Some real estate professionals say there’s no doubt north is the way to go.
With only Manhattan separating them, is it time for the Bronx to admit that it has more in common with Brooklyn than previously thought?
According to some real estate professionals, the answer is a resounding yes. Even if the idea of the Bronx being a great place to live or invest raises eyebrows from hipsters to former-hippies now comfortable in their Manhattan apartments.
Consider this bit of history. When the Sex and the City character, Miranda, announced she was moving to Brooklyn the idea was so abhorrent to Manhattanites that the New York Post ran an article listing all the (real-life!) hip spots that Carrie and Miranda could frequent.
Now, only a decade later, Brooklyn’s average rent for a one-bedroom apartment runs between $1,600 and $2,900, depending on the neighborhood. It costs about $790,000 on average to buy a home, and well into the millions in trendier neighborhoods.
What’s a dedicated middle-class New Yorker to do?
Manhattan? Probably not with rents running $3,000 and buying about a $2 million endeavor.
It may be time to head north.
First, there’s the basic premise that Brooklyn prices are continuing to go up, so the Bronx is a more affordable option given the average rent of $1,200/month.
But consider the other benefits of the Bronx, like great transportation. The subway and other public transportation options are excellent—and traveling from midtown to the south Bronx is a fairly short commute.
For example, it’s only a 24-minute subway ride from Radio City Music Hall to Yankee Stadium. The residential areas just north of the stadium are considered up-and-coming, and affordable, according to multiple sources.
If driving is a must, it’s actually possible in the Bronx. I-87 along the west side of the borough is far easier to navigate than, say, the lower east side or Time’s Square.
For the more green-minded commuters, the recent opening of the historic High Bridge (New York’s oldest standing bridge, originally used to transport water from the Croton River to New York) offers a quick, convenient pedestrian and bicycle route from Highbridge to Upper Manhattan.
Not only are the rents in the neighborhood still reasonable, but the apartments are often in renovated historic buildings, originally constructed in the 1920s and 1930s.
For even more gorgeous, historic, architecture the buildings along the 5-mile stretch of the Grand Concourse are an excellent option. While this area, originally inspired in the early 1900s by the Champs-Elysees in Paris, fell into considerable disrepair in the 1970s and ‘80s, an $18 million restoration and landscaping initiative in 2008 revitalized the neighborhood.
Further north still is Fordham Heights, which is flanked by both the Bronx Zoo and the New York Botanical Garden, and much more affordable than the real estate near Central Park.
Continuing north (no worries, not Niagra Falls!) recent re-zoning along Webster Avenue has created spaces now open to residential development that is working and middle-class friendly.
While these areas are not all a short commute to the culture and delights of Manhattan, they are still within close enough proximity (about an hour on public transportation) for trips into the city, business meetings, or even daily commutes.
Plus, culture and great food is already a part of the Bronx! In addition to the Zoo and the Garden, multiple colleges and universities offer music, dance and theatrical events.
The food scene? Solid—and growing.
Many New Yorkers believe that the Bronx is home to “real” Little Italy. Practically disdainful of catering to tourists, Arthur Avenue in the Belmont Neighborhood is still lined with Italian shops, markets and restaurants that have been there since Italian immigrants settled the neighborhood in the 1950s.
For the real “foodies” of New York, it’s good to know that there’s a culture of food that’s diverse enough to bring Anthony Bourdain to the Bronx.
In 2014, CNN aired a Bronx episode of Bourdain’s show “Parts Unknown.” Bourdain sampled Arthur Avenue’s Italian offerings, but dove whole-heartedly into Puerto Rican, African and Caribbean dishes.
“If the Bronx were a neighborhood in Manhattan, sort of shrunk down, you’d have hipsters crawling all over this place.” Bourdain quipped.
Affordable, easily accessible by public transportation, and with vibrant neighborhoods and ethnic diversity–in a New York minute the Bronx may beat Brooklyn as the place to live.
