The Jerusalem neighbourhood "Armon HaNatziv" (Talpiyot - East) is located rather far away from the city center; you can find it behind the Promenade and Talpiyot / Arnona. The approximately 15,000 inhabitants of Armon HaNatziv consider their neighbourhood as still affordable, as rents are not that high yet.
According to a legend (it could be also Aggadah or Midrash), it was on top of Armon HaNatziv (maybe where the UN Headquarter is located today) that Avraham spotted out the Tempel Mount (Har HaBayit) when he took his son Yitzchak to sacrifice him. The Temple Mount used to be much higher in ancient times and it was Herod who flattened the mountain in order to build the Second Temple.
View from the Jerusalem Promenade to the old city including the Temple Mount