I have a gorgeous 2br/2ba for sale on the LES if you're still looking! I'm the owner! funegirl@gate.net

Shana:
Going toward the east river on the Lower East Side doesn't necessarily mean that you will have a better investment in the big picture. I grew up on the Lower East Side I still have an apartment there and I know every nook and cranny trust me. I was there when the Open Market began in 2000 I sold 30 apartments that year.

I find that people prefer Seward Park because it is right near the subway 1 bloc from the Ftrain on Delancey and EBroadway. The prices in Seward park are 20% higher because the people want the proximity to the subway and also it is more gewntrified no bodegas near Seward and the projects are near Hillman and East River not Seward. Also Sewrd is under different management than East River and Hillman and the maint is much lower like 200 a month for a one bedroom. The managers of East River and Hillman have a personal venue they are the "Old Timers and they say in the Board Pkg that they don't have to disclose what they do w the extra funds if any. Seward is managed by the people they broke away 6 yrs ago and hired Greenthal Trump as a managing agent who is very very u[pscale in Thinbking. I can also tell you how they keep the maint so low and there is never an assessment even though Seward is in the process of redoing theior hallways and the Lobby. lso Seward offers parking for under 200 a month there is a wait list the other buildings do not offer that. I believe your best bet is seward I also like the pre-war Amalgamated do you know of that one? It was part of the cooperative village until they broke away as well in 2000. The maint in Amalgamated is app 300 for a one bedroom and it is very nce 6 small bldgs around a courtyard. Very different from the others. Martin Cohen an attorney in the neighborhood runs it very well. If you need anymore info you can call me at 917 7101913 or email me at: audreynnj5@gmail.com Currently I have 2 terraced 800plus sf apts in Seward asking 550-600 but I know one owner will let it go for 500 maint is 505 It is a hugh apt and one of the balconies is enclosed so it can be used as a 2nd bedroom and the hi floors offer expansive stunning views. This to me is "AN APARTMENT" of VALKUE Terrace vus large space hi floor low maint they were goping fopr almost 700k in 2006. This is where I would put muy money if I were buying today or even a 2 bedroom w views renovated nicely in seward you can get for 600k maint 607 1100 sf the terrace is enclosed and it has bright lite and vus. Hillman is not a vu bldg and East River can ber gorgeous on the right floor but 7/8 blocks from the subway? You can transfer on the 4th stop if u take the bus.

Audrey Nevitsky

Buying in Manhattan is a good investment! If you are looking for a deal the lower eastside is a good place to consider, and it is a neighborhood in transition, but very much a neighborhood. The better deals will be had on co-ops not condos, condos cost more to contruct these days so you get less space for your money. Deferred taxes on condos are a short term thing and when those taxes kick in watch out because your monthly will jack up considerably. Find a broker that you trust, and one who will work to find you what you need. Do yourself a favor and get pre-approved for a loan in this way you will know exactly
how much you have to spend. Good Luck.
Deborah Bee Broker

You are correct in being able to buy more square footage when you move further east from those areas, but like you said you will lose neighborhood appeal. Nolita, Noho and the east village are doing very well. If you are looking for a long term investment, buying a newly constructed condo would be the best move to make in my opinion. I would choose one that has a tax abatement so you can keep your expenses down while you are living there. Most of our inquiries are for Condo’s and especially now more than ever banks are more interested in lending on a Condo rather than a Co-op, therefore you will attract more buyers when you decide to sell as well as generally lower interest rates. If you would like to see some of the hottest new buildings in these areas you mentioned, we would be glad to spend some time looking with you or just simply email what we feel to be some of the better values for investment. If you are not looking for new construction of which I have several in mind are you interested in finding something that you could add value to such as a remodeling project. Please feel free to email me you contact details or any further questions. michael@elegran.com

Shana, My view is that owning anywhere in Manhattan is a terrific long term investment. Your priorities are right on: long term investment potential and that you love the area.

What I know about the areas closest to Grand Street is that while less costly than where you live now, it's also undergoing a great deal of development and genetrification. Of course, I remember when Nolita was a nowheres land and only a few brave souls lived in Soho. Oh, and the Bowery was a really bad strip.

Find a good Realtor--someone who knows the area and the specific buildings. Visit units in a couple of neighborhoods, get a feel for the places, and crunch the numbers. I'm sure your choose well.

If it's helpful in finding an agent, I left a link to Prudential Douglas Elliman's agents page.

Good luck,
GerryV