Investment opportunities abound in nine New York City neighborhoods where homes are priced much cheaper than others in the same boroughs.
The median sales price in Manhattan, for instance, is nearly a million bucks. But homes on the Lower East Side are 42 percent cheaper, according to data from PropertyShark.
At the low median price of $576,000 you can’t go wrong — except for the limited availability of luxury buildings and subway access, Brick Underground reported.
Apartments in the 92-acre apartment complex of Battery Park City are priced at a median of $771,000, about 19 percent cheaper. Sure, monthly charges for ground rent from the Battery Park City Authority tend to be higher, and the place is a “ghost town” at night. The neighborhood is a little livelier, though, with additions like Shake Shack and high-end retailers in nearby Brookfield Place.
Harlem, Kips Bay and Gramercy Park are all Manhattan neighborhoods where the best deals can be found. In Queens, where the median sales price is $400,000, homes in the Sunnyside neighborhood are priced 33 percent lower.
In Bushwick, Crown Heights and Sunset Park in Brooklyn, a borough where the median sales price is $515,000 and on the rise, homes can be found for a whole lot less: 30 percent less in Bushwick, 31 percent in Crown Heights and a substantial 43 percent cheaper in Sunset Park. [Brick Underground] – Angela Hunt