Airbnb City Guide: The Best Places To Invest in New York, New York

Airbnb Rules and Regulations in New York, New York

New York City has stringent regulations for short-term rentals, including Airbnb. Hosts must understand and comply with these rules to avoid fines and legal issues. In New York City, renting out an entire apartment for less than 30 days is illegal unless the host is present during the guest's stay. Hosts must also register their rental with the city and obtain a permit.

Additionally, all short-term rentals must adhere to safety requirements, such as smoke and carbon monoxide detectors, and comply with building and zoning codes. Failure to follow these regulations can result in hefty fines of up to $7,500 per violation.

To ensure compliance, hosts should thoroughly review and understand the latest New York City short-term rental laws and consult with local authorities if necessary. By staying informed and adhering to these rules, hosts can provide a safe and legal experience for their guests while contributing to the responsible growth of the short-term rental market in New York City.

New York Airbnb Market Data:

• Occupancy Rate – 64%
• Average Revenue - $63.6K per year
• Average Daily Rate - $273.1 per night
• Average RevPAR - $180.1
• Average Home Prices - $732,594

1. Top Place to Invest in New York, New York - Fort Hamilton

Fort Hamilton, located in the Bay Ridge neighborhood of Brooklyn, offers a unique blend of history, convenience, and charm, making it an attractive investment opportunity for Airbnb and short-term rental (STR) investors in New York City. Let's explore what makes Fort Hamilton a top place to invest.

Fort Hamilton Airbnb Market Data:

• Occupancy Rate – 50%
• Average Revenue - $19.4K per year
• Average Daily Rate - $107.2 per night
• Average RevPAR - $54.7

Convenience: 8/10

Fort Hamilton boasts a convenient location at the foot of the Verrazano-Narrows Bridge, connecting Brooklyn to Staten Island. The neighborhood is well-served by public transportation, with the R train providing easy access to Manhattan and other parts of Brooklyn. Residents can find a variety of local amenities, including grocery stores, pharmacies, and convenience stores, all within walking distance.

Tourist Attractions: 7/10

While Fort Hamilton may not be a top tourist destination itself, it is surrounded by several notable attractions. The nearby Harbor Defense Museum, located within the historic fort, showcases the history of New York City's coastal defense systems. The Narrows Botanical Gardens and the Shore Road Park provide a peaceful escape with stunning views of the harbor and the Verrazano Bridge.

Things to Do: 7/10

Fort Hamilton offers a range of activities for residents and visitors alike. The neighborhood features several parks, including John Paul Jones Park and Owl's Head Park, which provide ample space for outdoor recreation. The area also boasts a diverse culinary scene, with traditional Middle Eastern and Italian eateries drawing food lovers from across the city. Annual events like the Fort Hamilton Halloween Parade add to the community's charm and appeal.

Average Home Prices: 7/10

According to Zillow, the median home value in Fort Hamilton as of 2024 is $850,000. While still relatively expensive compared to the national average, Fort Hamilton offers more affordable options compared to some of the pricier neighborhoods in Brooklyn and Manhattan. The area has seen steady appreciation in recent years, making it a solid investment choice for Airbnb and STR investors.

Proximity to Work-Related Travel: 7/10

Fort Hamilton's location provides convenient access to several major work-related destinations. The neighborhood is just a short drive from the Brooklyn VA Medical Center and the NYU Langone Hospital-Brooklyn. Manhattan's convention centers and business districts are also within reach via public transportation or a short drive.

X-Factor: 8/10

What sets Fort Hamilton apart is its unique blend of history and small-town charm within the bustling city of New York. The active military base and the historic fort provide residents a sense of community and pride. The neighborhood's tree-lined streets, well-maintained parks, and tight-knit community create a welcoming atmosphere that is hard to find in other parts of the city. Fort Hamilton's proximity to the waterfront and its stunning views of the Verrazano Bridge add to its unique appeal for Airbnb and STR investors.

Overall, Fort Hamilton presents a compelling investment opportunity for those looking to capitalize on the growing demand for short-term rentals in New York City. With its convenient location, rich history, and strong community spirit, Fort Hamilton is poised for continued growth and success in the years to come.

