All Forum Posts by: Chris Rosenberg

@James Northrup

I was also thinking about moving to Cypress Hills. I know the area since my family grew up there. I have a few questions for you if you have time to speak. 

@Account Closed

Do you think you can put me in contact with your realtor friend in Cypress Hills? I'm in the market for a three family, possibly in the area. 

Some investors in the south Bronx I spoke to are willing to pay a 5 cap for a turnkey or around an 8 cap for a fixer upper. Guys doing full rehabs are trying to almost double their money on 3-4 family houses. If it's in a decent neighborhood or an up and coming neighborhood (I don't think anything is up and coming in the north Bronx) then it sounds like a decent deal to rent out. Doesn't sound good for a flip tho. It really depends on the neighborhood. I don't think cap rate would be applicable here to compare prices on a duplex. Also, using a 203k might be better than using hard money for the rehab 

Ok great thanks. 

So I'm starting a yellow letter campaign and some of the contacts are property managers and corporations. How do you go about marketing to them? I'm looking to buy 3-4 family houses. Should I type up a letter using the same wording as my yellow letter and include a business card? Should I use a return address when sending to corps and prop managers? Thanks. 

Hello all. My fiancé and I are looking to purchase a 3 family in the Morris Park area of the Bronx. I'm looking for a good real estate agent who is familiar with the area. We are ready to purchase now. Does anyone know of any good real estate agents in the area? Thanks. 

@Barbara G.

The small section south of the bruckner is away from the projects. North of it has projects everywhere. Mostly apartment buildings. Old row homes. Poor area. Convenient to manhattan via a quick subway ride. Not like Arthur Ave at all.

I'm personally looking to move into Morris Park. Looking for a 3 family house there. 

@Nazimcan S. Where is Bruckner Artist Residences? I couldn't find any info on it. The article you linked to I've read. Also 

http://www.nydailynews.com/new-york/bronx/bronx-hi...

http://ny.curbed.com/tags/south-bronx

https://www.halstead.com/about-us/recent-press/art...

http://www.nytimes.com/2011/09/04/realestate/poten...

http://forgotten-ny.com/2013/11/mott-haven

They all make the area sound exciting but the landscape seems different than other places that gentrified. Not along the water but further in, on the other side of the Bruckner. There are just so many projects there. 

What local blogs are you subscribed to? Also, my fianc

@Nazimcan S.

I agree, if it was already there...

Born and raised in nyc I've been everywhere and I've seen lots of places change, especially in Brooklyn. I've noticed that prices rise before you even start seeing the changes. The beginning of the change you would never know unless you were very familiar with the area. But some places just feel like gentrification is inevitable. 

I was over by the clock tower and the areas surrounding it a few months ago on a Saturday afternoon. I noticed it was like a ghost town. Shops and restaurants were closed in that little section by the clock tower and I was wondering why. Also, I heard that the guy who renovated the clock tower is going to be doing more projects like that very close by. Where were the art galleries you visited?

Port Morris was also desolate and kids with dirt bikes were riding around all over. Mott Haven above bruckner is littered with projects. It's tough to really know the ins and outs when you don't live or work there. 

@Nazimcan S.

@Carl C.

I agree with you both. I would like to target the south Bronx but my fiancé couldn't live there the way it is now. It definitely has potential and I hear it a lot from Bronx residents. I was just in red hook Brooklyn last night and it sure did remind me of Mott haven and port Morris. Red hook is right on the water across from Manhattan through the battery tunnel and wow did that area change for the better, but where the projects are is still straight ghetto and might never change. So be careful because you need to truly know the block by block boundaries and where a bad part just can't turn into a good part. In the south Bronx it seems like the area near the clock tower has changed for the better. The south Bronx has been pushing for change for a long time but it just never happened. The area is littered with projects. But the south Bronx 139th st train station is an extremely short ride to grand central. And definitely follow the artists. They start the trends.