Next Good Neighborhood???

Hell's Kitchen has allready been discovered but you can still get a nice deal. Queens and Brooklyn have tons of neighborhoods that are just waiting to be discovered.

I agree that all of Manhattan has been discovered and that you need to look to Queens and Brooklyn for anythig near "undiscovered." The northern tip (Washington Heights, near the Cloisters) may still offer decent deals for what you get. We just moved to West 100th, and while it is not some secret neighborhood, it does offer a discount over prime UWS.

i may be moving to brooklyn in the near future and need some advice on neighborhoods. I was told that Kensington, Ditmas Park and Clinton Hill are all "up and coming" neighborhoods that are good invenstments to buy in now. Thoughts?

I still think that there a some bargains in midtown east. Sutton place tends to skew the average sales price. If you are willing to go over to 1st & 2nd avenue there are cheaper places. The turtle bay un is still good.

Original poster here....what do you guys think about the financial district? There seem to be some deals down there too, but will it ever really become a nice neighborhood?

Also, does anyone have a good idea of how long it will take the 2nd avenue subway to be completed?

I was told midtown east will be turned into a luxury retail space like UES/UWS. Schools are good, location is convenient and its not as uptight as some other areas. Lived there first when I started my first job and have bought a new construction 2BR there.
2nd ave subway is still 5-10years away

1st leg of 2nd avenue subway due 2013 last thing i read

As a professional agent in Brooklyn I will give you the scoop on great neighborhoods. The abckground on me, I was born and raised in NYC, Manhattan's Upper East Side, Lenox Hill to be exact an dmoved to Brooklyn 8 years ago. My first home in Brooklyn I sold for a 500K profit..so here we go.

Close to Manhattan (<45 min to 42nd) Solid Buys: Clinton Hill, Bed-Stuy, Ft. Greene, Prospect Heights and Crown Heights - yes Crown Heights, take a good look at this next 'hood. Sunset Park, Greenwood Heigts, South Slope, Windsor Terrace, Kensington

Farther but more bang for your buck (~45-60 min commmute) Bensonhurst, great homes, new condos with lots of amenities, great food, great atmosphere. gravesend (11223) West 4-West 10th straddle the F and N lines.

Awesome Hoods that are unknown and known to Manhattanites (Mansions galore, NYC's wealthiest) - exclusive, 30-45-60 min to manhattan (train) but 30 or so in a BMW or Ferrari: Mill Basin, Prime Gravesend, Dyker Heights, Bay Ridge, Park Slope, Carroll Gardens, Victorian Flatbush, Rugby.

When buying in Brooklyn, you want a broker that has experience, intimate knowledge in the area. In Manhattan you wnat Corcoran/Elliman - in Brooklyn you want Fillmore - 20 offices, 600+ agents, deal with their seasoned agents, managers and you'll be fine. 98%+ of their agents are born/bred or live in Brooklyn. they ahve intimate knowledge of zoning changes, trains, shopping, etc... and they are rolling out a new site. If you are a snob they may not be for you - because they are real, it is a boutique style company, with several offices ALL Over Brooklyn, as opposed to bee hives downtown that try to cater to the Manhattan buyers that ar eused to Manhattan prices - therefore you pay more than Market Value, or sellers home sit on the market for 6 months and then Fillmore sells them. Seriously check them out: they ahve a new website coming out soon too with expanded features: http://www.fillmore.com -atm they have over 700 exclusive listings in Brooklyn...and over 125 open houses any given weekend, in the spring, well over 200.

I highly recommend East Harlem. I am a broker and work with many developers as well as being the exclusive broker on a new development in East Harlem. Developers are investing a great deal of money in the neighborhood and all are of the opinion that EH will be the next LES and/or East Village. My husband and I are in contract for a 2BR/2BTH condo in EH, so I practice what I preach. 2BR's are starting at just $575,000 at The Ivy Condominium which is the first luxury doorman condo in the area with a gym, roof deck, garden, bicycle storage and more. It's at 249 East 118th Street. You should check it out. That is where I bought and plan to live. Again, not just talking the talk...I'm walking the walk. I believe 150% in this neighborhood and in this building. Many who have purchased in the building are from the East Village. They rented in the EV when nobody wanted to live there and now that they are in the position to purchase, they find themselves priced out of the EV. You can e-mail me at jarmstead@warburgrealty.com if you have any questions about the neighborhood and/or The Ivy. East River Plaza Mall is also coming to East Harlem and has signed leases with Home Depot, best Buy and Target. You can check out their website at www.eastriverplaza.com for further information.

brokers get lost!

Midtown East. The school between 56 and 57 will be torn down and replaced with 2 new schools as well as a 50+ condo with 170,000 sq ft of retail space. Huge win for the neighborhood. See http://www.wirednewyork.com/forum/showthread.php?t=10981

What's this BROKERS GET LOST nonsense? Who knows the market like a real estate professional. These people identified themselves & said what they had to say. I"ve been fascinated with Long Island City lately. It's close, has some incredible views, great potential but so far, is that all it's got?

