NEW YORK CITY-Could the Bronx be on the rise? A new report suggests that the borough may be headed there, noting there was a spike last year in both the number and value of investment property transactions.
Investment property transactions in the Bronx increased 23% and the dollar volume of those trades rose 13% in 2013 compared to 2012, according to Ariel Property Advisors' Bronx 2013 year-end sales report.
In 2013, the Bronx saw 295 transactions comprised of 474 properties totaling $1.7 billion compared to 2012, which saw $1.5 billion in sales over 240 transactions comprised of 373 properties. The 2013 figures also represent a significant jump in transactions and dollar volume from 2011 levels.
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Rayna Katz
Rayna Katz is a seasoned business journalist whose extensive experience includes coverage of the lodging sector, travel and the culinary space. She was most recently content director for a business-to-business publisher, overseeing four publications. While at Meeting News, a travel trade publication, she received a Best Reporting award for a story on meeting cancellations in New Orleans during Hurricane Katrina.