Digitally savvy equals success for trucks and foodies alike.
Hot dogs, pupusas, kebabs, bamboo rice sticky bowls, fried chicken, falafel, bulgogi, and tacos made from any and all of the above. That’s “Food Truck Food,” New York City style. Every type of ethnic, fusion and fabulous food, prepared fresh daily, in food trucks on every block and in every borough.
Officially there are 4,235 food vendors in New York City, but unofficial estimates (which include non-permitted vendors, as well as rented and black market licenses) are at least double that number.
Entrepreneurial, fun, and, with a rapidly growing market, food trucks are beyond popular. But, it’s also a competitive market so it takes more than wonderful waffles, like the Belgian awesomeness of Wafels & Dinges, to keep customers coming back and to turn a profit.
It takes technology—starting with the right dongle.
No, a dongle isn’t a type of donut fusion with some exotic glaze. It’s the small credit card reader that attaches to phones, tablets and laptops so people can pay using a card.
Square has been the popular choice for this task since at least 2011, according to an article in Mashable. It, and digital tools like it, “make running a mobile business much easier and more efficient, since you don’t have to waste time counting cash or getting change from the bank.”
Square also has services to track sales, set up price lists (including specials!) and manage inventory. Square charges, on average, about 2.75 to 3.5 percent of the sale which makes them affordable on a lean budget. Other, similar, merchant vendor devices and services are offered by PayPal.
Once a food truck has the ability to accept payment in all forms, the next step (a daily step!) is to let customers know they’re open and ready for business.
This requires social media, including Twitter and Facebook, as well as membership with a mapping and food truck-tracking website and app.
Why the need to have multiple, facile, platforms and apps?
The most obvious reason: food trucks are mobile. With traffic, construction, protests and parades trucks need to be able to adapt to ever-changing landscape of city—yet still let people know where to find the food.
Social media lets food-truck-fans follow digitally so that following the path of favorite trucks literally is easier. Also, in order to make ends meet many trucks offer catering and delivery—usually via-online-ordering.
That’s where joining up with a site like RoamingHunger really comes into play. The company has been around since 2009 and has maps of multiple cities where all the best food trucks are listed, mapped (with time as well as place!) and tracked.
Based on the site’s list of popular trucks, including Korilla BBQ which won the Rookie of the Year Vendy in 2011 and is still going strong, connecting to a website like RoamingHunger is mandatory for mobile eateries. It effectively gets the word out and brings customers in.
For those on the other side of the counter, the food-truck-foodies, technology makes finding new options and old favorites easy. In addition to RoamingHunger, FoodTrucksIn offer location and contact information for food trucks (if the truck has “checked in”) as well as a sort feature for hungry foodies to look for the exact type of food in which they’re interested.
Of course, for calorie-free enjoyment there’s always Pinterest and Instagram. Many food truck vendors use these sites to highlight their really “wow” menu items.
Though you may still be uncertain which food trucks to visit for lunch as the weather gets warmer, one thing is for sure: food trucks and technology may both be mobile, but as a pairing they aren’t going anywhere.
New York City is a city with many reputations, not all of which fit neatly in a box. The restless metropolis is both a financial and artistic capital, known as much for Time Square’s neon ad-space as it is a canvas for renowned creators from poet EE Cummings to muralist Banksy.
Walk down a street and you’ll see a flashy Apple billboard on one side and street art on the other. Jump on the Q train, and you’ll see a Seamless campaign on the wall alongside a poem by Walt Whitman. New York has managed to allow ads and art to share space, even when the former is not as financially viable. How can this be, and can there be harmony between the two—and just as importantly, those behind them?
It’s important to begin by prefacing that ads and art have a lot in common. Overlap exists in the skills used to create them, and in their impact: catching the eye, heart, or mind’s attention, or eliciting a certain emotion. The difference is all in the intent: art isn’t selling anything, except itself or an idea from time to time.
