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In New York City real estate, the quest for the next hot neighborhood never ends. But spotting an area that is on the rise before it becomes the next big thing is no easy call. The arrival of a farm-to-table restaurant doesn’t guarantee the neighborhood has turned the corner. Nor can buyer interest change a run-down area overnight. Just because gentrification is happening doesn’t mean crime drops precipitously. It’s a process. But buyers who seek the next “it” neighborhood, rough edges and all, would do well to take their cues from developers and smart agents.
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