Neighborhoods in New York City seem to come and go out of fashion quickly. A hip place to live yesterday is now forgotten as a new area of NYC becomes the new housing trend. Brooklyn, Queens, and other boroughs of the city have been bouncing between being the new hot neighborhoods to cold ones over the decades for many reasons.
For real estate developers, the quest for finding the hot neighborhoods that are just rising in demand has led to many developments which have struck gold or fallen flat. However, for those who are looking at finding the right housing in NYC, the key considerations should be the rent and location to transportation. In fact, those who have followed the expanding subway lines east of Manhattan have done well in the real estate market.
For Hot Neighborhoods in NYC
East Harlem: For those who prefer to stay closer, East Harlem which runs from 96th Street up to 140th that is east of Fifth Avenue is probably the place to go. The prices for homes are quite reasonable and its one of the few places in the city to find a good deal. There is some new luxury development, but it is the history and colorful neighborhood filled with cafés, restaurants, and excellent shopping that makes it a gem.
Flatbush, Brooklyn: This old neighborhood is seeing new life thanks to an influx of new residents taking advantage of the reasonable rental properties and new developments. Bounded by the Long Island Rail Road tracks to the south up to Parkside Avenue in the north, Flatbush is a well-established neighborhood that offers great shopping and plenty of other amenities.
Rockaways, Queens: Most people associate the Rockaways with surfing and hitting the beach, but thanks to the subway it’s less than an hour from Lower Manhattan which is bringing new life to this area. The beaches and more relaxed atmosphere has brought many young professionals and their families to this location. It helps that the new development is reasonably priced, especially the condos which are now rising in this neighborhood.
Sunset Park West, Brooklyn: The Sunset Park area in Brooklyn that runs along New York Harbor from Bay Ridge in the south up to Greenwood Heights is becoming a hotbed for new renting opportunities. The attractive prices combined with the pre-war buildings that have been refurbished have created a hip neighborhood full of coffee shops and café culture. The current redevelopment of the area along with reasonable rents is only bringing more people to this picturesque part of the city
It is true that these four neighborhoods will not stay in demand for long. The reasonable rates, excellent location, convenient transportation, and wealth of shopping, eating places, and entertainment will mean that many will flock to these areas in NYC. However, for every neighborhood in Brooklyn, Queens, Manhattan, and so forth that falls out of favor, there will be new ones that become hot because of lowering rent prices and an abundance of things to do.