From Brownstones to Billion-Dollar Views: NYC’s Hottest Neighborhoods for 2024
New York City is always reinventing itself, and so is its real estate landscape. While classic neighborhoods like the Upper West Side and Tribeca continue to hold their charm, a fresh wave of up-and-coming areas are catching the eyes of buyers and investors alike. Here are five of NYC’s hottest neighborhoods to watch in 2024.
- Long Island City (Queens) LIC is no longer just an overflow option. With sleek new developments, waterfront parks, and a booming arts scene, this neighborhood has transformed into a prime destination for both renters and buyers.
- Hudson Yards (Manhattan) A billion-dollar mega-development with luxury living, high-end shopping, and some of the city’s most stunning views. Hudson Yards is perfect for luxury buyers looking for new construction in Manhattan.
- Greenpoint (Brooklyn) Often overshadowed by Williamsburg, Greenpoint has emerged as a more laid-back, yet equally stylish alternative. Think indie coffee shops, chic lofts, and a thriving creative community.
- East Harlem (Manhattan) This historic neighborhood is seeing a surge in new residential development, especially affordable luxury. Its proximity to Central Park and major transit lines makes it a smart long-term bet.
- Downtown Brooklyn Once purely commercial, Downtown Brooklyn is rapidly morphing into a residential hotspot. High-rises, new schools, and retail spaces are attracting families and professionals in droves.
Whether you’re buying your first apartment or scouting for investment opportunities, these neighborhoods are full of potential—and getting in early could be your smartest move yet.
Why Everyone’s Still Betting on NYC Real Estate (Even in a ‘Post-Pandemic’ World)
New York City has always been one of the world’s most iconic and competitive real estate markets. And while the pandemic prompted many to question the future of big-city living, recent trends show that the allure of NYC is far from fading. In fact, savvy investors and first-time buyers alike are still putting their money on the five boroughs. Here’s why.
- Scarcity Still Rules the Market NYC isn’t getting any bigger. With limited space and sky-high demand, the principle of scarcity ensures that property in New York will always hold intrinsic value. As remote work options settle into hybrid norms, people still crave proximity to opportunity, culture, and convenience—which NYC offers in spades.
- Rental Demand Is Roaring Back As companies bring employees back to the office (even part-time), demand for rentals in Manhattan, Brooklyn, and Queens has surged. Vacancy rates are shrinking, rental prices are climbing, and investors are enjoying healthy returns once again.
- International Buyers Are Returning Now that global travel has picked up again, international investors are back in the game. NYC real estate is often seen as a safe haven—a stable asset in an unstable world. Whether it’s luxury condos or multi-family units, foreign interest is heating up.
- Incentives and Tax Benefits For buyers and developers alike, New York continues to offer strategic tax incentives, especially for long-term investments or property improvements. Savvy investors understand how to leverage these programs to maximize ROI.
- Neighborhoods Are Evolving Emerging neighborhoods like Long Island City, East Harlem, and parts of Brooklyn are experiencing a renaissance. With new developments, upgraded infrastructure, and a growing cultural scene, these areas offer high upside for early movers.
Bottom line? Don’t let the headlines fool you. NYC is still a heavyweight in real estate—and for those who play it right, the payoff can be massive.
First‑Time Buyer in 2025? Here’s What Nobody Tells You (But Should)
Buying your first home has never been more complex. In 2025, fluctuating interest rates, inventory shortages, bidding wars, and rising living costs have transformed what was once a rite of passage into a strategic financial endeavor. If you’re a first‑time buyer, here’s what the textbooks don’t always explain — and what you really need to know.
The Reality of Today’s Market
Interest rates today are higher than they were a few years ago, meaning monthly mortgage payments are more expensive even if home prices aren’t skyrocketing. This impacts:
- your buying power
- affordability thresholds
- long‑term financial planning
At the same time, inventory in many markets remains tight. Starter homes — traditionally the entry point for first‑time buyers — are in especially short supply.
It’s More Than a Down Payment
Many first‑time buyers think they just need a down payment, but the costs extend far beyond:
- Closing Costs:
Typically 2–5% of the purchase price, covering fees, insurance, attorney costs, and taxes. - Appraisal and Inspection Fees:
These ensure the home is worth what you’re paying and that there are no hidden structural issues. - Moving and Immediate Repairs:
New homeowners often underestimate what it costs to move furniture, fix issues, or upgrade essential systems. - Emergency Reserves:
Lenders may require you to show proof of funds after closing — and having a financial cushion is always wise.
