This week's New York Times "Hunt" real estate article features a young professional who recently realized his goal of owning a home by purchasing a three bedroom co-op on the Grand Concourse near Yankee Stadium in the Bronx. Micah Bergdale, 26 years old, previously rented in the financial district of Manhattan. Once he decided to buy an apartment, he quickly realized that with a budget from $250,000 to $400,000 he was completely priced out of Manhattan and was not happy with the high prices per square foot in Queens.
Mr. Bergdale's new home on the Grand Concourse
Looking to stretch his money further, he widened his search to the Bronx and was blown away by the affordability and the amount of space he could get. This spring, Mr. Bergdale bought his 1500 square foot co-op for $265,000 and is spending about $30,000 to hire his super to handle updates and renovations (including a new, open kitchen). He has even become Treasurer of his co-op's board.
Kudos to Joyce Cohen for yet another fine job highlighting a middle-class buyer who was able to realize the dream of homeownership in the Bronx. Welcome and congratulations Mr. Bergdale! If you ever happen to find this post, we'd love to hear a comment from you about your new home and new neighborhood.
This week's Hunt article by Joyce Cohen