2. Top Place to Invest in New York, New York - Lefferts Garden

Lefferts Garden, a charming neighborhood in the heart of Brooklyn, has emerged as a top place to invest in New York City. With its convenient location, rich cultural heritage, and growing popularity among young professionals and families, Lefferts Garden offers a unique opportunity for Airbnb and short-term rental (STR) investors.

Lefferts Garden Airbnb Market Data:

• Occupancy Rate – 75%
• Average Revenue – $44.7K per year
• Average Daily Rate – $162.8 per night
• Average RevPAR – $125.8

Convenience: 9/10

One of the biggest draws of Lefferts Garden is its exceptional convenience. The neighborhood is well-connected to the rest of the city, with multiple subway lines (Q, B, 2, 5) providing easy access to Manhattan and other parts of Brooklyn. Residents can also enjoy a variety of local amenities, including grocery stores, cafes, and restaurants, all within walking distance.

Tourist Attractions: 7/10

While Lefferts Garden may not be a top tourist destination itself, it is surrounded by several notable attractions. The nearby Prospect Park, designed by the same architects as Central Park, offers a beautiful escape from the city bustle with its lush greenery, walking trails, and recreational activities. The Brooklyn Botanic Garden and the Brooklyn Museum are also just a short walk away, providing visitors a cultural and educational experience.

Things to Do: 8/10

Lefferts Garden offers a diverse array of activities for residents and visitors alike. The neighborhood is known for its vibrant dining scene, with a mix of international cuisines and locally-owned eateries. The Prospect Park Farmers Market, held every Sunday, is a popular spot for fresh produce and artisanal goods. The area also hosts several annual events, such as the Lefferts Gardens House Tour and the PLG Arts Music Festival, showcasing the community's creativity and spirit.

Average Home Prices: 7/10

According to Zillow, the median home value in Lefferts Garden as of 2024 is $1,150,000. While the neighborhood's popularity has led to increased property values, it still offers more affordable options compared to some of the pricier areas in Brooklyn and Manhattan. The strong demand for housing in Lefferts Garden and its growing reputation makes it an attractive investment opportunity for Airbnb and STR investors.

Proximity to Work-Related Travel: 8/10

Lefferts Garden's central location makes it an ideal base for work-related travel. The neighborhood is just a short subway ride away from major employment hubs in Downtown Brooklyn and Manhattan. The nearby Kings County Hospital Center and SUNY Downstate Medical Center are easily accessible for healthcare professionals. The Barclays Center, home to the Brooklyn Nets and various concerts and events, is also just a few stops away on the subway.

X-Factor: 9/10

Lefferts Garden's strong sense of community and cultural diversity sets it apart. The neighborhood is known for its historic architecture, with a mix of Victorian-style homes and pre-war apartment buildings. The area's tree-lined streets and friendly neighbors create a welcoming atmosphere that is hard to find in other parts of the city. Lefferts Garden's proximity to Prospect Park and its growing reputation as a foodie destination add to its unique appeal for Airbnb and STR investors.

Overall, Lefferts Garden presents a compelling investment opportunity for those looking to capitalize on the growing demand for short-term rentals in New York City. With its convenient location, cultural richness, and strong community spirit, Lefferts Garden is poised for continued growth and success in the years to come.

3. Top Place to Invest in New York, New York - Chinatown

Chinatown, a vibrant and historic neighborhood in Lower Manhattan, offers a unique investment opportunity for Airbnb and short-term rental (STR) investors. With its rich cultural heritage, convenient location, and growing popularity among tourists and locals alike, Chinatown is poised for continued growth and success in the years to come.

Chinatown Airbnb Market Data:

• Occupancy Rate – 68%
• Average Revenue – $141.7K per year
• Average Daily Rate – $571.4 per night
• Average RevPAR – $325.8

Convenience: 9/10

Chinatown boasts an exceptionally convenient location, with easy access to public transportation and major attractions. The neighborhood is well-served by multiple subway lines, including the B, D, Q, N, R, J, Z, and 6 trains. Residents and visitors can also find a variety of local amenities within walking distance, such as grocery stores, pharmacies, and convenience stores.

