post
The South Bronx is very poor and has so many projects.
Presence of projects will not stop gentrification. Manhattan has the most public housing of any of the five boroughs, yet is obviously the most gentrified. There are big projects right next to Lincoln Center and in Chelsea and the Village and even on the Upper East Side, yet hasn't stopped gentrification.
Quote:
Originally Posted by vitalove View Post
I worked in the Mott Haven area for a period of time. It has a lot of projects and very little development.
I suspect you don't work in Mott Haven anymore, because there is tons of development in Mott Haven right now.
Quote:
Originally Posted by vitalove View Post
I think it's crazy that people are speculating that this area will be the next Williamsburg. Crazy.
There are tons of projects in Williamsburg, and the South Bronx has similar conditions as Williasmburg 20 years ago, so doesn't sound crazy to me. Anyplace right next to Manhattan will see gentrification.
Quote:
Originally Posted by vitalove View Post
Anyone looking to invest in the Bronx should go to the North Bronx.
That doesn't make sense, as the North Bronx is much more established, so would have lower investment returns. The point of investment is to get the best return, not to find the least problematic location. Investors are banking on upside, not stability.

And the North Bronx is further from Manhattan. Areas gentrify from the core outward, so obviously somewhere like Mott Haven will gentrify long before somewhere like Wakefield.
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Old 05-30-2015, 07:00 PM
 
23,247 posts, read 16,049,776 times
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Quote:
Originally Posted by WhyRUMad View Post
It all goes in cycles. In another 50 years, NYC will be a crap hole again.
No. It isn't cyclical. You had major structural changes in the economy.

Manufacturings importance has gone down in tge US. Making our lsegest cities much more important as they do other things.
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Old 05-30-2015, 07:40 PM
 
92 posts, read 183,995 times
Reputation: 101
Quote:
Originally Posted by vitalove View Post
The South Bronx is very poor and has so many projects. I worked in the Mott Haven area for a period of time. It has a lot of projects and very little development. I think it's crazy that people are speculating that this area will be the next Williamsburg. Crazy.

Anyone looking to invest in the Bronx should go to the North Bronx.
The development of the South Bronx (or SoBro) is being strategically placed. If you look at the map you will see that the huge swaths of Mott Haven are left completely untouched. Brook ave for example.

The waterfront area or Port Morris, specifically in the southwest portion, is what is being completely transformed. About 5-6 new developments are slated for that area. In this moment, there already exist several trend spots in that immediate area.


149th street looks like another likely target.

Change to that area appears insurmountable now, but so did 125th street not too long ago. I expect the real estate titans to employ a similar type of strategy in the area within the next 5-10 years.

You build and they will follow.
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Old 05-30-2015, 08:10 PM
 
Location: Gods country
5,322 posts, read 4,004,269 times
Reputation: 7366
Quote:
Originally Posted by njkate View Post
I think you are correct, pretty much no where else to go but the Bronx.

Brooklyn is getting $$$$...my son and dil had bought a brownstone in Bed Sty for 678K about 6 years ago and I thought they were nuts. They just sold it for 1.425 million, who would of thought as the area still has some dicey streets.
I bought my place in Stuy Heights in 04 for 420K, just sold it for 1.825.
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Old 05-30-2015, 08:31 PM
 
1,975 posts, read 1,234,875 times
Reputation: 1182
Quote:
Originally Posted by Above Average Bear View Post
I bought my place in Stuy Heights in 04 for 420K, just sold it for 1.825.
I would be curious to know what type of people are buying this houses and did they finance the deal or was it all in cash?
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Old 05-30-2015, 08:39 PM
 
9,701 posts, read 6,666,855 times
Reputation: 9775
Quote:
Originally Posted by Above Average Bear View Post
I bought my place in Stuy Heights in 04 for 420K, just sold it for 1.825.
Wow, good for you. I'm jealous!
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