The Financial District is hot. Though flooded with new construction, the prices per square foot are solid and the upside in this area is strong. Convenient to multiple subway lines, Fulton Street Transit Center in process, Frank Gehry building on it's way not to mention the Freedom Tower, Path Center, etc. Basic amentities are still in process but it's getting better each year and quickly turning the area into a 24/7 neighborhood. I'm currently in a rental at $2450 for 1.5 years; market value on my apartment is $3400, so rental upside is strong. After moving into this area 3 months post-911, I've seen significant improvements and am looking to buy here myself. Check it out. I call it FiDi. :)

I still think a good Manhattan deal can be found in Murray Hill between 35th and 39th Street and between Fifth and Lexington. Very central, excellent train/bus/taxi lines, close to Grand Central, and not hip due to the fact that it's really a residential area with few hotels, bars/clubs, and restaurants. But it's super quick to get anywhere in the city from this central location. I can't say it's on 'the cusp' of being discovered, but dollar for dollar, I think it's a great value of you can afford to live in Manhattan. I lived in a coop at 20 East 35th Street for four years, loved the building, and loved the neighborhood.

ditto with above poster -- however, extend it to 40th street!

Philadelphia

financial district no doubt

I would take murray hill over financial district anytime.

anyone have any opinions on DUMBO in Brooklyn

you need to go to park slope. still under priced.

buildings in financial district are crammed really close to each other, mostly separated by those 1-way single-lane roads... i'd say Murray Hill has the best balance between price and vibe anywhere south of 59th St...

Good public school district too-Murray Hill.

#22, Park Slope is no longer underpriced in my view. Take a look at all the $1M+ 2 bedrooms in PS. Price per square foot is ofter around $1000 which is not far from parts on Manhattan.

hell's kitchen!

Morningside Heights!

Yeah, Park Slope is really underpriced. It's cheap, but there's still a lot of crime...

Clinton Hill (the nice parts) are almost as expensive as Park Slope. Kensington and Ditmas Park are very residential areas for families, will not get super hot any time soon. Good housing stock. Not great transportation. Long walks to the F train. Kensington is good for 50s era coops with spacious floorplans. But the Victorian mansions on Ditmas Park are already going through the roof, in terms of price. You're too late to 'discover' that.

i was in FiDi for 5 years, got out too years ago...it was fun at first but is overrun with tourists and doesnt have as many interesting people living there

ummmmm, answering a thread from 11 months ago is pretty lame.

I really think that the Financial District has the greatest potential as the next hot area. Better prices, and more room to negotiate right now. It's really becoming a charming little neighborhood. Its narrow little streets actually remind me of London and Paris. Plenty of grocery stores, dry cleaners and drug stores now.

The new developments on and off John St. (District, 90 William, 99 John, 80 John, etc.) all have great finishings and some wiggle room to negotiate on price or closing costs (been my observation at least). Also right near the Fulton Street transportation center -- whether they build and edifice there or not, it is still going to be a transportation center. Once the WTC area is complete (the next 3-5 years), the area will blend into Tribeca more, the same way Chelsea blended into the West Village, making the property even more desirable and increasing its value.

Right now, rents are on the low side down there, which tends to give it a younger vibe. Also many have cited current and planned school expansion.

So that's my pick, even if it's 11 months late! :-)

If you had your choice between the low West 100's and FiDi which would you pick? For a young family?

For better or worse, FiDi is loaded with baby carriages! Seems like a quiet, clean neighborhood convenient to transportation. Also close to the water, park area, etc. Battery Park City is nice too, but I find it a little isolated.. might be great for a young family, though!

For young family, I guess you have to ask yourself about which 'hood offers access to the schools you want, children's activities, kid friendly restaurants, general ease of getting around, pediatricians (in an emergency where on earth do you take a small kid if you live on Wall St? NY Downtown? Good luck bringing that child home), other children for them to play with, access to parks.

I'd suggest checking out the neighborhoods carefully. I was really surprised how much I liked the Financial District and how much it had to offer. Not sure about Kid friendly restaurants, but frankly most Manhattan neighborhoods aren't teaming with Farrells Ice Cream shops and Chuck E Cheeses (thankfully to some of us).

My concern is more about schools, both private and public. I am very familiar with the UWS and UES, but not downtown. I love the architecture of the buildings downtown. In terms of restaurants, not really looking for the kiddy restaurants. We usually find that if we go early, restaurants are happy to accomodate kids... and that way we all are able to enjoy ourselves.

Aren't the restaurants at the pier/seaport kid friendly? I think there's a Friday's there and some other places. Also Bowling Green and some other little parks nearby.

Don't have kids so don't have first hand knowledge, but my understanding is that there are close by schools and more coming..keep in mind that you'll just be a 5-7-10 minute walk from Tribeca and Battery Park City.

http://www.manhattanapts.com/financialdistrict.php

http://www.insideschools.org/fs/school_search_emh_results.php

FYI, most people are not talking about TGIFridays and Check E Cheese when they are looking for kid friendly restaurants...

I would look at the UES, east of 2nd if you want the most for young families and a big upside in 5 years

I know people on this website are looking for gentrified neighborhoods, right? Well, Hamilton Heights is becoming more and more gentrified. Just go for a walk on Saturday afternoon around W145 to W165 between Bradhurst and Amsterdam, and you will be surprised at who's out and about there.

