Lauren Muss, broker, Douglas Elliman:
“The Lower East Side. We are seeing a surge in new development by highly regarded architects and a host of attractions including the New Museum and another yet-to-be named museum at Essex Crossing, which in and of itself is changing the neighborhood into a major world-class destination. Essex Crossing will boast an array of restaurant, retail, entertainment and office space highlighted by The Market Line. Anchored by an updated and expanded Essex Street Market, The Market Line will provide the community with a continuous three-block shopping experience inspired by the world’s great public markets.
“As buildings like 215 Chrystie take shape and closing begin, and the vision for Essex Crossing takes hold, more and more people are envisioning themselves living in this very exciting neighborhood, and interest has gained momentum.”
Pamela d’arc, broker, Stribling:
“Between its proximity to the highway and the traffic issues in New York City, the East 57th Street corridor offers easy access to airports, east end of Long Island, uptown schools and is far more convenient. Additionally, the retail is changing to support all the new developments on 57th, and [it is] close to Sutton and the East River Promenade for exercising, dog walking. The neighborhood offers a more residential and less touristy feel, yet it is within close proximity to the park, Carnegie Hall, and world-class shopping.
“We are seeing families move in to the area, as they may have kids in schools both uptown and downtown so this is central…a lot of people who want to walk to work in midtown since traffic has gotten so much worse with lanes being taken away. There is a committed group of people who live in the East 50s and wouldn’t live elsewhere because of the convenience factor.”
Shaun Osher, founder and CEO, CORE:
“Hudson Square is one of the best-located neighborhoods downtown. Wedged between Tribeca, the West Village and Soho and adjacent to Hudson River Park, it is still a quiet enclave—which is what makes it appealing. There are also a number of developable sites remaining—some of which will be bought and developed this coming year.”
Julia Boland, broker, Corcoran:
“East Harlem is an increasingly popular neighborhood that is now bridging the new East Harlem rezoning and the historically luxe amenities and services of Carnegie Hill. Even now, new restaurants, cafes, stores, upgraded shops, a newly renovated subway stop [103rd Street], an increasingly vibrant art-slash-gallery scene and new real estate developments and conversions are inspiring a creative energy, like that found in exciting and developing neighborhoods of Brooklyn.
“1399 Park, at 104th Street and Park, is a new development that is breaking neighborhood price records and giving a new level of luxury for the neighborhood. It will really be setting a new barometer in pricing for East Harlem—prospective buyers can buy one of the nicest units in the building, a duplex penthouse with private outdoor space, for $1,283 a square foot.”
Sherry Tobak, senior vice president, Related Sales:
"All signs in 2017 are pointing to the west side of Manhattan and Hudson Yards, where the city’s most innovative new neighborhood and cultural epicenter are coming to life. There is so much excitement and pent-up demand for the developments that are rising along the Hudson River and I am absolutely sure that this will continue into the new year. The incredible pace of sales at 15 Hudson Yards has sent a clear message to us that people want to get in on the new West Side to experience the unique combination of restaurants, galleries, schools and amazing waterfront parks.”
Lee Ann Jaffe, broker, Stribling:
“The West 14th Street neighborhood is at the crossroads of so many other of Manhattan’s most desirable neighborhoods, such as Greenwich Village, Chelsea and the Highline, Flatiron and the Meatpacking District and it ties them all together. This neighborhood is all about convenience and value. Few areas in Manhattan are as close to so many major subway lines, top restaurants and stores. Most importantly, from a value standpoint, West 14th Street is extremely attractive to buyers compared to its surrounding, much pricier neighborhoods. NYC is always changing and there have been a number of new developments nearby, such as The D’Orsay at 211 West 14th Street.”
Daniel Hedaya, president, Platinum Properties:
“I think that the Financial District should be an interesting neighborhood to keep an eye on for 2017. There are some really incredible buildings opening up, and with the surplus of inventory, expect some of the city’s best concessions to be offered in FiDi. That in conjunction with the amount of transportation access is going to make it a real great place to get a good deal on a luxury product. Also, with tons of new neighborhood conveniences opening, it will become more of a destination to live in.
“180 Water Street, which is being developed by Metroloft Management, is going to be a really incredible project for rentals. The rooftop is going to offer an outdoor pool and cabanas, which will really make it an attraction in the neighborhood. Also, the building is going to be extremely high end for a rental product, as it is designed by Cetra Ruddy.”
Lisa Maysonet, broker, Sotheby’s International Realty:
“Hudson Yards. There is a saying, ‘When you built it, they will come.’ When they first built the Time Warner Building, nothing like that existed on the West Side. At the time, it was like 2,500 per square foot, and we thought they were out of their mind. Meanwhile, they got it, and now it’s like 6,700-plus per square foot. All of the amenities space, and you have all that beautiful shopping—Hudson Yards is going to be like four times that! While you have to do your due diligence, I think there will be opportunities [at Hudson Yards], big picture and long term, for sure. It’ll be a city within the city!
“The other thing is anything close to the Second Avenue subway. The news is that East End Avenue will come back to life, and it’ll be the new Fifth Avenue. Anything around there, I think that would be a good investment.”
Sydney Blumstein, broker, Corcoran:
“I feel that Clinton Hill is the most interesting neighborhood, because of the diversity of housing and still feel most of the prices are still affordable for the caliber of the buildings. I also live in the East Village just east of Second Avenue and feel that Alphabet City has incredible value, but the prime East Village corridor is very interesting as well Third Avenue through Avenue A, as [there are] many prewar walk-up buildings you can score a fantastic unit with great bones and low maintenance!”
Doug Heddings, executive vice president of sales, CORE:
“Despite the efforts of so many real estate agents in marketing the [Second Avenue subway] corridor prior to the subway’s completion, most are only now considering the convenience of the Q line now that it is receiving rave reviews…the actual operation of the new Q line extension has received such rave reviews that people who may have once been opposed to living East of 3rd Avenue are seriously considering the area for their home.
“There are a multitude of condos between First and Third Avenues directly impacted by this, and the area remains a bargain relative to other neighborhoods in the city, including the Upper East Side west of Lexington Avenue.”
In the unpredictable realm of New York real estate, there is always a new neighborhood grasping for status. Trends change fast, but what areas will garner the most interest in 2017? In the slideshow above, industry experts give their take on where to look this year.