9 best NYC neighborhoods for finding real estate bargains

New York /
Feb.February 11, 2014 11:55 AM

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


Related Articles

arrow_forward_ios
From left: Ace Hotel’s Brad Wilson and Omnia Group's David Paz along with 225 Bowery (Getty, Google Maps, Ace hotel, Omnia Group)
Bowery micro-hotel facing foreclosure files for bankruptcy
Bowery micro-hotel facing foreclosure files for bankruptcy
(Illustration by Kevin Cifuentes for The Real Deal with Getty Images, James Gagliardi of Modern Media)
PHOTOS: Brown Harris Stevens turns 150
PHOTOS: Brown Harris Stevens turns 150
rikers island, 1422 Greene Avenue
Menachem Stark’s brother does jail time for neglecting units
Menachem Stark’s brother does jail time for neglecting units
Rendering of 640 Columbia Street in Red Hook, 9-11 Metrotech Center and TerraCRG's Ofer Cohen
Brooklyn boasted $9B in investment sales last year
Brooklyn boasted $9B in investment sales last year
188 Nelson Street and 483 13th Street
Zero deals signed for $4M homes in Brooklyn last week
Zero deals signed for $4M homes in Brooklyn last week
15 West 45th Street, CapitaLand’s Eaton Zhou
Midtown hotel trades for $38M in another slow week for midsize i-sales
Midtown hotel trades for $38M in another slow week for midsize i-sales
160 Imlay Street and Living New York's Devin Someck with Fredrik Eklund and John Gomes
Living New York bumps Eklund-Gomes off Red Hook project
Living New York bumps Eklund-Gomes off Red Hook project
944 Fifth Avenue and Central Park Tower at 217 West 57th Street
Central Park Tower condo tops Manhattan luxury contracts
Central Park Tower condo tops Manhattan luxury contracts
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...