EAO, we live in low west 100's with a toddler and love it. Can't beat two parks. Good luck.

Mav...totally agreed on the Upper East Side, east of 2nd.

The neighborhood at St. Nicholas and W155 wasn't off for Duke Ellington (who has a plaque on the building across the street from mine). Mickey Mantel lived around the corner. There is a beautiful park (Edgecomb) which has a brand new playground. This is where the wealthy wanted to be back in the 30s, 40s and 50s.

St. Nicholas Avenue has a great history. Jumel Mansion by W162 is the home where George Washington spent lots of time. Everything is withing walking distance. Bit by bit it is being landedmarked.

enough!!!!

I'm a big fan of the mid-20s to low 30s between Park and 5th. A lot of quality new construction including prewar conversions with more ammenities coming each day. It is still a bit of a construction zone but that's why is a good buy today. I guess they are starting to call the area Madison Park North.

For kids (and value) look btw 95th and 116th, Riverside Drive to Amsterdam. Parks are great and schools are good too. Highly recommend.

I live in hell's kitchen and love it, but it's not very affordable price-wise I think. (Unless you want to pay $700K for a liveable one-bedroom with maint of $1K/month). A lot of ugly new development going on near the river, full of boring high-rises or apartments with small spaces. So I'm buying a two bedroom in Park Slope as my first place. Kind of sad to leave my current neighborhood, but being able to walk around without bumping into tourists will be nice. But if you have the budget, Hell's Kitchen is perfect manhattan location: tons of restaurants on Ninth Avenue, close to West Side Highway bike path, walkable to about every subway line and Central Park, and low-key people.

Hamilton heights is def gentrifying, and also home of a huge gay population, if that is an indication of anything...!

Just rent. If you buy now you will lose hundreds of thousands in the next several years.

Wow. Hundreds of thousands of dollars! I didn't know that. Thanks. That advice really changes everything for me. What was I thinking?!

dco, does that mean that if I bought a place in Hamilton Heights now, that in a few year it would only be worth $1. Unreal, I guess I should wait. I think I could buy a few at that price.

You can buy the Knicks for a buck...so a buck really goes a long way these days. :)

What do people think of Greenpoint? Seems to me taht there are some decent deals there on the North side of Mcarren park. G train isn't ideal though.

Ditmas Park does not have a long walk to the F-train. It's right on the Q and B train line with a short walk of only a few blocks to get to a station. Kensington is a dream of a neighborhood but their one problem IS the long walk to the F. BUT it does depends on where in Kensington you are, though. Near the Fort Hamilton subway stop on Ocean Parkway is a beautiful part of Kensington and the F-train is right there. There are also portions near Church Avenue and Beverly Road which are right by the F too.

Kensington is a nice, safe, well-populated neighborhood. It's more geared towards young families but it's just one or two stops on the F from all of the restaurants and nightlife of Park Slope so it's very versatile.

Ditmas Park is also very quiet and safe (for an up-and-coming neighborhood) and it has lots of great services. Once again, it's more kid-friendly - but with the Q and B at your doorstep, heading out to nightlife is as easy as pie if you're not feeling the new young/hip establishments on Cortelyou Road.

Prospect Lefferts Gardens (a.k.a Lefferts Gardens) and Prospect Park South are also some great up-and-coming neighborhoods in Brooklyn.

All of these neighborhoods have one thing in common by the way; like Park Slope they are all close to Prospect Park which is something parents with small kids, pet-lovers and twenty-somethings, thirtysomethings and everyone else enjoys. The only drawbacks of these neighborhoods (and the reason their real estate is at such a premium) is that - with the exception of Kensington - the schools may still have a way to go.

I have to second those suggesting the 150s around Broadway. Enormous apartments, cheap and changing fast.

if ou have kids fidi is great as it's zoned for ps 234 and they are buliding another school on beeckman

Looking at all these answers made me realize how Hudson Heights (right by the cloisters 181-190 on west side by the river) is still so undisovered. It is a beautiful neighborhood, you can great amazing apartments for much cheaper than the rest of Manhattan and it is becoming more upscale with more services (restaurants, spa, pilates studio, etc...). We moved there 5 yrs ago and love it. Great community. We lived on the UWS/morningside heights before and will not go back! A train is great - 20 min express to midtown. Right byt the park and the river, many apts have views. You have to check it out.

I love the 150's on the west side. Have posted many times that I think the area still has value and is in process of significant change. The pace of the change reminds me of the East Village about 10 years ago.

Next door to weasel-boy!!!!

West 106 to west 110, east of Broadway. 2-bdr still sometimes under $1M. The last pocket of proper UWS I can still buy in. Probably not for long.

Pocket bwn 110-125 and east of morningside park - Frederick Douglass Blvd.
Great transportation, access to Central park and Morningside park (Local mini Niagra fall is in Morningside park) Together with Cathedral of St. John The Divine creates a magnificent place). Plus tons of new low/mid rise construction with tax abatements.