High rent got you down? Here are five nabes with great deals
With rents in Manhattan continually reaching new highs, it's getting harder to find an affordable apartment in the city. Gary Malin, president of realty firm Citi Habitats, offered five neighborhoods that still have good rental values:
"The neighborhood, especially along the 'Gold Coast' of Frederick Douglas Boulevard, is booming with new restaurants and condos," Malin said. He pointed out that East River Plaza on Pleasant Avenue - with a Target, Costco and other big-box stores - offers plenty of shopping options in an area that remains relatively affordable. The wealth of close-proximity venues makes the nabe worth it, he said.
Alphabet City/Lower East Side
"The reason these areas are relatively inexpensive are due to housing stock and transportation issues," Malin said. The buildings in the area "have a charm all their own," he added, but "sometimes apartments can be up multiple flights of stairs or have cramped, narrow rooms." Plus, getting to the subway can be a hike. But a reminder: It's the best value for people who love nightlife and the "downtown" lifestyle, Malin said.
Upper East Side
"The Upper East Side is primarily a residential area, so there is generally a lot of available inventory on the market," Malin said. "For the best values, look east of Second Avenue and at walk-up buildings. There also may be great deals along Second Avenue if you can handle the ... subway construction."
"Apartments in Astoria tend to trade at a 35% discount to equivalent properties in Manhattan," Malin said. Also, midtown is only a 10-to-15-minute subway ride away from the Queens nabe. But Astoria is its own mecca of international cuisine and nightlife, Malin added, making it an attractive place for bargain renters.
Brooklyn's northernmost neighborhood is the cheaper option to nearby Williamsburg and Long Island City, Malin said. It's bustling with bars and restaurants along its main drags, Manhattan Avenue and Franklin Street. And it has a thriving artistic vibe with warehouse and industrial properties. But "the downside to Greenpoint is access to transit," Malin said. "The neighborhood's only subway line, the G, is consistently rated the city's least reliable. "