Bargain Hoods
Three brokers pick the areas with the best values for buying and renting.
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(Photo: Courtesy of Prudential Douglas Elliman) |
Vickey Barron, Prudential Douglas Elliman
1. Hudson Heights
Way north, but enough pluses—proximity to Inwood Hill Park, slow influx of restaurants, cafés, and services—to attract people priced out of Chelsea and the Village. And it’s much cheaper.
To Buy
75 Park Terrace East
Perry Payne and Heather Laws, Prudential Douglas Elliman A 700-square-foot one-bedroom co-op in Inwood's only full-service building.
$299,000.
2. Upper East Side, east of Second Ave.
Yes, it’s bland. And the perennial construction of the Second Avenue subway line is off-putting. But you’ll get more space for less money than anything due west.
To Rent
330 East 98th Street
Paul Bologna, Century 21 NYC
A one bedroom/alcove studio with a remodeled kitchen and bath in a renovated walk-up building.
$1,750 per month.
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(Photo: Courtesy of Bond New York) |
Holly Sose, City Connections Realty Inc.
3. Midtown, west of Ninth Ave.
Even though it feels removed, “you’re still close to transportation, and it’s got interesting restaurants and bars,” says Sose. “Some call it ‘Hell-sea.’ It’s got the vibe of old Chelsea but not the price.”
To Buy
432 West 47th Street
Larry Zarr, the Corcoran Group
A large 780 square feet floor-through co-op.
$575,000.
To Rent
432 West 46th Street
Adam Rueda, Bond New York
A 450-square-foot rental in an elevator building (no doorman).
$1,900 per month.
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(Photo: Courtesy of the Corcoran Group) |
Deborah Rieders, The Corcoran Group
4. Clinton Hill/Bed-Stuy
The neighborhood gets a bad rap for being hard to reach, but the apartments—co-ops and condos—are large and airy. “They were designed with artists in mind,” Rieders says.
To Buy
689 Myrtle Ave.
Deborah Rieders, the Corcoran Group
A 1,000-square-foot duplex loft in a former chocolate factory.
$499,000.
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(Photo: Courtesy of Alan Zeitler) |
5. East Williamsburg/Bushwick
Cross the BQE from the ’Burg and save 10 percent. “The housing stock”—older lofts and frame houses—“is more humble, so [landlords] can’t ask for as much,” Rieders says.
To Rent
1079 Broadway
Alan Zeitler, developer
A 500-square-foot rental with a private roof deck.
$1,390 per month.
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