Hey NYC RE gurus…

Quick survey: what’s the highest amount you would pay for a gut-renovated 1-bd (hardwood floors, lots of closet space, but small bathroom and no dishwasher in kitchen) in a elevator co-op building in North Riverdale, The Bronx? I know w/o pictures this is a blind ask. But I’m trying to get a sense of whether I’m overpaying (and frankly, StreetEasy isn’t really helpful. Prices are all over the place in this area). Thx.

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Regarding the Bronx, everyone I knew there moved out. Seriously have not come across anyone trying to move into the Bronx.

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Well, to be honest, that’s the only borough I can afford at this point. Even most of Queens and South Brooklyn has become out of reach for “regular” people who don’t work in tech or finance and/or have family dough.

And Riverdale is a nice neighborhood, IMO.

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I wouldn't live there personally, but the average seems to be around 2k for a 1bd. The rent may be lower than other places, but take into account your commuting time/expense (if you do commute to the office) and safety.

For 2k rent, you can probably get a decent apartment in better neighborhoods that's not Manhattan (or with a roommate in Manhattan).

Deloitte 1: I was asking about the cost of buying, not renting.

Everyone in New York uses StreetEasy so I find it to be pretty realistic. Your realtor should also help you by running comps esp in the same building

It’s the same calculation in every city in the world. The math doesn’t change. The data changes. You gotta plug all the data in. The calculator depends on your strategy. If it’s buy and hold you’d want to use the rent vs buy calculator. Buying is not always better.

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