New York City’s history as an artistic hub is well-known. To this day artists flock to New York City for its vibrant art scene, though the barrier to entry—not to mention the rent—has gone up since the days of beat poets and starving artists. Home to some of the world’s best art museums, like the MoMA and the MET, New York City is an artistic mecca in all fields: music, theater, writing, painting, you name it. And why not? With a rich history, diverse populace, and colorful culture, the streets are steeped in inspiration from the Bronx to Brooklyn.
Still, as much as artists are drawn to its lights like moths to a flame, New York has always been about the money first: think Wall Street, Upper West Side mansions and TriBeca penthouses. A beacon of hope in theory, the city of opportunity is also incredibly cut-throat. These days, “making it” means making money. And one way to do that? Go commercial.
Advertising is far from the only field that has commercialized art, but it’s certainly notable from an aesthetics perspective. The site of the hit AMC show Mad Men and the real life ad scene that inspired it, New York has also been an international hub for advertising for over a century. Among others, New York is home to the Omnicom Group, the second largest ad agency in the world with an annual revenue of over $15 billion.
Times Square is the most obvious, visual representation of NYC’s ad status. As early as WWII, the area has been a major intersection and prime vision of ad-space since the late 1800s. The first electrified advertisements appeared in 1904 and grew significantly in the 1920s. Though it declined and rose with the city over the years, especially following the Great Depression, WWII, it’s one of the biggest tourist attractions in the world to this day. This is stunning when you consider that people are traveling across the world to essentially see advertisements in bulk.
It’s worth noting that Times Square isn’t a godless vacuum of cheap Elmos, naked Cowboys, and Coca-Cola ads: it’s also the heart of New York City’s theater district. Broadway has been a safe haven and love of artists for decades, but it’s also a multi-billion dollar industry, much like other forms of entertainment: music, movies, etc.
Is it surprising, then, that you can walk down the street in New York and still consume art for free? As Jordan Seiler, founder of the Public Ad Campaign,” told the New York Times, “Advertising frames the public environment as being for sale but public space is not inherently commercial.” New York has always valued art and will always have people in the public and private sector pushing to showcase it.
Seiler’s project, Public Ad Campaign, advocates for artists taking over public ad space. It also promotes an app called “No Ad” that uses augmented reality to transform ads into a “curated digital art experience” — among other partnerships, tools and exhibitions. The idea is for artists and art-lovers alike to resist ads in favor of artistic messages.
This renegade approach may not be wholly necessary, because it appears that New York is already on board with not-for-profit ads; the two coexist and not compete. People who work or study advertising, for their part, often create their own art on the side (there’s a reason the industry attracts writers and illustrators). More importantly, public projects commissioning local artists to decorate subways and “beautify” neighborhoods are proliferating. Heck, the MTA’s “Poetry in Motion” was even brought back by popular demand.
This just goes to show that people like art for art’s sake, and the city knows that. It’s in their best interest to keep this in mind in order to attract residents and keeping commuters happy. For this reason, we can expect to continue seeing artists given a seat at the table, even if they’re sharing elbow space with Don Draper.
The concept of ride-sharing, exemplified by popular services Uber, Lyft and their corresponding apps, is still a fairly fresh transportation trend. Unlike regular planes, trains, and automobiles, ride-sharing apps constitute startup business models that have the potential to disrupt entire transport ecosystems—especially in regards to the already robust taxi fleets in major cities like New York.
Will taxi fleets be a thing of the past, lost by the wayside like horse-drawn carriages? New research out of the Massachusetts Institute of Technology suggests that, if passengers get on board with the car-pooling elements of ride-sharing services, New York City’s transportation network could be supported with just a quarter of its current 14,000 yellow cabs. As few as 3,000 vehicles, researchers say, could service the entire metropolis.
Because the remaining vehicles could be Ubers, Lyfts, Junos, Vias, Getts, or other black car with an app attached, New York City could in theory pull a whopping 85% of its yellow cabs and still service 98% of commuter demand. This would come with huge consequences, both good and bad. As an obvious negative, thousands upon thousands of drivers would lose their jobs. As a positive, congestion could clear up significantly along with pollution.
