Both of these neighborhoods have their pluses. Novokuznetskaya - it is almost the centre of Moscow (South of the Central District of the city); Kremlin, Moskva River, tons of museums, galleries, restaurants can be found nearby. Elektrozavodskaya (Eastern District) - old industrial neighborhood of Moscow with Yauza River and interesting mix of soviet-futurism & imperial architectural styles. There are also a lot of universities situated there, so students can be seen everywhere.
So, it's up to you.
P.S. As for me - I'd choose neither of them. Northwest Is The Best!!! =)))