Tourist Attractions: 8/10

Chinatown is home to several notable attractions that draw visitors from around the world. The Museum of Chinese in America (MOCA) showcases the history and culture of Chinese Americans. The neighborhood also features iconic landmarks like the Mahayana Buddhist Temple, which houses the largest Buddha statue in NYC, and the Manhattan Bridge entrance with its beautiful Beaux-Arts arch. Chinatown's vibrant streets, lined with colorful shops and restaurants, are an attraction in themselves.

Things to Do: 9/10

Chinatown offers a wide array of activities and experiences for residents and visitors. The neighborhood is renowned for its diverse and affordable dining scene, with countless restaurants serving authentic Chinese cuisine. Annual events like the Chinatown Night Market and Lunar New Year celebrations add to the community's charm and appeal. Visitors can also explore unique shops, such as the historic Pearl River Mart, and immerse themselves in the neighborhood's rich history through guided walking tours.

Average Home Prices: 7/10

According to Zillow, the median home value in Chinatown as of 2024 is $1,200,000. While property values in Chinatown are relatively high compared to the national average, the neighborhood still offers more affordable options than some of the pricier areas in Manhattan. The strong demand for housing in Chinatown and its growing popularity among tourists and locals make it an attractive investment opportunity for Airbnb and STR investors.

Proximity to Work-Related Travel: 8/10

Chinatown's central location provides convenient access to major work-related destinations. The neighborhood is just a short subway ride away from the Financial District, Lower Manhattan's primary business hub. Several hospitals, including New York-Presbyterian Lower Manhattan Hospital and Bellevue Hospital Center, are easily accessible from Chinatown. The nearby Jacob K. Javits Convention Center, a popular venue for trade shows and events, is also within reach via public transportation.

X-Factor: 9/10

What sets Chinatown apart is its unparalleled cultural richness and authenticity. The neighborhood's vibrant streets, bustling markets, and traditional architecture create an immersive experience that transports visitors to another world.

Chinatown's tight-knit community and strong sense of identity have helped preserve its unique character in the face of gentrification. The neighborhood's growing creative scene, with initiatives like The W.O.W. Project and Chinatown Art Brigade, adds to its cultural appeal.

Overall, Chinatown presents a compelling investment opportunity for Airbnb and STR investors seeking to capitalize on the neighborhood's rich cultural heritage, convenient location, and growing popularity. With its diverse attractions, affordable dining and shopping options, and strong community spirit, Chinatown is well-positioned for continued growth and success in the short-term rental market.

4. Top Place to Invest in New York, New York - Tribeca

Tribeca, short for "Triangle Below Canal," is a trendy and upscale neighborhood in Lower Manhattan that has become a top place for Airbnb and short-term rental (STR) investors to invest. With its prime location, stunning architecture, and vibrant cultural scene, Tribeca offers a unique and lucrative investment opportunity in the heart of New York City.

Tribeca Airbnb Market Data:

• Occupancy Rate – 64%
• Average Revenue – $195.7K per year
• Average Daily Rate – $836.8 per night
• Average RevPAR – $510.5

Convenience: 9/10

Tribeca boasts an exceptionally convenient location, with easy access to public transportation and major attractions. The neighborhood is well-served by multiple subway lines, including the 1, 2, 3, A, C, E, N, Q, R, W, and J trains. Residents and visitors can also find a variety of local amenities within walking distance, such as high-end grocery stores, trendy cafes, and upscale restaurants.

Tourist Attractions: 8/10

While Tribeca may not have as many iconic landmarks as some other New York City neighborhoods, it still offers a range of attractions for visitors. The Tribeca Film Festival, founded by Robert De Niro, is a major annual event that draws filmmakers and movie enthusiasts from around the world. The neighborhood also features several notable art galleries, such as the Andrew Kreps Gallery and the James Cohan Gallery, which showcase contemporary and emerging artists.

Things to Do: 9/10

Tribeca offers a wide array of activities and experiences for residents and visitors alike. The neighborhood is known for its excellent dining scene, with countless restaurants serving diverse cuisines, from high-end sushi bars to cozy Italian trattorias. Tribeca is also home to several beautiful parks, such as Washington Market Park and Pier 25, which offer outdoor recreation and stunning views of the Hudson River. The neighborhood's cobblestone streets and historic buildings provide a charming backdrop for shopping, with a mix of luxury boutiques and unique local shops.

