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Has Riverdale Officially Made It as a Hot Real Estate Market?

By Amy Zimmer | January 12, 2017 9:06am | Updated on January 13, 2017 2:51pm
 A 2-bedroom/2-bath co-op at Riverdale's 3750 Hudson Manor Terrace  is currently listed by Douglas Elliman for $299,000.
A 2-bedroom/2-bath co-op at Riverdale's 3750 Hudson Manor Terrace is currently listed by Douglas Elliman for $299,000.
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Douglas Elliman

Riverdale’s real estate market is officially on the map.

For the first time ever, real estate firm Douglas Elliman compiled a quarterly sales market report for the Bronx region where it has two offices.

The Riverdale market — which includes Fieldston, Hudson Hill, North Riverdale and Spuyten Duyvil — had a median sales price of $280,500 for the fourth quarter of 2016, making it a relative bargain compared to Manhattan, Brooklyn and parts of Queens.

“It’s this sort of hidden market,” report author Jonathan Miller said.

But prices are rising as inventory falls.

The median was up 7.5 percent from the same time the year before.

The listing inventory fell 2.7 percent to just under 300.

“It’s long overdue,” Miller said of the focus on the area, “given its affordability and the rabid fan-base of residents, past and present. Everyone I talk to who lives there or lived there is extremely positive about it.”

Riverdale was one of the neighborhoods to watch in DNAinfo’s predictions for the 2017 residential real estate market in the city.

Elizabeth-Ann Stribling-Kivlan, president of Stribling and Associates, was keeping a close eye on the area because of how much more families can get for their money there.

Along with more space, you can get great Hudson River views and lots of amenities, like buildings with pools and other perks.

“People don’t realize how close it is,” she said, “and that if you live outside of Manhattan, you can have a car.”

One current listing from Elliman is a $299,000 two-bedroom/two-bath co-op with a dining area that can accommodate a table of 10 in a complex at 3750 Hudson Manor Terrace, which has a children’s playground and community garden.

The firm also has a three-bedroom/two-bath co-op at 5500 Fieldston Road for $392,000.