The next frontier: Developers are zeroing in on these five outer borough neighborhoods

Investors are turning to new corners of the city to chase returns

TRD New York /
Jan.January 31, 2018 11:30 AM

It used to be that developers looking to make smart investment plays in New York City would throw up a building in Williamsburg, Long Island City or Bushwick and watch the buyers and renters flood in.

But those neighborhoods have now largely topped out, sending investors on the hunt for the next corner of the five boroughs that is ripe for opportunity.

Now, The Real Deal has zeroed in on outer borough areas that have seen upticks in activity in the last year or two. Check them out in the slideshow above, and be sure to read “Gentrification City” in The Real Deal’s January issue.


Related Articles

arrow_forward_ios
1065-1075 Gerard Avenue in the Bronx 

Prana pays Related $36M in Bronx multifamily play

448 East 143rd Street in the Bronx (Credit: Google Maps)

Private developer’s NYCHA project in Mott Haven lands $79M in financing

1159 and 1184 River Avenue with Maddd Equities' Jorge Madruga (left) and Joy Construction's Eli Weiss (right) (Credit: Google Maps)

Maddd Equities, Joy Construction score $64M for massive Bronx project

There will be 70 agents based at the new office (Credit: iStock)

Compass opens Long Island City office as new-development sales surge

Long Island City, Queens (Credit: iStock)

Queens sale prices set record despite signs of trouble

239 Banker Street and, from left: Workable City's Sara Willard, Rabina Properties' Josh Rabina and Workable City's Adam Heller

Workable City, Rabina Properties pick up Greenpoint loft complex for $33M

From left: 305 East 47th Street and 286 River Avenue (Credit: Google Maps)

Here’s what the $10M-$30M NYC investment sales market looked like last week

California passes landmark rent control law

arrow_forward_ios