East Village

Whether you associate the East Village with immigrants and tenements or artists and punk rockers, the once grungy area has scrubbed itself up and emerged as one of the most desirable neighborhoods for the under-30 set.

Though the nabe still pulses with nightlife -- mostly of the bar and restaurant sort -- and walkups and tenements still constitute much of the real estate, the East Village gets glassier by the year. New construction is largely of the boutique sort -- though notable exceptions include the 77-unit Toll Brothers' condo, One Ten Third and the 21-story Gwathmey Siegel-designed Astor Place (445 Lafayette St.), where prices started at $3 million, a neighborhood record -- and attracts increasingly well-to-do buyers.

Nothing quite illustrates the transformation of the East Village like the makeover the once-gritty Bowery has received. Formerly downtown's version of Skid Row (and an incubator for punk rock -- until legendary club CBGBs closed in late 2006), the Bowery is now cleaned up and boasting a spate of new condos -- including 57 Bond Street, a 2003 loft project that led the pack -- as well as upscale rentals like Avalon Bowery Place (11 E. 1st St.).