My first thought is how attached are you the tree. Will it bother you as the tree grows large and wide that you are blocking someones view? I ask this only because you took the time to ask for our thoughts. Maybe a palm tree would fill your need and not block the view. If you do make any changes I would ask your neighbor to pay for it.
There is a magnolia on the golf course behind my house and it does block my view and I wish I could have it replaced with a Palm Tree. It gets very few flowers also drops quite a few leaves which are messy. Just my opinion but if you love your tree then keep it. It is your property!
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