Our New York City team identified and analyzed the ten most affordable market-rate co-ops for sale in the Bronx right now.
"When people say that New York City is no longer affordable, what they really mean is that the familiar neighborhoods are no longer affordable," said Constantine Valhouli, NeighborhoodX's Director of Research. "But if they cast a wider net, there are parts of New York City that are priced on par with Detroit."
The analysis looked at market-rate apartments, so it excluded HFDC and income-restricted housing. The prices for the ten most affordable co-ops ranged from $54,900 (829 Adee Ave. #6C) to $75,000 (1015 Anderson Ave. #1D). On a per-square-foot basis, the prices ranged from $81-140 per square foot. Yes, you read that correctly.
What can buyers get for these prices? The least expensive property is a 450sq.ft. studio in Olinville, while the most expensive is a 900sq.ft. 2 bedroom in Highbridge - all of which you could purchase outright for the price of a downpayment elsewhere in the city.
More details at the chart, below. Readers can mouse over chart bars for more analytics, and property addresses link to the listings.
For market commentary or for data regarding a story, please contact us at (917) 447-8800.
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