Of course, these predictions are still largely speculative. They operate on the assumption, first of all, that commuters would be willing to use ride-sharing apps and, importantly, share their cars with other people. Since many people choose cabs to avoid sharing space with strangers, this assumption may be a stretch.
Researchers also factored the rise of autonomous vehicles into the equation. Their algorithms suit autonomous vehicles best, as this technology would in practice plan routes most efficiently. The whole point is that less traffic, smarter vehicles, and ride-sharing would make cab-hailing (and even driving) unnecessary. Without autonomous vehicles, you still get traffic and accidents, meaning more drag-time on the road.
It’s true nonetheless that autonomous technology is progressing rapidly, with investments in the field growing too. But the fact remains that most Americans are simply not interested in autonomous vehicles, and cite a lack of trust as a big reason.
But assume that autonomous cars do catch on in a big way. PBS speculates that this would simply lead to more congestion and emissions, as people would choose go about their professional or personal activities enroute. If people are willing to work, eat, and sleep on the road, this is certainly a possibility. So the question becomes, are New Yorkers more likely to get comfortable in a driverless car for a grueling but hands-free commute, or rub up against strangers for a fast one?
Whatever the case, New York City’s taxi drivers appear to be bracing themselves for change, whatever magnitude it may be and however soon. Though researchers claim that limiting fleet number would be an improvement—the same amount of money for shorter shifts—not everyone is convinced.
The shift is well underway, and taxi drivers are feeling it. According to the New York Times, taxi medallions are going for half of the $1.3 million recorded just three years ago, and the average number of daily taxi trips has been reduced by 100,000 in comparison to six years ago. As more people grow comfortable using apps to catch rides, the decline of yellow cabs isn’t just inevitable. It’s already happening.
In a way, the vanishing of taxis, if and when the time comes, will be the end of an era. Yellow cabs have become synonymous with New York life: a quintessential flash of color in a sometimes gloomy cityscape. It’s hard to imagine the city without them. But nostalgia can’t erase the fact that ride-sharing is cheaper, easier, and more efficient than sticking your hand into the street and hoping to catch a car at random.
If taxis become obsolete, is transport system run by ride-sharing startups ideal? Judging by the recent backlash against the Uber, perhaps not. Ride-sharing companies, still only about decade old, have a lot of kinks to work out in order to prove that they are in the drivers’, employees’ and customers’ best interest. Given the fierce competition, we’ll likely see adjustments in the market to meet the demands and preferences of the public. If the result is black instead of yellow, so be it.
As anyone on the planning end of a date knows, breaking away from the typical dinner-and-a-movie narrative can be a bit overwhelming. In a city like New York, where urbanites can find almost any activity available in some corner of the city or boroughs, how do you choose the right activity and set the tone for an impressive date that shows off your offbeat interests? If you’re out of ideas, check out the list below for some novel date excursions for you and your special someone.
For sports lovers
For an unusual venue and unconventional sport, check out the Royal Palms Shuffleboard club in Gowanus. You don’t have to book a cruise to get your deck game kicks: this Brooklyn hotspot features 10 shuffleboard courts, DJs, board games, in-house food trucks, and–of course–bars. If you don’t know how to play, court time comes with a free lesson.
For movie lovers
For an old-timey movie date, buy tickets to Nitehawk Cinema in Williamsburg. Thanks to its own legislative lobbying, Nitehawk Cinema legally serves food and a wide selection of alcohol–including handcrafted cocktails and local beers–during performances. Short of a drive-in, this may be the most romantic dinner and a movie you can find in the city.
For magic lovers
For a delightful dining experience, book two tickets to A Taste of Magic at Gossip restaurant. Roving magicians entertain diners between courses with sleight of hand and magic tricks.
