New York City property prices have only gone up in the last decade, and that trend doesn’t seem to be slowing. Getting the most bang for your buck requires some insider information from experts who know the five boroughs like the back of their hands. Thankfully, you don’t have to look any further than the three understated neighborhoods we’ll be featuring below.
Where Are the Hudson Yards?
More than likely, when thinking about value for money, Manhattan is at the bottom of your list. However, Midtown West has recently been experiencing a tremendous amount of new development that actually favors tenants right now.
According to Triplemint agent Josh Juneau, “Midtown West is one of the more advantageously priced neighborhoods because there is more residential property than normal, so they have to be more combative. Most neighborhoods don’t have that problem. New developments are lining the waterfront, so buildings with doormen are popping up.”
In terms of value, Midtown West’s brand new developments are backed by developers who are very knowledgeable about what people are looking for. They are space and design conscious. All of these new developments have high square footage, windows designed to not focus sunlight on your furniture, and no chemicals in any of the paints or materials used to build the structure.
As one of our recently published articles indicated, one should look to developing neighborhoods to take advantage of low prices before they skyrocket. In this case, you can take advantage of an overabundance of residential property to get great amenities for low prices.
Finally, Hudson Yards contains the wonderful High Line and is just above the popular Chelsea Market!
Upper East Steal
PC: Adrian Cabrero
With that being said, Midtown West is still developing its scene of hip bars and restaurants. If you’re looking for an already established neighborhood with great value, Triplemint agent Gina Castrorao suggests the Upper East Side (UES). “There is tons to do in the UES. It has restaurants, bars, and museums.”
The UES is an established neighborhood with a low cost per square foot. Adding to the appeal, the UES is bordered by the East River and Central Park, meaning any resident has easy access to water and nature, a rarity in New York City.
In addition, the UES has the (relatively) reliable 4, 5, and 6 trains and the brand new Second Avenue subway line. This new line features beautiful stations and modern subway cars, allowing for a comfortable and reasonable commute.
Where Brooklyn At?
For those of you that may not be interested in Manhattan living, there are undoubtedly options elsewhere. Triplemint agent Clarissa Deng has this tip to offer when thinking about affordable prospects. “No one wants to be stuck in an area that’s ‘uncool.’ But in this city, you’re never stuck anywhere, and coolness changes with the seasons. Every borough has its delights, and every NYC resident quickly learns that bang for your buck means staying away from crowds and trends.”
When thinking about staying away from the crowds, Clarissa suggests Clinton Hill. “It’s under the radar but lies at the intersection of Brooklyn’s most interesting neighborhoods. Plus, there are lots of charming brownstones!” The value in this neighborhood lies in its own quaint, quiet lifestyle, while being close to the more rambunctious parts of Brooklyn. It’s the best of both worlds.
Variety in Value
No matter what your interests are, these three neighborhoods cover a myriad of different interests and experiences for all kinds of people. Hopefully, one of them speaks to you.
If you’re looking for consumer-conscious real estate, Midtown West is your choice. If you’re looking for an established and accessible Manhattan neighborhood, UES is your choice. Finally, if you’re looking for a cocktail of all Brooklyn has to offer, Clinton Hill could be a good fit for you. Whatever neighborhood you choose, our agents are standing by ready to answer any questions you might have.