One of the (very) early signs that new construction is about to start is that old buildings are being demolished. In New York City, the total number of demolition permits issued in all boroughs has been on an upward trend, although it’s a slow rise.
Archives For Bronx Real Estate
Articles on Bronx real estate. Read distressed properties stats, market trends and more.
Real estate in the Bronx might not be on every home buyer’s tour these days as closed sales in 2012 hit a 5-year low. 2,339 homes in this borough found a new owner last year, a 4% drop compared to both 2011 and 2009 and a larger drop compared to 2008 and 2010.
The median sale price was $288,990, inching up by only 1% year-over-year, but still down compared to 2009 ($296,976) and 2010 ($320,000).
NYC renters with “high aspirations” (literally!), we invite you to have a look at our chart of the week, featuring the tallest residential towers in each borough in NYC. Unfortunately, the limit is not really the sky, but somewhere around 870 feet or 76 floors high. In Manhattan, at least.
870 feet is how high NYC’s (and the world’s) tallest residential tower goes. 8 Spruce Street, the Manhattan tower designed by Frank Gehry, boasts 76 floors and 890 residential units to choose from. Just be reminded that the higher you want to go, the more money you’ll have to take out of your pockets for the view—at the end of last year, rents in Gehryland were going as high as $60,000/month.
Home sales activity in the Bronx saw one of the worst performances in the past 6 years with only 352 closed transactions, down 26% over Q2 2011, and down 19% over the same quarter of last year.
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The number of home sales in the Bronx in the first half of the year was the lowest since 2005. Only 667 homes changed hands in the first two quarters of 2011
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A 44-unit apartment building located at 509 West 212th Street in Inwood, Manhattan is scheduled for auction on April 6th 2011. The lien amount is $5,288,753.
509 West 212th Street Bronx
With 16 properties scheduled for foreclosure auction for the first time in August 2010, Bronx saw a 27% decrease compared to both August 2009 and July 2010. With one in every 10,511 Bronx homes scheduled for auction, the borough has the third highest rate of foreclosure per household among the five boroughs.
Browse current individual Bronx foreclosures.
With 45 new scheduled foreclosure auctions in May 2010, the Bronx saw a 275% increase compared to May 2009 (12) and a 61% increase compared to April 2010 (28). Bronx zipcode 10466 (Williamsbridge, Baychester, Woodlawn, Wakefield and Eastchester) recorded NYC’s second highest number of scheduled foreclosures last month.
There were 29 new foreclosure auctions in the Bronx in July 2009. This is down 12% from June 2009 and level with July 2008 values. With 9 new scheduled foreclosures, zip code 10466 (Williamsbridge, Baychester, Woodlawn, Wakefield) was in the top 15 for foreclosures in New York City. Click the Bronx interactive foreclosure map below to see the location of scheduled foreclosures for July 2009.
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