A million bucks for an apartment in New York?

Post by **RogueIce** » 2005-08-10 08:32pm

This thread's article wrote:With the average price of an apartment in Manhattan now comfortably nested over $1 million...

Is this hyperbole on the part of the article? Did it leave something unmentioned? Or is it really that bad?

Chardok · Post by **Chardok** » 2005-08-10 08:34pm

Absolutely true. I work in mortgage servicing. I can tell you it is EXTREMELY common to see co-ops in New York City for well over a million dollars.

Post by **RogueIce** » 2005-08-10 08:36pm

How big of a place are we looking at here? And where? It just said "average" so not a lot of detail. But that's still a helluva an average.

It blows my poor little "plenty of free space still left in Florida despite all of the developer's best attempts" mind.

Chardok · Post by **Chardok** » 2005-08-10 08:39pm

RogueIce wrote:How big of a place are we looking at here? And where? It just said "average" so not a lot of detail. But that's still a helluva an average.

It blows my poor little "plenty of free space still left in Florida despite all of the developer's best attempts" mind.

Not very big. Maybe 1500 sq. ft. Or thereabouts. It's completely insane. Ask Dalton, I'm sure he can vouch for that, too.

Pick · Post by **Pick** » 2005-08-10 08:41pm

I have such a hard time wrapping my head around that, and I'm quite serious.

Chardok · Post by **Chardok** » 2005-08-10 08:45pm

About 621 bucks a square foot. so for 1500sq ft....so that's real close a million. sick, huh?

Post by **LadyTevar** » 2005-08-10 10:02pm

.......
For a moment, I was worried about Nitram's dad who just got an apartment in one of the boroughs so he'd not have to ride a train for 3 hours every morning.

Mrs Kendall · Post by **Mrs Kendall** » 2005-08-10 10:07pm

This is for Appartments!

Man am I ever glad I like smaller towns

Wow, what a waste of money

Sharpshooter · Post by **Sharpshooter** » 2005-08-10 10:20pm

Well, there goes New York as a possible future place of residence...

Dangermouse · Post by **Dangermouse** » 2005-08-10 10:44pm

Indeed. The housing market in New York and New Jersey is so expensive now that some people are buying houses in Pennsylvania and commuting along I-80 and I-78. Its such a fun city too. I wish I could afford to live there.

Post by **fgalkin** » 2005-08-10 10:46pm

RogueIce wrote:
This thread's article wrote:With the average price of an apartment in Manhattan now comfortably nested over $1 million...
Is this hyperbole on the part of the article? Did it leave something unmentioned? Or is it really that bad?

That's absolutely true.

have a very nice day.
-fgalkin

Post by **fgalkin** » 2005-08-10 10:49pm

Dangermouse wrote:Indeed. The housing market in New York and New Jersey is so expensive now that some people are buying houses in Pennsylvania and commuting along I-80 and I-78. Its such a fun city too. I wish I could afford to live there.

That's why smart people don't live in New York. Our apartment on the Jersey waterfront cost about 300G, and is 30 minutes away from the city. It would have cost way over a million on the other side of the river. Plus, I get a view of the Manhattan skyline out of my window. Take that, you Manhattan pig-dogs! there's something you can't buy!

Have a very nice day.
-fgalkin

Stofsk · Post by **Stofsk** » 2005-08-10 11:31pm

Mrs Kendall wrote:This is for Appartments! Man am I ever glad I like smaller towns Wow, what a waste of money

I don't see it necessarily as a waste of money. If you live in the suburbs or even the outer suburbs, house prices go down but your commute time goes up. This isn't a bad thing, but it makes it imperative to learn to drive and own a car and so on. If you live in the city, you can get away with just catching the metro to anyplace you want to go.

I suppose it's a lifestyle choice too. If you live in the city, you can walk 5 mins and hit a supermarket (this was certainly my experience when I was in NYC for a couple days, but someone who actually lives there can confirm it), or a train station or tram/bus stop and so on. And you're likely closer to work too. Some people might like that more than having to spend 15, 30 or 45 mins commuting to-and-from work.

Also, some neighbourhoods are better than others, by 'better' I mean whatever conditions exist that raise prices.

Soontir C'boath · Post by **Soontir C'boath** » 2005-08-10 11:39pm

It's probably one of the reasons why you can see plenty of development in the other boroughs where lots of unused land that's been growing a field of weeds or left alone are now having buildings constructed over it.

Still, if you don't mind being in Manhattan, you can buy my condo for about 325K give or take here in Queens. It's two floors with a living room and a bedroom on the first with a kitchen and a bathroom and on the second floor is another bedroom with its own bathroom and access to a pretty big balcony. Plus, the local trains and buses are nearby. If you don't mind the noise, the upper level 7 train will roar pass every now and then.

Post by **weemadando** » 2005-08-11 01:16am

Man, and I thought that prices for real estate in Hobart had gotten bad.

Down here you pay 500,000 Australian for a nice 4 or 5 bedroom place in a good suburb with views... Or 250,000 for a 2-3 bedroom average domicile. Seriously. Fuck living in the big city. Too fucking expensive.

Mrs Kendall · Post by **Mrs Kendall** » 2005-08-11 09:50am

Who sais if you live in a small town or away from all the busy streets and stuff you have to work in a big city? I know there are more jobs in the city but small towns need emplyees too

Anyhow, I know what you mean, and I just said that I view it as a waste of money I never said everyone else had to see it that way

EDIT: Sorry guys this response was directed at Stofsk

kheegster · Post by **kheegster** » 2005-08-11 11:24am

Studio apartments in London start at about 300,000 pounds (~US$550,000), so the average apartment would be around the $1m level as well. I'd rather take that and build a mansion somewhere else.

Shinova · Post by **Shinova** » 2005-08-11 01:15pm

Yeeesh, and I thought house prices here in California were bad.

1 mil for an apartment?

Hideous.

Chmee · Post by **Chmee** » 2005-08-11 01:18pm

Shinova wrote:Yeeesh, and I thought house prices here in California were bad.

1 mil for an apartment? Hideous.

West coast terminology difference -- apartments you rent, condos you buy ....

What's a 1500 s.f. condo in downtown San Fran or near Malibu going for right now?

Col. Crackpot · Post by **Col. Crackpot** » 2005-08-11 01:44pm

All real estate from New Jersey to Massachusetts has become heinously expensive in the past decade. Shitty, beat up, 1500 square foot houses in outer suburbs of Boston are going for close to half a million. The house I bought in suburban Rhode Island for $173,000 last year is now appraised at $235,000. Sixty fucking grand in a year! All i really did was paint some walls, plant some flowers and upgrade the electrical system.... that didn't even cost me $10K. I'd sell the place, move and pocket the profit, but where the fuck am i going to go? North Nowheresville Vermont? Deer Shit Junction Ohio? fuck no! The population is still growing too, and the home builders still aren't meeting demand. Not even close. So the prices rise.

Chardok · Post by **Chardok** » 2005-08-11 01:55pm

Isn't deershit junction where they filmed Dreamcatcher?

Col. Crackpot · Post by **Col. Crackpot** » 2005-08-11 02:26pm

Chardok wrote:Isn't deershit junction where they filmed Dreamcatcher?

No, that was East Bumfucknowhere.

StarDestroyer.Net BBS

A million bucks for an apartment in New York?

A million bucks for an apartment in New York?

Re: A million bucks for an apartment in New York?