The article, titled "Attention Priced-Out Shoppers," provided insight to those in New York City who were looking to buy in the Bronx -- which is both stable and financially within reach.
Here is a blurb from the interview, which touches upon pricing options in the Bronx:
According to Mr. Sasse, one-bedroom co-ops range in price from $100,000 to $150,000, depending on the extent of renovations, with the median around $119,000. Two-bedroom co-ops, when available, usually start around $149,000.
Studios often start around $90,000. Mr. Sasse says some can be had at lower prices if deals are all cash or are part of a pre-foreclosure process.
Single-family homes run mainly between $300,000 and $400,000, according to a review of listings on Zillow.com — which recently showed 71 listings, including co-ops and condos.
Prices have not recovered fully from the financial crisis of 2007 and 2008. Mr. Sasse cited one listing, a one-bedroom “bought at height of market” for $119,000 as having been relisted at $112,000 “and we might still have to come down a bit, so prices are not back at pre-recession level yet.”
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