RED HOOK

THE BASICS: Red Hook is definitely a neighborhood in flux: The longtime home of Brooklyn longshoremen and other blue-collars now sees its share of BMWs parked in front of refurbished townhouses. Warehouse spaces, modest one- and two-bedroom apartments, and townhouses are plentiful and affordable.

WHAT’S NEW: The planned giant waterfront Fairway shopping-and-condominiums complex on Van Brunt Street, approved last year, is under construction. Prime for future conversions: the blocks south of Commerce Street and east of Van Brunt, as well as Coffey Street between Conover and Ferris, which has cobblestone streets and dock views. Business owners hope to turn Columbia Street into Red Hook’s Smith Street; Japanese, Mexican, and Italian restaurants have opened recently. Everything seems to be coming, in fact, except transit: There’s no subway into Red Hook.

BARGAIN HUNTING: Good buys can be found throughout the neighborhood, really, but the blocks surrounding the entrance of the Brooklyn Battery Tunnel are particularly inexpensive.

HOT SPOTS: Alma, a Mexican restaurant with great views of lower Manhattan, has been drawing crowds since opening last April. Lillie’s and Sunny’s are friendly, rambling bars a few blocks from one another on Beard Street. Red Hook Blue features—yep—live blues.

PREDICTION: Gentrification is coming—witness the steadily climbing prices of the past several years—but the transition is still in its early stage, and mostly confined to the blocks near the water. A good choice for the very long haul if you don’t mind a substantial march to the train.