Have You Noticed Any Changes in Manhattan and Surrounding Areas?

Despite conversions and new high rise developments popping up all over the areas surrounding Manhattan, including Long Island City, Williamsburg and DUMBO, vacancy continues to plummet causing residential property prices to increase. What an investor or a home buyer may have paid for an apartment in Manhattan just a short time ago has quickly become the new price for the upscale Brookyn neighborhoods that lie a short bridge or tunnel away from Manhattan.
One should not have to look too much further geographically than just beyond the first wave of Brooklyn neighborhoods to become “Little Manhattan.” Beyond Williamsburg lies the expanse of Bushwick, whose prices have shown steady increase as both investors and residents find themselves willing to go that extra mile or two past the Williamsburg border. This spillage, as it is known in the world of real estate, also applies to the Kensington neighborhood, which lies just past the well established neighborhood of Park Slope.
Have you noticed a change in any of these areas? Would you consider investing in or moving to any of these up and coming neighborhoods?

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