If you have the money to invest in New York Real estate, let me say, right now, the best places to invest would be the upper east side and harlem. I'm predicting especially the upper east side above 70th street around york and 1st ave. Right now, that neighborhood, the far east of upper east side is the cheapest place to live. You can still find 1400 studios for rent there and studio apartments can still be bought for well under $1000 per sq ft. It's not a convenient place to live but with the new 2nd ave train in motion, after that project is finished (who knows how long that will take) the upper east side prices in housing will follow the trend of the rest of manhattan which means good news if you own up there. As far as harlem, it's booming. Luxury high rises are shooting up all around the low 100's- 120's. Crime will slowly but surely get flushed out and your investment will appreciate well. Just like your tank!