For meditative lovers
For a truly thoughtful and energizing experience amidst a tumultuous time, take your significant other to meditate at MNDFL Mindful Meditation. Mediation can reduce stress, induce calm, and improve your outlook. Together you and your partner can form a new healthy habit and resolve to live more consciously in the new year.
For dance lovers
For a truly one-of-a-kind experience, head on down to Jebon Sushi in the East Village. The St. Marks establishment is home to a weekly show hosted by Kaeshi of Bellyqueen, a professional belly dancing troupe. Along with drinks and food, take in the Arabic, Turkish, and Flamenco fusion jams, enjoy the performers, and show off your own dance skills on the open floor!
For history lovers
For a look at love out of time and an appreciation of how matchmaking and meeting people has changed, take a trip down to the Lower East side. The Tenement Museum offers a peek into early twentieth century courting rituals and the love stories of boarders at 97 Orchard Street in its Love at the Tenement tours on February 10.
For animal lovers
In a truly unique romantic gesture, the Bronx Zoo lets you name a Madagascar hissing cockroach after your special someone, whether an entomophile or an ex. You can also add on chocolate and a plush cockroach for bonus points. The experience of meeting their unlikely namesake on a trip to the zoo is something your significant other won’t forget anytime soon.
As reported by Bloomberg, what began as a softening of the luxury real estate market in New York has expanded to lower-tier properties. The top 20 percent of apartments are now experiencing price cuts.
Changes in real estate values tend to make investors and homeowners break out in a cold sweat, much like swings in the stock market. But, the current trend in New York isn’t anything to panic about. 2016 wasn’t anything like the crash of 2007-2008.
According to Bloomberg, the luxury market and the tier just under that market (again, the top 20 percent of properties) saw price drops in the 5 to ten percent range.
The definition of a stock market correction is a ten percent drop. The drop, unlike real estate, is often hard to predict, but it’s still considered business-as-usual and not a crash.
In order to keep perspective, it’s important to understand why the real estate market is softening. What’s causing the current dip in New York property prices?
First, 2015 was a “record year for residential building permits in New York City”, according to Slate.
In December 2016, the magazine ran an article that stated, “With developers pressed by expiring loopholes, the city authorized nearly 35,000 new units in the second quarter and nearly 10,000 more in the fourth. Total permits topped 50,000—more than any year since the early 1960s. And many of them aren’t done yet—according to the U.S. Census Bureau, about half of all multi-unit projects take more than 13 months from the permitting date to be completed.”
Translation: the permits issued in 2015 created projects that were being finished in 2016 and early 2017. With those units on the market (or soon to be there), basic supply and demand theory indicates that residential real estate prices will drop.
Yet, New York is still an expensive place to live. Even with the building boom, finding affordable living options is still a challenge.
According to Fortune, “more younger folks are finding themselves attracted to medium-sized cities, which may not have the same professional opportunities as their larger counterparts, but provide housing affordability. Cities like Raleigh, N.C., and Fort Collins, Colo., have seen building permit issuance soar over the past six years as they attract younger adults seeking cheap rents and lower asking prices. Expect the trend to continue in 2017.”
Younger professionals whose wages haven’t kept up with the cost of living are moving to smaller, more affordable cities. So, when they do get to a point that they can afford to buy, they’re not buying in New York. Ironically, that could drive down the housing prices. Fewer buyers and potential buyers means more competition for the buyers that are still in New York.
Finally, there are truly only so many people who can afford high end, luxury, housing, even in New York.
Curbed’s sales market report states, “In 2016, contracts to buy Manhattan houses priced at over $4 million were 21 percent fewer than in the same period in 2015. And the properties that sold sat on the market an average of 291 days, or 54 more days than in the same time last year.”
A $4 million home, with a 20 percent down payment ($1 million) has a monthly mortgage of $21,099. According to the Bureau of Labor and Statistics, in the first quarter of 2016 Manhattan’s average weekly wage was $2,783.
Not nearly enough to cover the mortgage on a luxury home. So, maybe it is time for a little bit of market correction?