The Best Neighborhoods in New York To Invest In
New York, the city that never sleeps, has one of the highest real estate prices per square
footage in the world. An average home in one of the city’s most popular areas, Manhattan,
can set you back around $1,376 per square foot, whilst an average square foot in the rest of
the city averages out to around $673.
Despite these excruciatingly high prices, the NYC real estate sector continues to thrive.
New developments and renovated properties are continually popping up across the city,
attracting the attention of both local and international buyers. Even areas that were once
considered less desirable, like Brooklyn, have witnessed their property prices double over
the past decade.
The Best Neighborhoods in New York To Invest In
If you are looking to make some money in the big apple, here are the best
neighborhoods you can invest in:
Upper East Side
Purchasing a property in the Upper East Side comes with a level of stability and security
like no other. This is perhaps the most popular area of New York and prices have only
increased year over year. Although it may be expensive to get a piece of the pie, the value of
your investment will only rise over the years.
Tribeca
Tribeca is one of the most loved neighborhoods in Manhattan. There is a high demand for
real estate in this sector due to its lovely cobblestone streets, picturesque buildings, and its overall friendly neighborhood vibe. It has some of the best restaurants and amenities that
New York has to offer, so you won’t have trouble finding a buyer if you ever want to sell a
property in Tribeca.
Bushwick
Bushwick is a super promising area for investors looking to purchase a property in the big
apple. Each year there are new government-funded projects that uplift the general appeal of
the neighborhood. Although Brooklyn was once considered an unfavorable area in New
York, it is now one of the most in-demand areas amongst the younger demographic.
Financial District
The Financial District has witnessed a boom in popularity over recent years. This is only
expected to increase due to the coronavirus pandemic. Now that the health crisis has shifted
our behaviors, more people will be inclined to walk to work, which is easy if you live in the
Financial District. If you are planning to rent out your home, you will always find a suitable
tenant to occupy the property.
To find an up-and-coming neighborhood that is worth investing in is relatively easy in New
York City. Despite the high real estate prices, people continue to flock to the East coast in
search of job opportunities and new lifestyles. The population of this proportionately small
city continues to increase and the cultural capital of the U.S shows no signs of slowing down.
This means there is a possibility to turn a profit if you invest your money wisely in the real
estate sector. Make sure to do your research thoroughly before settling on a property and
bargain your way towards a great deal.