It seems like every few months a publication or a real estate website anoints a new neighborhood(s) as the “hottest new neighborhood” in New York City (including, um, us), and this week is no different. PropertyShark has predicted that East New York would be the most happening neighborhood this upcoming year, The New York Post first reported.
Among their reasons for East New York’s impending boom is the recent rezoning of the neighborhood and the thousands of new residents that will eventually bring (but it remains to be seen how much of that progress will actually take place in 2017).
East New York is also at the center of an epic speculation battle that’s driving up home prices throughout the neighborhood. PropertyShark calculated that the median sale price in the neighborhood at $339,275 in 2016, was a 19 percent increase from the previous year, and a 44 percent increase from five years ago.
But since this “hottest new neighborhood” story is all too familiar—and, inevitably, a harbinger of gentrification—we thought we’d give you a roundup of all the different neighborhoods that staked their claim on this seemingly slippery title over the past year.
↑ At the end of last year StreetEasy placed Kingsbridge at the top of a list of 10 neighborhoods to look out for in 2017, DNAinfo first reported. StreetEasy cited reasons like its proximity to Manhattan, the robust transportation options in the neighborhood, and a low median rent—the lowest among the ten neighborhoods the real estate website picked.
New York Times List
↑ In February last year, The Times came up with its own list of neighborhoods to look out for in the coming years, and while they didn’t rank any of them, the neighborhoods to feature in that list included East Harlem, Flatbush, the Rockaways, and in what appeared to be a self-coined term, “Sunset Park West.” Neighborhoods like Bushwick, Ridgewood, and Crown Heights had already had their moment, the paper of record reported, and now developers were making a beeline for the South Bronx and Staten Island.
↑ Just a little over a year ago, StreetEasy put out another list of the best upcoming neighborhoods to look out for and Queens dominated the list at the time with several entries in the top 10. Jamaica took the top spot, Business Insider first reported, and StreetEasy identified reasons like a big population boom since 2011, more buyers, and easy access to the subway and LIRR as factors going in the neighborhood’s favor.
If there are any other lists or neighborhoods we missed out from the roundup, be sure to let us know in the comments section below.