Average Home Prices: 6/10

According to Zillow, the median home value in Tribeca as of 2024 is $3,500,000. Tribeca is one of the most expensive neighborhoods in New York City, with luxury condos and townhouses commanding top dollar. While the high property values may be a barrier for some investors, the strong demand for short-term rentals in Tribeca can generate substantial returns for those who can afford to invest in this prime location.

Proximity to Work-Related Travel: 8/10

Tribeca's location in Lower Manhattan provides convenient access to major work-related destinations. The neighborhood is just a short walk or subway ride away from the Financial District, home to the New York Stock Exchange and numerous corporate headquarters. The nearby World Trade Center Transportation Hub connects Tribeca to New Jersey and other parts of the city via the PATH train. Several hospitals, including NewYork-Presbyterian Lower Manhattan Hospital and Bellevue Hospital Center, are also easily accessible from Tribeca.

X-Factor: 9/10

Its unique blend of historic charm and modern luxury sets Tribeca apart. The neighborhood's stunning cast-iron buildings and cobblestone streets create a timeless atmosphere, while its high-end amenities and trendy establishments cater to a sophisticated and affluent clientele. Tribeca's celebrity residents, such as Taylor Swift and Justin Timberlake, add to its allure and exclusivity. The neighborhood's thriving arts and culture scene, with galleries, performance spaces, and the iconic Tribeca Film Festival, further enhances its appeal for short-term rental guests seeking a quintessential New York experience.

Overall, Tribeca presents a compelling investment opportunity for Airbnb and STR investors looking to capitalize on the neighborhood's prime location, luxurious amenities, and strong demand for high-end short-term rentals. While the high property values may be a challenge for some investors, the potential for substantial returns and the neighborhood's enduring appeal make Tribeca a top place to invest in New York City.

5. Top Place to Invest in New York, New York - Boerum Hill

Boerum Hill, a charming and historic neighborhood in Brooklyn, has emerged as a top place for Airbnb and short-term rental (STR) investors to invest. With its convenient location, attractive architecture, and vibrant community, Boerum Hill offers a unique and profitable investment opportunity in the heart of New York City.

Boerum Hill Airbnb Market Data:

• Occupancy Rate – 72%
• Average Revenue – $82.6K per year
• Average Daily Rate – $314.7 per night
• Average RevPAR – $221.7

Convenience: 9/10

Boerum Hill boasts an exceptionally convenient location, with easy access to public transportation and major attractions. The neighborhood is well-served by multiple subway lines, including the A, C, F, and G trains, making it easy for residents and visitors to explore the city. The area is also within walking distance of various amenities, such as grocery stores, cafes, and restaurants.

Tourist Attractions: 8/10

While Boerum Hill may not have as many iconic landmarks as some other New York City neighborhoods, it still offers a range of attractions for visitors. The nearby Brooklyn Bridge Park provides stunning views of the Manhattan skyline and a variety of recreational activities. The Barclays Center, home to the Brooklyn Nets and various concerts and events, is just a short walk away.

Things to Do: 9/10

Boerum Hill offers a wide array of activities and experiences for residents and visitors alike. The neighborhood is known for its excellent dining scene, with countless restaurants serving diverse cuisines, from farm-to-table fare to international dishes. Smith Street and Atlantic Avenue, the main commercial thoroughfares, are lined with trendy boutiques, independent bookstores, and unique shops. The area also hosts regular community events, such as street fairs and farmers' markets.

Average Home Prices: 7/10

According to Zillow, the median home value in Boerum Hill as of 2024 is $1,536,099. While property values in Boerum Hill are relatively high compared to some other areas in Brooklyn, the neighborhood's popularity and strong demand for short-term rentals can generate substantial returns for investors. The historic brownstones and charming architecture add to the area's appeal and value.

Proximity to Work-Related Travel: 8/10

Boerum Hill's central location provides convenient access to major work-related destinations. The neighborhood is just a short subway ride away from Downtown Brooklyn and Manhattan's Financial District. Several hospitals, including NewYork-Presbyterian Brooklyn Methodist Hospital and Brooklyn Hospital Center, are easily accessible from Boerum Hill. The Barclays Center and the Brooklyn Academy of Music (BAM) are also within walking distance, making the area attractive for those in the entertainment industry.

