If you have a family and are on a budget, you might want to seriously consider Spuyten Duyvil

By Leah Hochbaum Rosner | April 23, 2015 - 10:15AM

Looking for an affordable three-bedroom a short ride from Manhattan? Try Spuyten Duyvil. Manuel Pantiga, co-founder of the Morris Park-based Pantiga Group tells you why this oddly-named Bronx neighborhood’s star is rising in this week’s Buy Curious.

THE WISH LIST:

I’m in the market for a three-bedroom for under $800,000 tops, and my StreetEasy search keeps sending me to Spuyten Duyvil in the Bronx. Aside from the fact the name is intriguing, I really know nothing about it, in terms of the housing stock, the commute to Manhattan and what kind of conveniences they have. Is it another name for Riverdale? I'd love to know more about the area and what I can get for my budget.

THE REALITY:

Spuyten Duyvil—the Bronx neighborhood situated where the Hudson and Harlem Rivers meet—has become a great choice for value-conscious buyers for one very simple reason, says Pantiga: affordability. According to StreetEasy, the median price for a three-bedroom co-op in the area is $525,000. That’ll barely buy you a one-bedroom in many areas of Manhattan. But here, your $800,000 budget should be enough to snag you a home (maybe even a condo) with significantly more square footage than the average Big Apple abode. Because of that, it’s attracting young families in droves.

Pronounced SPY-tin DYE-vil, Spuyten Duyvil roughly translates from the Dutch as “Spitting Devil,” which is believed to be a reference to the strong tidal currents that occur where the two rivers come together. Though some consider it a neighborhood in its own right, others believe it to simply be the southernmost part of Riverdale.

In addition to its affordability, the neighborhood is growing in popularity due to its relatively quick commute into the city—it’s just 25 minutes to Grand Central by Metro-North. There are also a number of express buses and the 1 subway line nearby (though it could take 10 minutes to walk to it, even longer, from some parts). And while it’s definitely a plus, owning a car isn't absolutely necessary.

While Spuyten Duyvil is mostly residential, there's a small concentration of stores in the heart of the neighborhood on Knolls Crescent. Shops on the street include nail salons, a small supermarket, a Rite Aid and a Chase branch. For larger grocery shopping excursions, as well as to get your coffee fix at Starbucks, you’re going to have to head further north into Riverdale proper.

The area, which covers less than a square mile, features an eclectic mix of real estate, with the vast majority of inventory being co-ops, says Pantiga. Three-bedroom co-ops typically range from the high $300,000s to around $800,000 (although most prices concentrate in the $400,000-$500,000 range), which is why your StreetEasy searches keep leading you here. Maintenance fees vary, but they tend to range between $1,200 and $1,600 a month.

(The few condos on the market tend to hover around the $1 million mark for a three-bedroom.)

Although some homes date back to the late 1800s, most buildings in the neighborhood were built in the 1950s and 1960s, and many feature doormen, pools, storage, laundry and indoor parking. Some have even been modernized in recent years and boast newer lobbies and common areas.

Spuyten Duyvil is also the site of a number of several green spaces (including Ewen Park, home to a popular dog run). With its family-friendly budget and its proximity to Manhattan, says Pantiga, the neighborhood is a safe bet for a growing family.

Want to make the move to Spuyten Duyvil?

A three-bedroom, three-bath co-op, $785,000: Located at 750 Kappock Street near Palisade Avenue, this loft-like 2,400-square-foot apartment features two terraces, large closets and Hudson River views, and can easily be converted into a four-bedroom. The co-op building boasts a 24-hour doorman, a gym, a bike room and a live-in super. There are even two deeded parking spots included in the sale.

A three-bedroom, two-bath co-op, $769,000: This combined apartment at 2621 Palisade Avenue has a large terrace, a customized kitchen with a breakfast bar and two walk-in closets. Amenities include a full-time doorman, a seasonal heated pool and reserved parking.

A three-bedroom, two-bath co-op, $479,000: This high-floor apartment at 555 Kappock Street near Johnson Avenue has panoramic views of the Bronx and Manhattan, and a renovated kitchen with two-tone slab cabinets. The full-service co-op boasts a 24-hour doorman, a playground and a seasonal pool.

A three-bedroom, two-bath co-op, $539,000: Located at 3050 Fairfield Avenue between West 230th and West 231st Streets, this corner apartment has a windowed eat-in kitchen and hardwood floors throughout. The building features a doorman and garage parking.

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