SoBro a No Go? Say it Aint So...

Obviously the credit crunch is hitting everyone and everywhere. The South Bronx is no exception. The Real Deal has written an insightful article about the touch-and-go gentrification of the South Bronx.

South Bronx Buzz Fizzles: Gentrification on Hold [Real Deal]

While it seems the Real Deal does not share the same unbridled optimism about the Bronx as the Boogiedowner does - way to pass on the koolaid Dealy - there were some notable aspects of Christopher Faherty's article. Here they are:

On the proximity to Midtown and Billburgy-ness (but only cooler):

"Closer to Midtown than most of Harlem, the South Bronx bursts at the seams with warehouses reminiscent of Williamsburg and Red Hook. It's dotted with landmark-designated blocks throughout the neighborhoods that make up the southern tip of SoBro — Mott Haven, Port Morris and parts of the Grand Concourse."

On the Hope for Hip-Strip Alexander Avenue (Corcoran is involved, and they don't hustle garbage):

"Investors and homeowners living on or near Alexander Avenue in Mott Haven, one of the few townhouse-lined streets in all of the Bronx, are abuzz over eight new properties that recently hit the market. The properties, which make up about half of the homes in a three-block corridor, were recently put on the market after local landlord John Carney died earlier this year, listing agent Adrian Thompkins said. While Thompkins, of Corcoran, described Carney as a wonderful man, he said the properties had fallen into disrepair, and said locals are excited about the prospect of new buyers and renovations. "

We can find the silver lining through anything, huh? Buy now, buy low, make lots of dough.

~ErLu