No other city changes as quickly as New York City. It’s easy to feel behind on the latest trends, restaurants and hotspots.

As Manhattan luxury apartment specialists, we’re happy to provide you a bit of foresight into NYC’s most up and coming neighborhoods.

Lower East Side

 

What it Was:

Just south of the East Village, the Lower East Side used to be an immigrant/working-class neighborhood in the 80’s and 90’s.

What’s Changed:

Beginning in the early 2000’s, the LES started developing with lots of trendy restaurants and bar life.

What’s Coming (photo above):

The once vacant parking lot on Delancey Street will become The Essex Complex Crossing in early 2020.

It will include luxury apartments, new restaurants, and shopping.

View our Lower East Side Manhattan luxury apartment listings

2008 Average Rent: $2,973
2014 Average Rent: $2,929

2008 Average Purchase: $706,305
2014 Average Purchase: $565,880

 

Hudson Yards

What it Was:

Prior to the rezoning in 2005, Hudson Yards was solely a train yard for extra trains running into Penn Station.

What’s Changed:

In 2005, New York City rezoned the area to prepare for residential and commercial development starting in early 2010.

What’s Coming (video above):

The Hudson Yards redevelopment project will produce its first 895-foot tall building as early as 2015.

Other new developments include extending the 7 subway line to 11th avenue as well as a new school.

View our Midtown West luxury apartment listings.

2008 Average Rent: $3,967
2014 Average Rent: $4,413

2008 Average Purchase: $1,256,849
2014 Average Purchase: $3,916,432

Financial District

 

What it Was: 

The well-known Financial District has always been home to the city’s finest businesses.

What’s Changed: 

In the early 2000’s, the residential rate jumped nearly 300% after the neighborhood started converting old office buildings into luxury apartments. FiDi residences have arguably the best rooftops in Manhattan (rooftop at 20 Pine Street photographed above).

What’s Coming:

FiDi is set to become the host to two 50+ level condo/hotel buildings in the next few years.

Also for those foodies out there, The Howard Hughes Corporation is developing a 40,000 square foot world-class food market on the West Side Seaport.

 

View our Financial District luxury apartment listings.

2008 Average Rent: $3,332
2014 Average Rent: $3,704

2008 Average Purchase: $1,091,426
2014 Average Purchase: $1,300,254

Washington Heights

 

What it Was:

In the past 50 years, Washington Heights has hosted many different kinds of immigrants looking to start a new life in the city.

What’s Changed:

In the early 2000’s, urban development began by introducing the neighborhood to restaurants and bars of all different ethnicities.

What’s Coming: 

Washington Heights’ George Washington Bridge bus terminal recently began a $183 million dollar renovation to update the travel hub.

 

View our Upper Manhattan luxury apartment listings.

2008 Average Rent: $1,673
2014 Average Rent: $1,911

2008 Average Purchase: $531,336
2014 Average Purchase: $446,714

 

 

Summary

It’s important to factor in more than just cost when searching for your ideal Manhattan apartment.

Factors like space, proximity to work and transportation, how loud a neighborhood is and more are all incredibly important!