Brick Underground spoke to real estate brokers to get their take on what neighborhoods you should or should not buy in right now. I would say that there takes are interesting and varied.

I would add Harlem to their list both East and West as a great place to find more space for your money. I think going up further uptown to Hudson Heights or Inwood is also desirable because of express subway stops plus parks. For investors, tons of money is pouring into the Bronx especially the South Bronx. It’s just too close to Manhattan to not be expensive and I think you will see a sharp appreciation in time for the next boom.

Where not to buy is not really a simple answer as it really depends on your situation. I think you have to analyze the purpose of your purchase be it investment or primary residence and how long you will live there. I think that making a purchase of $4 million plus you need to look at the location and what you are purchasing very carefully. If the location has a great view like water, or a park or a superior neighborhood like Tribeca or Soho, then you can rest assured your investment will be safe. However, if you are looking at a sizable investment in Midtown around Billionaire’s row you may not see the appreciation that you imagine since that is more dependent on foreign buyers who have receded from the market and the strength of the dollar.