New York real estate is notoriously strong, and as people continue to flood into the city from all corners of the world, prices will only continue to go up in all of the boroughs. No matter if you need a three-bedroom suite or a basement studio, rent is high, especially in Manhattan, the heart of the city.
Fortunately, Brookhill Properties and Raphael Toledano have been keeping a close watch on nearly every corner of NYC, which means we can fairly confidently tell you which cosmopolitan areas are ripe for the renting. Here are eight Manhattan neighborhoods that offer the right price and keep you in the middle of it all.
A small section of the Upper East Side, Yorkville began as the German district of the city. Though a few remnants of its German past remain ― including an amazing butcher and some historic buildings ― Yorkville is now a demographic melting pot, thanks in part to the neighborhood’s proximity to Harlem.
Yorkville is more affordable than other Manhattan neighborhoods because its rental options tend to be older and feature fewer amenities. Most buildings are pre-war walk-ups, which allow for lower rents. This, coupled with the plethora of colleges nearby, makes Yorkville an attractive place for younger tenants.
One of the most popular neighborhoods in Manhattan, the West Village is packed with great amenities. This neighborhood contains beautiful parks, historic buildings, accessible transit, and amazing food. Perhaps best of all, the West Village is incredibly quirky, providing a unique taste of NYC life.
Admittedly, the West Village is not cheap. However, many experts label the region as a “starter neighborhood,” to which successful singles and families move before transitioning into even more affluent areas, like the Upper West Side.
Almost unanimously, New Yorkers agree that the East Village is the true heart of the city. The neighborhood boasts some of New York’s most iconic places, especially when it comes to music, and the culture is unequivocally cool.
In recent decades, real estate developers have replaced most of the East Village’s older tenement buildings with luxury apartment buildings. Thus, rent varies depending on where exactly you choose to live in this neighborhood.
Barely five years ago the thin strip of buildings known as the Bowery ― nestled in the center of Midtown, between Lower Manhattan and the Lower East Side ― was an infamous sight of urban decay, but today, the historic neighborhood is utterly revitalized and wonderfully New York. Populated by creatives of all types, the Bowery is colorful and fun, entirely unlike its ambiance in the past.
For now, the Bowery has some of the lowest prices in its area. Unfortunately, gentrification has exploded rent prices dramatically in recent years, and as the neighborhood continues to clean up, the cost of living will only increase.
Kips Bay is a quiet corner of the Lower East Side, hemmed in by Murray Hill, Rose Hill, and Gramercy Park. Tucked away from the more active regions of the city (which are still just a 10-minute walk away), Kips Bay is a peaceful place for professionals who want to have access to shops and nightlife without living directly above them.
Kips Bay remains one of the least expensive neighborhoods in Manhattan ― primarily because it lacks the trendy restaurants and shops. However, those hunting for high-quality living spaces in a peaceful setting should definitely look here.
Right in the center of Midtown, the Flatiron District claims some of New York’s most beloved landmarks, not least of which is the Flatiron Building itself. Though the buildings here are largely commercial, excellent shopping opportunities are beginning to invade, making the neighborhood much more exciting. Plus, the views from residential high-rises are outstanding.
The central location of Flatiron is perfect for professionals looking for a short commute, but apartments here aren’t necessarily cheap. Fortunately, the wealthy businesses of the area ensure the standards of living are high enough to match the costs.
Claiming the reputation abandoned by the now touristy SoHo, NoHo (North of Houston) is stylish, friendly, and bursting with activity. The neighborhood feels close and home-grown; absent are the faceless national chain stores that are taking over more popular regions of the city. In fact, designated a historic district by the Landmark Preservation Society, NoHo should keep its signature look for decades.
NoHo was among the hardest-hit NYC neighborhoods during the recession, and its real estate prices plummeted. Though apartment rents have nearly recovered, NoHo remains an excellent place to enjoy Manhattan culture without exorbitant costs.
Stuyvesant Town feels just like a small village in the countryside, though it is located a short walk from some of the most active regions of Manhattan. Trees line the street, making the neighborhood feel cozy and calm, and the absence of shopping and nightlife keep the noise levels down.
Stuy Town was erected after World War II as an affordable neighborhood for returning veterans, yet despite the remaining buildings (many of which are relatively unsightly for New York) rents here are continuing to rise. Still, some rents are stabilized in older buildings, making this a reasonably quaint place to settle down.