X-Factor: 9/10

Boerum Hill's unique blend of historic charm and modern amenities sets it apart. The neighborhood's tree-lined streets and stunning 19th-century architecture create a picturesque and inviting atmosphere. The strong sense of community, with residents coming together for events and supporting local businesses, adds to the area's appeal. Boerum Hill's proximity to other popular Brooklyn neighborhoods, such as Cobble Hill and Park Slope, further enhances its desirability.

Overall, Boerum Hill presents a compelling investment opportunity for Airbnb and STR investors looking to capitalize on the growing demand for short-term rentals in New York City. With its convenient location, attractive architecture, vibrant community, and strong potential for returns, Boerum Hill is a top place to invest in the Big Apple.

6. Top Place to Invest in New York, New York - Kips Bay

Kips Bay, a vibrant and centrally located neighborhood in Manhattan, has emerged as a top place for Airbnb and short-term rental (STR) investors to invest. With its convenient location, diverse amenities, and growing popularity among young professionals and students, Kips Bay offers a unique and profitable investment opportunity in the heart of New York City.

Kips Bay Airbnb Market Data:

• Occupancy Rate – 65%
• Average Revenue – $82.6K per year
• Average Daily Rate – $348.4 per night
• Average RevPAR – $229.1

Convenience: 9/10

Kips Bay boasts an exceptionally convenient location, with easy access to public transportation and major attractions. The neighborhood is well-served by multiple subway lines, including the 6, N, R, and W trains, making it easy for residents and visitors to explore the city. The area is also within walking distance of various amenities, such as grocery stores, pharmacies, and restaurants.

Tourist Attractions: 7/10

While Kips Bay may not have as many iconic landmarks as some other New York City neighborhoods, it still offers a range of attractions for visitors. The nearby Bellevue South Park provides a peaceful escape from the city bustle with its well-maintained gardens and walking paths. The neighborhood is also home to the Kips Bay Towers, a notable architectural landmark designed by I.M. Pei.

Things to Do: 8/10

Kips Bay offers a variety of activities and experiences for residents and visitors alike. The neighborhood is known for its diverse dining scene, with countless restaurants serving cuisines from around the world, from casual eateries to upscale dining establishments. The area also features several popular bars and lounges, making it a great spot for nightlife. Kips Bay is home to the AMC Kips Bay 15 movie theater, a popular destination for movie-goers.

Average Home Prices: 7/10

According to Zillow, the median home value in Kips Bay as of 2024 is $1,150,000. While property values in Kips Bay are relatively high compared to some other areas in the city, the neighborhood's popularity and strong demand for short-term rentals can generate substantial returns for investors. The area's mix of luxury high-rises and charming pre-war buildings adds to its appeal and value.

Proximity to Work-Related Travel: 9/10

Kips Bay's central location provides unparalleled access to major work-related destinations. The neighborhood is just a short subway ride away from Midtown Manhattan, home to numerous corporate headquarters and office buildings. Several world-renowned hospitals, including NYU Langone Medical Center and Bellevue Hospital Center, are located within Kips Bay, making the area particularly attractive for medical professionals. The nearby United Nations Headquarters also draws diplomats and international business travelers to the neighborhood.

X-Factor: 8/10

What sets Kips Bay apart is its unique blend of residential charm and urban convenience. The neighborhood's tree-lined streets and well-maintained parks create a welcoming atmosphere, while its proximity to major attractions and transportation hubs offers the best of city living. Kips Bay's growing popularity among young professionals and students, drawn to its diverse amenities and central location, further enhances its appeal for short-term rental investors.

Overall, Kips Bay presents a compelling investment opportunity for Airbnb and STR investors looking to capitalize on the growing demand for short-term rentals in New York City. With its convenient location, diverse amenities, and strong potential for returns, Kips Bay is a top place to invest in the Big Apple.

7. Top Place to Invest in New York, New York - Crown Heights

Crown Heights, a vibrant and culturally diverse neighborhood in Brooklyn, has emerged as a top place for Airbnb and short-term rental (STR) investors to invest. With its convenient location, rich history, and thriving community, Crown Heights offers a unique and profitable investment opportunity in the heart of New York City.

