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 Real Estate

6 Affordable Neighborhoods
Sunnyside up: Lots of greenery and space, just 15 minutes from midtown.

You thought they were mythological, but here they are: six charming, eminently affordable places (with shockingly easy commutes) that you can call home.

BY ROB TURNER

Waiting for prices to drop so you can buy that TriBeCa loft or West Side classic six you've always coveted? That sounds like a good idea -- about as good as investing in Pets.com in 1999, when the "pets space" was the next big thing. Waiting for prices to drop is the myth of the moment -- and while certain bubbles may have burst, New York's prime-real-estate market isn't behaving like a bubble at all. But the truth is that with 30-year mortgage rates at a two-and-a-half-year low, and likely to go lower, this could actually be a great buying opportunity -- if you broaden your horizons past Manhattan's blue-chip clichés. On the following pages, you'll read about six neighborhoods within easy commuting distance of midtown that Barbara Corcoran and Douglas Elliman aren't yet dueling over. Places that, because of their stability, quality of life, and affordability, are primed to hold their value, and even prosper, no matter what happens to the Dow. We nominate these neighborhoods as the blue chips of the future (and if the Manhattan bubble does burst, at least you'll be clear of the explosion).


 
 
the neighborhoods
Ditmas Park, Brooklyn
Cliffside Park, NJ
St. George, Staten Island
Sunnyside, Queens
Bloomfield, NJ
Hudson Heights, NY
 
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