The New York Times has chosen their picks for the up and coming NYC neighborhoods in 2016. Based on expert advice from relators, and market trends, the Times have surmised where the hottest neighborhoods in 2016 will be. While last year Brooklyn dominated, this year might surprise people. Below are a few of the Time’s picks, and some of their rational behind them.
The Rockaways, Queens
The Rockaways are a peninsula of Long Island, located within the borough of Queens. The area has traditionally been a summer retreat, a sanctuary for surfers and beach bums. But according to the Times, young professionals are starting to take notice of the area.
Recent gentrification has caused developers to move in, bringing new, upscale apartments and residential buildings to the area. A new boardwalk built in the after math of Hurricane Katrina is also expected to draw in more shops and waterfront entertainment.
For those not interested in splashing the money for waterfront property, there are an abundant number of inland apartments, which can be had for less.
Lower Manhattan is less than an hour subway ride away, making commute times reasonable. The allure of living near the water, while still living in New York City, and having affordable housing, is something that many people are finding too good to pass up.
East Harlem, Manhattan
Located North of Manhattan’s upper East side, this historically Spanish neighborhood is seeing some resurgence. People looking to stay in Manhattan but avoid high prices have been turning to East Harlem.
Developers are moving into the area and putting up new buildings, or renovating old ones, but prices are staying low. StreetEasy lists the median home price at 499,000, significantly lower than other areas on Manhattan. The influx of money has pushed the area into developing beyond just housing. New bars and restaurants are opening, but not at a rate that kills off small existing business.
Proximity to the subway is sure to be a draw for residents moving into the area. The distance to Manhattan will also be a draw, not living downtown while being close enough to make it easily will turn more than a few heads.
The price is right for this up and coming neighborhood. However, if you’re more interested int the luxurious Southern neighborhoods contact Noble Black, the go to Manhattan luxury real estate agent.
Sunset Park West, Brooklyn
Sunset Park West is a part of Brooklyn’s Sunset Park neighborhood. While not traditionally a neighborhood on its own, we’ll let the times slide here. Sunset Park is traditionally known for its ethnic diversity. The neighborhood has a median home price of just under 500,000 million dollars, making it affordable by New York City standards.
The Times has real estate agents on file saying that the area is benefitting from being close to the subway, an increase in office related buildings going up, and water front development.
Water front development will surely be the deciding factor here. With office buildings developing along the waterfront, residential housing is sure to follow. Like the other places on our list, the price is right. Low prices combined with increased development usually equals neighborhood boom.