Castle Price Chop in Bedford Park

308 E. 201st Street, 5 bedroom, 3.5 bathrooms - $559K

We featured this when it first went on the market at $599K (and Curbed made fun of us for doing so).
In any case, it's big and cool-looking and has serious parking (for 10 cars). And now you can scoop it up for $40K less! (Although, methinks this won't be the last chop...)

FULL LISTING

~ErLu

The End is Nigh!

This is just a little reminder about the impending apocalypse that is seemingly heading our way.

BoogieDowner commenter "Tired of Being Broke" sent this article along from the Daily News, which alerts us to the lunacy that is Brooklyn real estate prices.

Catey Hill of the News writes that rents and median home prices now outstrip those of Manhattan:

"The median rental prices in DUMBO, Park Slope and Fort Greene were higher than those in the East Village, Lower East Side, Upper East Side, Midtown East and Murray Hill. The median sales prices in Brooklyn's Fulton Ferry and DUMBO neighborhoods were higher than those in Midtown East, the East Village, Murray Hill and the Lower East Side[...]"

Now might be a good time to stock that bomb shelter or get going on that "bucket list."

*pic of mumbling schizophrenic lunatic courtesy of http://farm3.static.flickr.com/2188/1820071783_376c38e980.jpg?v=0*

~ErLu

NYC Real Estate Reality Check

If you are at all interested in New York City real estate, you should check out the New York Times' Charles Bagli's piece today on the effects of Wall Street's woes on the real estate market.

The NYC real estate market is immune to a heck of a lot of things, but it certainly will not survive the current crisis on Wall Street unscathed. Mr. Bagli reports that much trouble is brewing especially with "the explosion of high-priced condominiums in neighborhoods outside Manhattan, from Bedford-Stuyvesant and Fort Greene to Williamsburg and Long Island City." [Bagli, NY Times] Mr. Bagli reports that many of these new condos may now turn into rentals, or will be sold to other developers.

Yikes, you must be sick right about now if you bought an overpriced loft in Bill Burg in the past couple of years. Although of course the Bronx will see its fair share of stalled real estate sales and rentals, we sure are lucky the real estate here was never insanely overinflated. Good luck moving those Fedders buildings Brooklyn!

*Photo courtesy of clintonhillblog.com*

~ErLu

An Oldie but a Goodie for the New BoogieDowner Readership

Since BoogieDowner got picked up by Curbed two days ago, we figured we would treat our newer readers with a post from the infancy of BoogieDowner way back in late August. Here it is:
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Just thought that I'd share a little known fact about house, coop and condo sale prices: they're public in NYC. The City's Department of Finance keeps a rolling file of all closings in the 5 boroughs. The sales are separated by borough and year (all the way back to 2005!). Right now the sales are only current as of Aug 1, but that's not too shabby.

If you download the excel file version, it is very easy to find what you need. Hit Ctrl +F to run a "Find" search within in the document, or just click on the Edit tab up top and pick Find.
Here's the link, just scroll down a bit when you get there: Happy Real Estate Price Voyeurism!

Have fun! You're Welcome...

~ErLu

HGTV's "Hidden Potential" in Throgg's Neck

Well I wanted to post a fancy in-post video or at least a direct link, but since this video is not on youtube, I have to post a link and directions (lo siento, migos!) What a piss-poor blogger. So, please click on the link below and then on the left side you need to click "Seeing Green"- (2nd vid from the top). This episode of Hidden Potential is about a young family house-hunting in Throgg's Neck on a budget.

HGTV Hidden Potential - Throgg's Neck

It's always nice to see mainstream media (is HGTV mainstream?) covering the Bronx.

~ErLu + Jay O.

The Hunt: More Evidence of Manhattanites Flocking to the BoogieDown

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
~ErLu

Parkchester - Still a Hidden Secret?

Parkchester, a city-within-a-city located in the Northeast section of the Bronx, contains that exceedingly rare and exclusive sought after illusion in NYC these days – affordable housing stock! Built as attainable and affordable housing in the late thirties by Met Life (who also contributed Stuyvesant Town and Peter Cooper Village in Manhattan), Parkchester has always been a haven for working and middle class New Yorkers. But now the secret is out and many Manhattanites, seeking relief from the ever escalating NYC real estate prices and the deregulation of formerly affordable rent-stabilized apartments, are on the move northbound to Parkchester and other communities of the Bronx that offer safety, spacious apartments, green space, easy commuting into Manhattan, and most important – prices that the average person and/or family can afford. (Not many places exist in any of the boroughs where a house hunter can find condos starting at $115,000!)
Parkchester Photo Slideshow

Manhattan is easily accessed by the #6 subway and by an Express Bus. All amenities are within walking distance of each apartment (Macy’s, Starbucks, Dress Barn, NY & Co, The Children’s Place, Radio Shack, Hollywood Video, Walgreens, etc. as well as a plethora of banks, supermarkets, fast food establishments and its own post office, day care and movie theatre!) The Bronx Botanical Garden, Bronx Zoo, Belmont Avenue/ Little Italy, Fordham University, Orchard Beach and City Island are all short bus rides away.

Ny Times' "Living In- Parkchester"

Parkchester Apartment and Community Info
~Simone Davis

Luxe Condos in the Bronx

The Grand Concourse's beautiful Art Deco buildings, Yankee Stadium and the Bronx Museum of Art are the surroundings for these new luxury condominium and cooperative developments. The prices are absurdly low, ranging from 100K-300K and from 1 to 3 bedrooms. Amenities range from gyms to parking, from vistas of the city to proximity to the Hub and other shopping and transportation. All this and granite counter tops. The Question is: "Can the neighborhood keep these developments afloat? Will they sell?"

Well it seems that the Orion has sold out and the Aurora and Solara are not far behind.

Links Below:

The Orion

The Aurora

The Solara

So has anyone purchased one of these or live in the neighborhood? How is it going?

~ErLu + Jay Ortiz