NY Curbed reports that in its annual list of NYC neighborhoods to watch out for the following year, StreetEasy has placed West Harlem atop its top 10 list. StreetEasy defines West Harlem as the neighborhood roughly bounded by West 123rd Street to the south, Broadway to the west, West 135th Street to the north, and St. Nicholas Avenue to the east. West Harlem’s position at the top is also the first time a Manhattan neighborhood has placed at the top of the list since StreetEasy began doing these types of surveys.
StreetEasy analysts felt that a Manhattan neighborhood coming out on top was indicative of renters being frustrated with the subway—like the impending L train shutdown—and deciding to move back to Manhattan.
In determining their top 10 picks, StreetEasy considered four factors: annual change in median sales and rent price, listing views on StreetEasy and new certificates of occupancy (which are an indicator of a newly completed construction) filed with the city.
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West Harlem came out on top due to its growth in sales price, its easy access to the subway, and a moderate growth in rental prices, which will encourage more people to move there in search of affordable apartments. It was a similar situation in many other neighborhoods in the top 10.
“Neighborhoods like West Harlem, Woodside, and Prospect Park South, which have long been outshined by their popular neighbors, are finally taking the spotlight in 2018,” said StreetEasy senior economist, Grant Long. “As New Yorkers seek to balance affordability with convenience, these nearby neighborhoods are seeing a surge of interest, growing prices, and an influx of new development.”