Is the Bronx overpriced at the moment?

[Alex Builder]

Hi,

I'm a Bronx investor seeking an empty lot or old house in R6, R7 or R8 zoning but having a hard time doing so... It appears as everything has doubled or tripled in price within the last year from Bk and Queens investors entering the market. 

I personally think the market itself is overpriced bc the rents and quality of life are not on par with the prices these investors are paying!!!

Any insight would be greatly appreciated.