Some real estate agents report increased number of New Yorkers moving from Manhattan to the Bronx – CBS New York
NEW YORK (CBSNew York) –Some realtors say they’re seeing a change in recent months as New Yorkers move from Manhattan to the Bronx.
The O’Shaughnessy family are still moving into their new home in the Bronx.
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âI like the basement because we can step into it and play in it,â said James O’Shaughnessy.
They lived in Manhattan for ten years, but when COVID kept them inside, their two-bedroom apartment started to feel smaller than ever.
âWe needed more space. We both worked at home. The kids were going to homeschool, âDaniel O’Shaughnessy told CBS2’s Ali Bauman.
âMentally, we didn’t have an apartment life anymore,â said Sophia O’Shaughnessy.
They had heard that COVID had made New York City a buyer’s market, but found that the so-called “pandemic deals” in Manhattan were short-lived.
âFor a three bedroom apartment, which we desperately needed, I mean, it was $ 800,000, $ 900,000, a million and just out of reach,â said Daniel O’Shaughnessy.
âWhat hasn’t caught up and what a lot of people don’t realize is that the Bronx isn’t quite there yet, so there is still tremendous value in the Bronx,â the Bronx said. real estate broker Matthew Bizzarro, CEO of the Bizzarro agency. .
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In July, the median selling price of a home in Manhattan was $ 1.2 million, compared to $ 386,000 in the Bronx.
There are no specific numbers on the number of people, but Bizzarro says he sees a change in the Bronx.
âRight now we have tons of customers coming in and telling us directly, ‘Hey, I love this area. I want to move to the Bronx, âhe said. “This is one of the biggest trends that we have started to see in 2021 like never before.”
Over 90% of Bronx residents are minority residents, a higher share than any other borough. Changes in the real estate market are raising fears of gentrification.
âAs high income people move into a community, you have housing developments that increase and the working class cannot afford it,â said Emerita Torres, from the Bronx.
Torres is vice president of policy at the Community Service Society of New York.
âWe need universal protections for tenants. For example, good protection against evictions, âshe said. âWe need to protect those who are not protected by rent stabilization laws. “
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Torres says families who move in can be good neighbors by standing up for those who already live there.