Crown Heights Airbnb Market Data:

• Occupancy Rate – 68%
• Average Revenue – $55.9K per year
• Average Daily Rate – $224.1 per night
• Average RevPAR – $157.7

Convenience: 8/10

Crown Heights boasts a convenient location, with easy access to public transportation and major attractions. The neighborhood is well-served by multiple subway lines, including the 2, 3, 4, 5, A, and C trains, making it easy for residents and visitors to explore the city. The area is also within walking distance of various amenities, such as grocery stores, cafes, and restaurants.

Tourist Attractions: 7/10

While Crown Heights may not have as many iconic landmarks as some other New York City neighborhoods, it still offers a range of attractions for visitors. The Brooklyn Museum, one of the country's largest and most comprehensive art museums, is located just on the edge of Crown Heights. The neighborhood is also home to the historic Weeksville Heritage Center, which preserves the history of one of the first free African American communities in the United States.

Things to Do: 9/10

Crown Heights offers a wide array of activities and experiences for residents and visitors alike. The neighborhood is known for its thriving food scene, with countless restaurants and cafes serving cuisines from around the world, particularly Caribbean and African fare. The area also features several popular bars and music venues, showcasing the neighborhood's vibrant nightlife. Crown Heights hosts several annual events, such as the West Indian American Day Parade, which attracts millions of visitors each year.

Average Home Prices: 8/10

According to Zillow, the median home value in Crown Heights as of 2024 is $1,200,000. While property values in Crown Heights have risen in recent years due to the neighborhood's growing popularity, they remain relatively affordable compared to some other areas in the city. The area's mix of historic brownstones and modern developments adds to its appeal and value.

Proximity to Work-Related Travel: 7/10

Crown Heights' location provides convenient access to major work-related destinations. The neighborhood is just a short subway ride away from Downtown Brooklyn and Manhattan, home to numerous corporate headquarters and office buildings. Several hospitals, including Kings County Hospital Center and SUNY Downstate Medical Center, are located nearby, making the area attractive for medical professionals. The Barclays Center, a major sports and entertainment venue, is also easily accessible from Crown Heights.

X-Factor: 9/10

What sets Crown Heights apart is its rich cultural heritage and diverse community. The neighborhood's history as a hub for Caribbean and African American culture is reflected in its vibrant street life, colorful murals, and thriving arts scene. Crown Heights' strong sense of community, with residents coming together for events and supporting local businesses, adds to its unique appeal. The area's stunning architecture, featuring a mix of historic brownstones and modern developments, further enhances its desirability for short-term rental investors.

Overall, Crown Heights presents a compelling investment opportunity for Airbnb and STR investors looking to capitalize on the growing demand for authentic and immersive experiences in New York City. With its convenient location, rich cultural heritage, and strong potential for returns, Crown Heights is a top place to invest in the Big Apple.

8. Top Place to Invest in New York, New York - Gramercy Park

Gramercy Park, a charming and historic neighborhood in Manhattan, has emerged as a top place for Airbnb and short-term rental (STR) investors to invest. With its prime location, beautiful architecture, and exclusive amenities, Gramercy Park offers a unique and profitable investment opportunity in the heart of New York City.

Gramercy Park Airbnb Market Data:

• Occupancy Rate – 75%
• Average Revenue – $64.1K per year
• Average Daily Rate – $233.4 per night
• Average RevPAR – $161.9

Convenience: 9/10

Gramercy Park boasts an exceptionally convenient location, with easy access to public transportation and major attractions. The neighborhood is well-served by multiple subway lines, including the 4, 5, 6, N, Q, R, and L trains, making it easy for residents and visitors to explore the city. The area is also within walking distance of various amenities, such as high-end grocery stores, trendy cafes, and upscale restaurants.

Tourist Attractions: 8/10

While Gramercy Park may not have as many iconic landmarks as some other New York City neighborhoods, it still offers a range of attractions for visitors. The centerpiece of the neighborhood is Gramercy Park itself, a private, gated park accessible only to residents of the surrounding buildings. The park's exclusivity and beauty make it a unique draw for visitors. The neighborhood is also home to several notable cultural institutions, such as the Players Club and the National Arts Club.

Things to Do: 8/10

Gramercy Park offers a variety of activities and experiences for residents and visitors alike. The neighborhood is known for its excellent dining scene, with countless restaurants serving diverse cuisines, from classic Italian trattorias to modern farm-to-table eateries. The area also features several popular bars and lounges, perfect for a night out. Gramercy Park is home to the historic Gramercy Theatre, which hosts concerts and performances throughout the year.

