Tuesday, September 8, 2009

Listing of the Day: Best Bang for Your Buck on Bronx Park East

2244 Bronx Park East 5E, Studio, 500 square feet - $79,000

This studio is a crazy bargain for the state of the unit, the building and the hood. This is located just north of Pelham Parkway and just east of the New York Botanical Garden. The building overlooks some nice greenery in Bronx Park.

The unit itself is very nice. ErLu actually visited it when we went on the North Bronx Co-op Trolley Tour last a week or so ago. There is more space than you'd think in a studio. The floors are refinished, and there is even a little changing room leading in to the bathroom.

When you crunch the numbers it just makes a lot of sense. Assuming you went to contract at asking, that means you'd have to come up with $19K, which isn't chump change, but certainly not crazy in the grand scheme of New York City real estate. With a 30 year fixed at 5%, your monthly would be a scant $428.85. If you add in your maintenance of $279, your total monthly be $707.85. That aint bad for a nice studio in a decent hood.

Speaking of the hood, you'd be close to the Botanical Garden and the Zoo. You'd still be near Arthur Avenue. Fordham University is right around the bend as well for cultural and sporting events. Pelham Parkway itself is a nice amenity; it basically serves as a miles long stretch of greenery between Pelham Bay Park and Bronx Park that you could use to bike, run, walk, or lounge.

The transportation is sweet with the 2 and 5 trains at White Plains Road and Pelham Parkway.



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