Why Pre‑Approval Matters
Getting pre‑approved (not just pre‑qualified) is a game‑changer. Pre‑approval:
- shows sellers you’re serious
- establishes your maximum loan amount
- gives you negotiating leverage
In competitive markets, buyers without pre‑approval often lose out to those who have it in hand.
Competing With Investors and Cash Buyers
In many regions, investors and cash buyers dominate single‑family home purchases. Their ability to close quickly and waive contingencies makes them extremely attractive to sellers. As a first‑time buyer, you can still compete by:
- offering flexible closing dates
- working with an experienced agent
- being strategic about contingencies
Work With an Agent Who Knows Your Market
The right agent isn’t just someone with a lot of listings — it’s someone who:
- understands hyper‑local market trends
- knows what drives pricing in your neighborhood
- can advise on comps, walk‑ability, school districts, and future developments
This depth of knowledge can mean the difference between a wise investment and a costly mistake.
Negotiation: It’s Not Just Price
Negotiation isn’t just about lowering the sale price. It can also involve:
- paying for certain repairs
- asking for home warranties
- negotiating closing cost credits
- timing your move‑in date to suit your budget
Inspection Isn’t Optional
Skipping the inspection to win a bidding war can be tempting, but it’s risky. Issues like foundation problems, electrical issues, or roof damage can cost tens of thousands in repairs later.
Plan for the Long Term
Think beyond the first year. Consider:
- resale potential
- neighborhood growth
- property taxes
- HOA or condo fees
Buying a home is not just a personal milestone — it’s one of the most significant financial decisions most people make.
About Avraham Glattman
Avraham Glattman is the owner of First American Properties Group, a real estate business based in New York City, New York.
Avraham brings over 26 years of experience working as a real estate agent in the city, where he continues to work today. He graduated from Newport University with a Bachelor’s Degree in Business Administration and Management and remained at the university to attain his Masters of Business Administration (M.B.A.). After graduation, he jumped straight into the real estate field in 1992 in the greater New York City area. Throughout his career, Avraham has explored listings across the New York area, keeping a detailed account of the locations, pricing and comparable properties in the housing market.
After gaining a wealth of knowledge about the real estate marketing in New York, Avraham Glattman decided to take it a step further by creating First American Properties Group with his longtime business partner, Pete Jacov in 2008. First American Properties is a real estate and development company that services the five boroughs of New York. The company currently owns residential and commercial properties in Queens, Downtown Brooklyn, Harlem, and Manhattan. The company focuses on monitoring the growth and development in different areas of the city, so they can work to establish more patterns of growth and help revitalize the area.
While monitoring the different areas of New York City, Avraham Glattman consistently keeps an eye out on up-and-coming neighborhoods that he could potentially invest in. For example, after seeing Harlem, Avraham was immediately impressed by the neighborhood’s charm, leading him to invest in properties in the area. With a convenient location next to the subway and charming business like music venues in the area, it was not hard to see what attracted Avraham to the area.
Today, Avraham Glattman continues to find new investments with First American Properties Group, alongside his business partner, Pete Jacov. Together, they are working towards the goals that they set for First American Properties Group. The goals include acquiring property in the Harlem area to renovate and sell, as well as acquiring properties in all five boroughs.
Avraham Glattman is also the proud owner of 1927 Café Bar Popularr. Located in Harlem, the café serves a variety of open-faced Mediterranean sandwiches, called ‘Toastics’, and many types of coffee. Café Bar Popularr is proud of the rich artistic traditions of Harlem, and invites local musicians, authors, and comedians to visit and share their talents with friends.
Avraham was born and raised in Israel, where he went graduated high school. Not long after, he served in the Israeli army for three years, before he was sent to the United States to work with an Israeli newspaper in Brooklyn, NY. Not long after making the move to New York, Avraham met the woman that would become his wife in 1991. Together, they have three children.
In his spare time, Avraham Glattman enjoys spending his time with his wife and three children and loves to explore new parts of New York City. Avraham’s incredible dedication to both his work and family brings him immense happiness and purpose each day.
To learn more about who Avraham Glattman is, visit AvrahamGlattmanNewYork.com.