Average Home Prices: 7/10

According to Zillow, the median home value in Gramercy Park as of 2024 is $1,800,000. Gramercy Park is one of the most expensive neighborhoods in New York City, with luxury condos and townhouses commanding top dollar. While the high property values may be a barrier for some investors, the strong demand for short-term rentals in this prime location can generate substantial returns for those who can afford to invest.

Proximity to Work-Related Travel: 8/10

Gramercy Park's central location provides convenient access to major work-related destinations. The neighborhood is just a short subway ride away from Midtown Manhattan, home to numerous corporate headquarters and office buildings. Several hospitals, including Bellevue Hospital Center and NYU Langone Medical Center, are easily accessible from Gramercy Park. The nearby Flatiron District and Union Square are also major hubs for technology and startup companies.

X-Factor: 9/10

What sets Gramercy Park apart is its unique blend of exclusivity and charm. The neighborhood's historic architecture, featuring stunning townhouses and pre-war buildings, creates a timeless and elegant atmosphere. The private Gramercy Park, with its lush greenery and quiet serenity, offers a rare escape from the city bustle. The area's prestigious cultural institutions and upscale amenities further enhance its appeal for short-term rental guests seeking a refined and sophisticated New York experience.

Overall, Gramercy Park presents a compelling investment opportunity for Airbnb and STR investors looking to capitalize on the neighborhood's prime location, exclusive amenities, and strong demand for high-end short-term rentals. While the high property values may be a challenge for some investors, the potential for substantial returns and the neighborhood's enduring appeal make Gramercy Park a top place to invest in New York City.

9. Top Place to Invest in New York, New York - Windsor Terrace

Windsor Terrace, a charming and family-friendly neighborhood in Brooklyn, has emerged as a top place for Airbnb and short-term rental (STR) investors to invest. With its convenient location, beautiful green spaces, and strong sense of community, Windsor Terrace offers a unique and profitable investment opportunity in the heart of New York City.

Windsor Terrace Airbnb Market Data:

• Occupancy Rate – 75%
• Average Revenue – $54.9K per year
• Average Daily Rate – $201.8 per night
• Average RevPAR – $152.8

Convenience: 8/10

Windsor Terrace boasts a convenient location, with easy access to public transportation and major attractions. The F and G subway lines well-served the neighborhood, making it easy for residents and visitors to explore the city. The area is also within walking distance of various amenities, such as grocery stores, cafes, and restaurants.

Tourist Attractions: 7/10

While Windsor Terrace may not have as many iconic landmarks as some other New York City neighborhoods, it still offers a range of attractions for visitors. The neighborhood is located just south of Prospect Park, one of the city's largest and most beautiful parks. The park features a variety of attractions, including the Prospect Park Zoo, the Brooklyn Botanic Garden, and the Prospect Park Bandshell, which hosts concerts and performances throughout the year.

Things to Do: 8/10

Windsor Terrace offers a variety of activities and experiences for residents and visitors alike. The neighborhood is known for its excellent dining scene, with countless restaurants and cafes serving diverse cuisines, from classic American fare to international flavors. The area also features several popular bars and pubs, perfect for a night out with friends. Windsor Terrace is home to several beautiful green spaces, including the Prospect Park Parade Ground and the Greenwood Playground, which offer plenty of opportunities for outdoor recreation.

Average Home Prices: 8/10

According to Zillow, the median home value in Windsor Terrace as of 2024 is $1,100,000. While property values in Windsor Terrace have risen in recent years due to the neighborhood's growing popularity, they remain relatively affordable compared to some other areas in the city. The area's mix of historic rowhouses and modern developments adds to its appeal and value.

Proximity to Work-Related Travel: 7/10

Windsor Terrace's location provides convenient access to major work-related destinations. The neighborhood is just a short subway ride away from Downtown Brooklyn and Manhattan, home to numerous corporate headquarters and office buildings. Several hospitals, including NewYork-Presbyterian Brooklyn Methodist Hospital and Maimonides Medical Center, are located nearby, making the area attractive for medical professionals. The Barclays Center, a major sports and entertainment venue, is also easily accessible from Windsor Terrace.

