Billionaire’s Row
Of all the newest NYC neighborhoods, this one is the least relevant for the average New Yorker. Its somewhat dubious moniker has been earned by a collection of mostly supertall, entirely superexpensive luxury buildings that are clustered around Central Park South and 57th Street. (One57, which looms over Central Park in the above image from a $58.5M Douglas Elliman listing in the building, is a perfect example.) And for good reason: Most of these buildings soar up to 1,000 feet or higher, all the better to create jaw-dropping views from your perch up in the sky, and they contain some of the priciest private residences not just in New York City but in the world. But many of these homes are languishing on the market, cutting prices dramatically, or just plain going unsold — no one can afford them!
(Emmanuel Dunand/AFP/Getty Images)
Brooklyn Navy Yard
Build a Wegman’s, and they will come. Of course this historic riverfront area between Kent and Flushing Avenues, south of Williamsburg and north of Clinton Hill and Fort Greene, was bubbling under for a long time before that singular amenity came along, with pioneers like King’s County Distillery (pictured) and Brooklyn Grange contributing to the cool factor. It has now become quite the tech hub, with more than 750 entrepreneurs working out of the New Lab tech-community office space. A ferry to Manhattan and shuttle buses to nearby subway stations are making the somewhat isolated area more manageable for commuting.
(Alessandro Vecchi/Getty Images)
Downtown Brooklyn
Downtown Brooklyn has always been a thing, of course — a major transit hub, a shopping destination, and home to multiple college campuses. But only recently has it become a happening residential neighborhood, with numerous new-development shiny glass towers offering luxury living in this bustling business district. Since 2012, median sales prices in the area skyrocketed by $300K, from about $525,000 to $825,000, and there are currently 87 StreetEasy apartment listings in Downtown Brooklyn priced at more than $1 million. This “new” NYC neighborhood is not just Borough Hall and Fulton Mall anymore.
Brooklyn Homes Under $1M Article continues below
(Epics/Getty Images)
Gowanus
Remember when this area was considered a toxic wasteland? When did Gowanus go from uninhabitable to hot — was it around the time Whole Foods moved in? In all seriousness, despite the still-somewhat-notorious Gowanus Canal, median sales prices here have shot from $523,000 in 2012 to $885,000 now, and it’s hard to deny the desirability of the neighborhood’s location, sandwiched as it is between three of Brooklyn’s finest: Carroll Gardens, Boerum Hill, and Park Slope. We still wouldn’t swim there, to be sure, but would we live there? Yes.
(Don Emmert/AFP/Getty Images)
Hudson Square
Formerly known as “the no man’s land of Holland Tunnel traffic,” Hudson Square has exploded in recent years to become a veritable media and tech corridor, with tech companies like Google and Disney establishing huge new offices there. The neighborhood spans Sixth Avenue to the West Side Highway, Canal Street to West Houston, and is surrounded on all sides by the much more well-known and chichi areas of Tribeca, SoHo, and the West Village. It was only a matter of time until this hot new NYC neighborhood rose up to claim its own fame!
(Johannes Eisele/Getty Images)
Hudson Yards
Similarly, this area used to be a notorious no man’s land of traffic for another Hudson River crossing, the Lincoln Tunnel. But now it’s a chic tourist destination for shopping, dining, and Vessel climbing, thanks to the development of its namesake Hudson Yards complex. The neighborhood runs from Eighth Avenue to the West Side Highway, West 30th to West 41st Streets, and it’s bursting with brand-new luxury condos with river views.
Manhattan Homes Under $1M Article continues below
(Getty Images)
NoMad
This area at the north end of Madison Square Park (hence the name) spans from 25th to 31st Streets, between Sixth Avenue and Lexington, and has undergone a huge growth spurt over the past decade. What was once an unremarkable, unloved area near a sketchy park is now a tourist mecca, home to luxury condos, hip hotels, and the highest concentration of Michelin-starred restaurants in the city. (The park itself is now a gem as well, and home to the original Shake Shack location.) Close enough to Grand Central and midtown to be easily commutable, but still close enough to Flatiron and downtown to be hip, NoMad’s growth shows no signs of stopping.
(Getty Images)
West Chelsea
Finally, just south of Hudson Yards and, yes, west of Chelsea proper lies West Chelsea, the region from Ninth Avenue to the river between 14th and 30th Streets. What has turned this formerly seedy area full of industrial warehouses and illegal activities into one of Manhattan’s hottest downtown neighborhoods? The answer is no secret: The High Line. This elevated park along the West Side’s disused train tracks has singlehandedly changed the face of far-west Chelsea, bringing tourists, art, celebrities, starchitects, and a glut of new residential construction along with it. What a transformation.
—
Inspired to find your next place in New York? Whether you’re looking to rent or to buy, search NYC apartments on StreetEasy.
