City Island. Is there any movement in the City Island market ?

Asked by Toby Moors, Darien, CT Sun Apr 21, 2013

With all the pressure on prices in Bushwick, Astoria, The Heights, and other areas that have a longer commute, is there any interest in City Island which seems great value - views, big parks, great elementary school, water, walkable town, and so on. Prices are a third of Brooklyn, and yet it seems City Island seems so ready to be one of the next areas to gentrify. But it is still not there !

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Charles K, , Bronx, NY
Mon Apr 22, 2013
Toby,

I have spent every summer since I was a kid on City Island. One thing I will say is that City Island is more of a culture than its own market. I do not see any gentrification happening, at least any time soon. The people of City Island stick to their history, and that is what makes it what it is. Recent events have had islanders battling against plans for the development of a modern bridge to the island. They feel it does not fit the culture of the Island, and I must agree, after seeing one of the designs proposed, it does not fit. Residents support their small businesses, fight for their fire house to remain on the island, and take pride in the boating community that surrounds the Island. As I have said earlier, it is such a tight-knit community, that I would never treat it as the average housing market, because your assumptions will be wrong just looking at the numbers.
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Thanks, Charles and sorry for slow reply. Yes, it is a different market - very much word of mouth, and a strong local / neighborhood / village mentality. A good place to live. But we also saw this in other areas of NYC - I think many good deals were made by the early buyers in Red Hook, Bushwyck, Astoria districts which could also have been regarded as small tight communities. We are running out of areas that have good upside potential - perhaps City Island, Silver Beach, Throgs Neck and other select areas in South Bronx will be the next to move - where else can you find apartments now under $500,000 close to water, village, transport, schools in safe neighbourhoods. Will be interesting to watch in next 2-3 years.
Flag Wed Jul 3, 2013
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