NYC renters to spend two-thirds of income on rent in 2016
May 8, 2016

Bronx, Staten Island home sales jump


Kenneth Kearns, the district manager of Bronx Community Board 10 which represents the area, said he has seen a surge in those neighborhoods thanks to New Yorkers being priced out of other areas.
“I think that there are economic forces in the city, particularly in Brooklyn and Manhattan, that drive them here. There isn’t a lot of availability,” he said.
When they do arrive, they realize that they have quality access to parks, shops and other amenities. Most importantly, transit into Manhattan isn’t as terrible as you might think thanks to express buses, according to Kearns.
REBNY’s experts said this trend will continue for both boroughs especially as new, expensive developments continue to sprout up in Brooklyn and Manhattan.
Of course, fears of gentrification persist whenever there’s a surge in sales like this, but Kearns, of the Bronx, said he isn’t worried about his borough.
He pointed to zoning laws restricting development to one-to-three family homes in the area along the Bronx waterfront.

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