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Best neighborhoods to invest in, average Manhattan rent hits $5,000, & more

By Emily Myers | July 22, 2022 - 2:30PM

Emily Myers for Brick Underground 

This week readers visited Brick Underground to find out where to buy in New York City if the goal is to earn money from renting the place out. Investment advice largely boils down to being brave enough to buy something that no one else is buying now, but everyone will want later. The Lower East Side, East Village, Bushwick, and Bed-Stuy are popular neighborhoods for young renters. Another tactic is to buy where listings are scarce, like the very desirable West Village.

Also of interest: The average rent for a Manhattan apartment hit $5,058 in June—an increase of 29 percent over June 2021. Brokers tell Brick that buyers are fearful of a recession and willing to pay a premium for a rental now instead of buying.

Here are this week's top five posts: 

1) The best NYC neighborhoods for real estate investors in 2022

2) Despite hitting new records, there are signs the Brooklyn and Queens sales markets are cooling

3) Average rent for a Manhattan apartment passes $5,000 for the first time

4) A housing lottery opens for 224 apartments on the waterfront in Greenpoint

5) What to know about buying in Marine Park, Brooklyn, where you can enjoy the outdoors (and street parking!) on a budget

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