X-Factor: 9/10

Its strong sense of community and small-town charm sets Windsor Terrace apart. The neighborhood's tree-lined streets, historic architecture, and friendly residents create a rare, welcoming, and intimate atmosphere in a big city like New York. Windsor Terrace's proximity to Prospect Park and other green spaces further enhances its appeal, offering a peaceful escape from the hustle and bustle of the city. The area's growing popularity among young families and professionals also adds to its desirability for short-term rental investors.

Overall, Windsor Terrace presents a compelling investment opportunity for Airbnb and STR investors looking to capitalize on the growing demand for authentic and community-oriented experiences in New York City. With its convenient location, beautiful green spaces, and strong potential for returns, Windsor Terrace is a top place to invest in the Big Apple.

10. Top Place to Invest in New York, New York - Flatiron District

The Flatiron District, a vibrant and centrally located neighborhood in Manhattan, has emerged as a top place for Airbnb and short-term rental (STR) investors to invest. With its prime location, iconic architecture, and thriving business scene, the Flatiron District offers a unique and profitable investment opportunity in the heart of New York City.

Flatiron District Airbnb Market Data:

• Occupancy Rate – 59%
• Average Revenue – $116.4K per year
• Average Daily Rate – $542 per night
• Average RevPAR – $317.8

Convenience: 9/10

The Flatiron District boasts an exceptionally convenient location, with easy access to public transportation and major attractions. The neighborhood is well-served by multiple subway lines, including the N, R, W, 6, and F trains, making it easy for residents and visitors to explore the city. The area is also within walking distance of various amenities, such as high-end grocery stores, trendy cafes, and upscale restaurants.

Tourist Attractions: 9/10

The Flatiron District is home to several iconic landmarks and tourist attractions. The most notable is the Flatiron Building, a triangular 22-story skyscraper that has become a symbol of New York City. The neighborhood also features Madison Square Park, a beautiful public space that hosts art installations, concerts, and food festivals throughout the year. The nearby Empire State Building and Union Square are also major draws for visitors.

Things to Do: 9/10

The Flatiron District offers a wide range of activities and experiences for residents and visitors alike. The neighborhood is known for its excellent shopping, with countless boutiques, designer stores, and specialty shops lining the streets. The area also features a thriving dining scene, with restaurants serving everything from classic Italian fare to innovative fusion cuisine. The Flatiron District is home to several popular event spaces, such as the Altman Building and the Metropolitan Pavilion, which host fashion shows, art exhibitions, and other cultural events.

Average Home Prices: 7/10

According to Zillow, the median home value in the Flatiron District as of 2024 is $2,200,000. The Flatiron District is one of the most expensive neighborhoods in New York City, with luxury condos and townhouses commanding top dollar. While the high property values may be a barrier for some investors, the strong demand for short-term rentals in this prime location can generate substantial returns for those who can afford to invest.

Proximity to Work-Related Travel: 9/10

The Flatiron District's central location provides unparalleled access to major work-related destinations. The neighborhood is home to numerous corporate headquarters, technology startups, and creative agencies, making it a hub for business travelers. Several major hospitals, including Bellevue Hospital Center and NYU Langone Medical Center, are easily accessible from the Flatiron District. The nearby Jacob K. Javits Convention Center, the busiest convention center in the United States, also draws a significant number of business travelers to the area.

X-Factor: 9/10

What sets the Flatiron District apart is its unique blend of history, innovation, and style. The neighborhood's iconic architecture, including the Flatiron Building and the New York Life Building, creates a stunning, instantly recognizable visual landscape. The area's thriving technology and startup scene, anchored by companies like Yelp and AppNexus, adds to its reputation as a center of innovation and creativity. The Flatiron District's chic boutiques, trendy restaurants, and stylish event spaces further enhance its appeal for short-term rental guests seeking a sophisticated and exciting New York experience.

Overall, the Flatiron District presents a compelling investment opportunity for Airbnb and STR investors looking to capitalize on the neighborhood's prime location, iconic attractions, and strong demand for high-end short-term rentals. While the high property values may be a challenge for some investors, the potential for substantial returns and the neighborhood's enduring appeal make the Flatiron District a top place to invest in New York City.