AM New York published an article by Graham Wood yesterday touting five great nabes with good deals on New York City apartments for rent. We think Mr. Wood put together a pretty good list, although we can think of a different group of five nabes that we think have pretty good deals on NYC apartments for rent, with other benefits as well, such as a large inventory no fee apartments for rent.
Here is the list Mr. Wood put together, along with Gary Malin, president of Citi Habitats:
“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.
RDNY.com comment: We agree that Harlem offers some of the best values on rental apartments in Manhattan these days. We have no quibble with the comments above.
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.
RDNY.com comment: We agree that the Lower East Side apartments for rent are relatively expensive and come with easy to access nightlife. But they are often tiny and cramped. In our opinion, if you are not into the nightlife of the Lower East Side, or heavily into Katz’s Delicatessen, then your better off in another neighborhood.
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.”
RDNY.com comment: Once again, we agree. In fact, we would have placed the Upper East Side at the very top of this list. We think it has, dollar for dollar, the best values in town.
“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.
RDNY.com comment: Astoria has been “discovered” for a few years and the bargains are getting harder and harder to find, but they are still there. The ease of getting into Manhattan from Astoria makes it a top destination for people looking for an alternative to Manhattan.
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. “
RDNY.com comment: The comments for Greenpoint above are accurate. We would also add that Greenpoint, at least close to the central part of the nabe, has a nice vibe to it, but the transportation issue could definitely be a deal breaker.
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