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Mike Brady (not verified) says:
Out of all 5 boroughs, the Bronx indeed has the cheapest rent by far. Thats mainly because for decades, the Bronx as been considered the forgotten borough where developers and investors refused to put their money in.
Now that Manhattan has pretty much peaked as far as development and prices, investors are now pushing the new development threshold further north like Harlem. That's why you see so many new buildings/condos going up. Next stop is Washington Height, Dyckman, Fordham Road in the Bronx, Yankee Stadium area, northwest and northeast Bronx by Van Cortlandt Park and Gunhill Road/White Plains.
In my opinion, it's both a good thing and a bad thing depending who you ask. The good thing is that with new "high class" development in the Bronx, you indirectly force out any "ghetto" or "undesirable" people from the Bronx who contributed to the bad reputation the Bronx has had for decades. I know it may sound harsh but it's true. Look at Harlem now! Ever since new "high class" development have been going up, Harlem has become a safer and more beautiful place to live. As oppose to years ago when all you would see is graffiti riddled building, abondoned/burned down buildings and so on. It was crime infested and an eye-sore to look at the condition of Harlem at that time.
The bad side is... not everyone is "ghetto" or undesirable. The good people get priced out and have no choice but to move to somewhere cheaper. Or even possibly move out of NY altogther.
Out of all 5 boroughs, the Bronx indeed has the cheapest rent by far. Thats mainly because for decades, the Bronx as been considered the forgotten borough where developers and investors refused to put their money in.
Now that Manhattan has pretty much peaked as far as development and prices, investors are now pushing the new development threshold further north like Harlem. That's why you see so many new buildings/condos going up. Next stop is Washington Height, Dyckman, Fordham Road in the Bronx, Yankee Stadium area, northwest and northeast Bronx by Van Cortlandt Park and Gunhill Road/White Plains.
In my opinion, it's both a good thing and a bad thing depending who you ask. The good thing is that with new "high class" development in the Bronx, you indirectly force out any "ghetto" or "undesirable" people from the Bronx who contributed to the bad reputation the Bronx has had for decades. I know it may sound harsh but it's true. Look at Harlem now! Ever since new "high class" development have been going up, Harlem has become a safer and more beautiful place to live. As oppose to years ago when all you would see is graffiti riddled building, abondoned/burned down buildings and so on. It was crime infested and an eye-sore to look at the condition of Harlem at that time.
The bad side is... not everyone is "ghetto" or undesirable. The good people get priced out and have no choice but to move to somewhere cheaper. Or even possibly move out of NY altogther.