As one of the most expensive real estate markets in the world, New York City is getting far too pricey for many of its residents. Manhattan real estate prices have skyrocketed with the rise of foreign investments in the market, and most people simply can’t afford to pay their raised rent and grocery bills at the same time. Over recent decades the sky-high Manhattan prices have driven many people to move to the outer boroughs where there are better deals on larger living spaces. If your clients are looking to relocate out of Manhattan, here are some of the trendiest neighborhoods in the NYC area you should be familiar with:
While prices have risen in Brooklyn’s revitalized neighborhoods such as Williamsburg and Greenpoint, there are still hidden gems with reasonably-priced apartments available in this NYC borough. Gowanus was once a gritty industrial center that is now becoming a hot spot for residential conversions of industrial buildings. The neighborhood has attracted artists and musicians for the past few years because of its many loft-like spaces that accommodate workspace. With the opening of Brooklyn’s first Whole Foods store, Gowanus is quickly becoming a more residential and affordable place to live. It’s also conveniently located near the N, R, and F subway lines, as well as the beautiful Prospect Park.
Much of the Bronx has a bad reputation for being unsafe, but there are some family-friendly neighborhoods in the North Bronx area that provide relatively affordable housing with parks, good schools, and cultural attractions close by. Riverdale is a family-oriented community with an intimate neighborhood vibe. If you can afford it, there’s high-end housing available that overlooks the Hudson River, but the most affordable options are closer to Manhattan College and Van Cortland Park. The park is a peaceful space with walking trails, baseball fields, and a golf course, and the surrounding neighborhood provides plenty of low-key shopping venues and restaurants. Riverdale also caters to families and students with its relaxed and safe atmosphere and is reachable by the No. 1 subway and by Metro-North trains.
Located on the East River in Queens, Astoria is the perfect neighborhood to venture out to if you still can’t afford the nearby hot spots to live in. With proximity to the G subway, you’ll still be close enough to enjoy the Brooklyn hipster scene in the surrounding neighborhoods, while also having relatively easy access to and from Astoria with the N, W, R, and M subway stops. Astoria is a diverse neighborhood with great ethnic restaurants and bistros and offers large housing spaces without breaking the bank.
St. George is the most lively, creative, and convenient neighborhood located on Staten Island. While the rest of the island has a more subdued, suburban environment, St. George feels like a small town with many apartments, eateries, and activities, making it a choice place to live in NYC. The St. George Waterfront Redevelopment Project even boasts a retail outlet center and an observation wheel located on the NYC harbor. St. George is also home to the Staten Island Ferry Terminal, making it an ideal location for going to and from Manhattan. While the trip is roughly 30-minutes long, it’s very affordable, and you can’t beat the stunning views of the city skyline and the Statue of Liberty.