New York City has a lot of expensive property on the market and those who are looking for lower real estate costs are pushed further and further to suburban and exurban areas in order to find affordable housing. Areas that were traditionally more affordable and close to the major train line such as Williamsburg, Astoria, and Long Island City are now high priced and elitist. Finding property that is convenient and has the potential to incrase further in value can be challenging in New York City, but there are a few local communities that provide individuals with the possibility of significant price appreciation.
Atlantic avenue terminal is a major transportation hub with connections to JFK airport and a number of interconnections with other subway lines. Catching and transferring a subway here is easy and convenient. Further, the Barclay’s Center which houses the Brooklyn Nets and Long Island Islanders is located here and the area is undergoing a significant renovation. Buying property now in this area while the area is still building up can be a potentially wise investment.
The Upper East Side is one of the more expensive areas in Manhattan. However, the area along York Ave and 1st street is significantly cheaper than other parts of Manhattan due to the lack of a convenient subway line. One is being built now and once it is operational in a few years may provide a boon to the area leaving those who bought into the area now very happy when they sell their property.
Woodside is another enclave that is only a short jaunt over e East river and easily accessible by subway or with the LIRR. Woodside had a decently high crime rate and the price of property there was significantly lower as a result. As the area becomes safer the benefit of living less than ten minutes from Manhattan will eventually overwhelm the negatives of living in Woodside and the areas is prime for a real estate investment.
Jamaica Queens is one of the great hubs for transportation in New York City and connects quickly and easily to JFK airport. The area has been impacted by blight but some areas have slowly improved such as Jamaica Estates. As businesses continue to move into the community there is expected improvement in Jamaica and real estate prices are likely to soar.
Finding property in rejuvenating areas can seem challenging to an individual, but the right real estate broker can help meet this challenge. TOWN Real Estate has professional brokers who have a significant amount of experience in the local communities with available NYC properties can help you to spot real estate values quickly and allow you to make a great investment. Contact TOWN Real Estate and get to work finding a prime property for your investment portfolio.