(NY Daily News) –– The only safer investment than gold might be New York real estate. Through even the recession, local home prices in most Manhattan neighborhoods and some borough corners have seen steady increases. Smart buyers make money by investing in smart neighborhoods.
Recently, hedge funds, national real estate investment trusts, foreign investors and stock market players have swung their money over to New York City properties. According to experts, it’s a good move.
“Manhattan has almost no buildable land left, but our neighborhoods continue to evolve, thanks to new infrastructure, record safety and enduring global appeal,” says Kelly Kennedy Mack, president of Corcoran Sunshine Marketing Group, the leading new development sales and marketing company. “That means there is always opportunity here for smart investors.”
All over the five boroughs, here are 10 neighborhoods where you can put your hard-earned dollars, and some for good luck where you can get in cheap.
Far West Chelsea, Manhattan
Financial District, Manhattan
Upper West Side, Manhattan
Crown Heights, Brooklyn
Upper East Side, Manhattan
West Village, Manhattan
Long Island City, Queens