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Spuyten-Duyvil Real Estate Prices Creeping Up to Brooklyn Levels

By Eddie Small | August 1, 2016 7:23am
 The average listing price in Spuyten Duyvil for July was $292 per square foot, according to data from NeighborhoodX.
The average listing price in Spuyten Duyvil for July was $292 per square foot, according to data from NeighborhoodX.
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SPUYTEN DUYVIL — Real estate prices in Spuyten Duyvil are still more affordable than places in Brooklyn and Manhattan, but they might not stay that way for long.

The average property listing in the northern Bronx neighborhood went for $292 per square foot, while prices overall spanned from $172 per square foot for a co-op at 2750 Johnson Ave. to $744 per square foot for a condo at 2287 Johnson Ave., according to data from the real estate analytics site NeighborhoodX.

The Johnson Avenue co-op, a studio with a full bathroom, is selling for $95,000 overall, while the Johnson Avenue condo, which has three bedrooms and two bathrooms, is selling for about $1.35 million, according to the real estate website Trulia.

Multiple co-ops in Spuyten Duyvil are available for less than $200 per square foot, a price that NeighborhoodX co-founder Constantine Valhouli said was much cheaper than virtually anything in Brooklyn and Manhattan.

"We haven’t seen those numbers in more than a decade," he said.

However, Spuyten Duyvil might not stay cheaper than Brooklyn and Manhattan for much longer, as Valhouli said the more expensive properties in the neighborhood were already starting to become costlier than average prices in Upper Manhattan and are approaching the levels of some neighborhoods in Brooklyn.

"The fact is, those properties at the very top end are just below the prices of properties in Cobble Hill and Carroll Gardens," he said. "You’re talking within [a] $100 to $120 [per] square foot difference."

Other listings in Spuyten Duyvil included multiple houses on Netherland Avenue for between $512 and $684 per square foot, multiple co-ops on Palisade Avenue for between $194 and $480 per square foot, and a co-op on Independence Avenue for $199 per square foot.

The Bronx neighborhood is located just north of Inwood in Manhattan and borders the Hudson River to the west and the to the south, Spuyten Duyvil Creek, known for the occasional seal sighting.

A wild turkey has also been spotted in the neighborhood.

The area is home to well-known New York spots like Henry Hudson Park and the Edgehill Church.

READ MORE: The Bronx is Hottest Borough Right Now for Residential Development