There are 50+ properties in Manhattan and surrounding areas that will be up for bankruptcy liquidation auction in June.

By land area, it's larger than San Francisco, Boston and Manhattan put together.

I am a Verifiable accredited investor/Cash buyer looking for distressed/discounted multi-family (2-4 primarily but will consider commercial 5 units +) properties for mid to long term buy & hold in & near Union County, NJ (Linden, Rahway, Elizabeth, Roselle Park, Roselle) Middlesex County (Woodbridge, Avenel, Carteret, Colonia.)Also I'm looking for a Manhattan studio/1 bed condo/condop/coop-investor friendly unit that permits immediate & unlimited sublets & that can cashflow.

It will be one of the best investments you'll make when it comes your real estate investing.Lastly keep your eye out for our local meetups of BP members in Manhattan.

Felix,As Darren mentioned, NYC and in particular Manhattan are much tighter markets than the rest of the country.

Amazon, Apple, Facebook, and Google have 22,000+ office employees in NYC alone, and the sector is by far the biggest job growth engine in Manhattan. 

Just to give you a background story I currently live in NJ and work in Manhattan, and im renting.

For these markets, I really like places like Redondo Beach, Hermosa Beach, Manhattan Beach, El Segundo, Torrance, Playa Del Ray, and maybe parts of Long Beach and Hawthorne.

But, if you attend a Brooklyn, Manhattan or Queens REIA I bet you'll at least get some support from experienced local investors.

or rather, look where it does not:  Manhattan, San Francisco, Seattle, Miami beach, La Jolla CA, and pretty much the more expensive areas of any other city.