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).