In my opinion, the best values right now are on the Upper East Side and in the Financial District. As you may know, we are trending up, and most neighborhoods right now have very little inventory. Properties are routinely sold in multiple bidding situations (bidding wars) for at or above ask. The reason the Upper East Side is good value now is that it is one of the few neighborhoods with abundant inventory and, furthermore, will appreciate in the future with the coming of the 2nd Ave. subway. The Financial District is still developing, though quickly, as a residential neighborhood. There is still room for appreciation there and more amenities are coming to the neighborhood all the time. As an investor, positive cash flow would be up to 5%, if you are lucky.
Halstead Property, LLC