Skipping the debate over pronunciation of "Houston"... While London has it's SoHo, and is unique in its own rite, the New York version has been largely known for its art galleries and loft spaces. It really came into its own as a "section" of NY in the 60's and thereafter, as affordable housing space and gallery stock began disappearing to the North. Just South of the pricey "Village" and NYU-land, and "South of Houston Street" (SoHo), an artist's enclave sprung up and is today a vibrant area with galleries, shoppes, etc.. Situated in between Washington Square/East Village and the further-South Financial District, it's a nice place to stroll, and for art lovers might make for some interesting browsing of "new" artistic works.
Beyond that, there's no single 'hot spot' that I'm aware of, just a section of New York there to be visited/enjoyed, and home to many artists.
This review is the subjective opinion of a TripAdvisor member and not of TripAdvisor LLC