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City Bargain? 3BR for Under a Mil ... On Another Island

A three-bedroom, three-bath New York City condo in a waterfront complex that sits on the market for a mere week, then gets snapped up for under a million? No joke! What's the big, fat tradeoff? The commute to Midtown is usually well over an hour, unless you get one of two express buses in and out and then it's, well, still an hour. But it's nice to know that for $950,000, you can get a private boat mooring on Long Island Sound and still get to pay city taxes. Woo-hoo! The development (above) is called The Boatyard, just in case you forget this spit o' land called City Island, near Pelham Bay Park in the Bronx, used to be brimming with briny ship builders.

For more on this does-it-even-count-as-New-York locale, hit up Forgotten-NY's spread.
· Residential Sales: 8 Deepwater Way [NYTimes]
· Recent Sales on City Island [Port of Kall Realty]