Listing of the Day; Port Morris 3 Family

727 E. 136th Street, 8 Bedrooms, 3 Bathrooms - $359,000

This is a 3 bedroom above a 2 bedroom above another 2 bedroom above a basement (I guess they're counting the basement as a bedroom?). If you wanted to you could live in the 3 bedroom unit and rent the other two out to help make ends meet. Eight bedrooms is a lot of space for $359K, no matter what. And this is not a knock down and doesn't seem to need an absolute gut renovation.

Port Morris can be a little industrial. It's adjacent to Mott Haven to the east. In fact this house is sort of right near the Bruckner Expressway. Port Morris doesn't have the same growing art scene as Mott Haven nor the concentration of attractive eating establish-ments, but Mott Haven doesn't have three families for $359K.

A big plus to Port Morris is that it is very close to Manhattan. the Cypress Avenue 6 train stop is just a few blocks away from this house.

FULL LISTING

~ErLu

Port Morris Gets Some Love

New York Times' Alison Gregor has filed a piece singing the praises of Port Morris as one of the last great industrial areas left in New York City.

Like much of the BoogieDown, the biggest perk for the many businesses who have relocated to Port Morris from other NYC hoods is the easy access to vehicular and mass transportation.

At a time when most of the country's/city's real estate market is in the shitter, the Port Morris market is described in Gregor's piece by a CB Richard Ellis senior vice president as: “a very tight market — it’s a tight market for lease, and it’s an even tighter market for sale." [NY Times]

The article goes on to say that while the office vacancy rate in Manhattan is expected to hit double digits soon, Port Morris currently has a vacancy rate of just 2%.

This serves as a nice follow-up to our previous post about the South Bronx Overall Economic Development Corporation... They are mentioned throughout this Times' piece because they have been instrumental in the area's transformation from the symbol of urban blight to a place where businesses can flourish.

Check out the full piece here.

*Map courtesy of www.nytimes.com*

~ErLu

Listing of the Day: Super Cheap SoBro Artist's Loft

700 E. 134th Street, $1375/month

Granted, it looks like the address of this loft lands it closer to the mostly industrial and still sorta shady Port Morris section of SoBro, but it also appears to be within walking distance of all the other hipster amenities found on Alexander Avenue. Everybody knows that in order to get a good deal, you need to look on the fringes of already revitalized areas, right? Right.

Plus, look at this place... Exposed brick walls, hardwood floors throughout, renovated kitchen complete with stainless steel appliances, and tons of natural light. Basically, this loft would allow you to have the street cred of a struggling artist living on a shoestring budget in SoBro, while actually having an apartment that looks as if it's better suited for the yuppies you've fled to the BoogieDown to escape.

According to this New York Times article, the fact that there's already a working shower may actually turn some artsy folks off this place... But I think most people would agree that a working shower is a pretty sweet thing to have.

View full listing here.

~ErLu

Gays, and Now Pastry Entrepreneurs? The Bronx is on Fire!

What seems like some sort of illegal marriage made in heaven, an influx of gay families and the relocation of Dufour Pastry Kitchens from the Meatpacking district to the Bronx, are actually completely unrelated stories.

Huh?

No, it's true. After making history in 1984 by being the first non-meat manufacturing business in the Meatpacking district, Dufor Pastry Kitchens found itself by 2005 being priced and sized out of Manhattan. Carla Krasner and Judi Arnold of Dufour had the foresight and wisdom to search in the Bronx. (photo courtesy of NY Daily News)

"Luckily, Dufour found Port Morris [really just south Mott Haven? We all know how Bronx neighborhood borders are notoriously ambiguous] in the South Bronx, with affordable rent and nearby transit. 'We found open arms,' said Arnold, whose firm was eligible for two tax-incentive programs." [NY Daily News]

It's always great to see new businesses, great businesses, populating the Bronx. I'm starting to see a theme to a lot of our posts here: affordable rent and nearby transportation. Hmmmm....

Pastry Biz Fills Knead in Port Morris [NY Daily News]

~ErLu