The bottom tenth of the New York City real estate market has a median sales price of $160,000?a number that won't surprise anyone who keeps up with the quarterly market reports. Today the Journal looks at some of the properties that make up that bottom 10 percent, including the above place on 125th Street, which is asking $85,000 (the catch: the buyer's income must be under $80,000).
So what's the least expensive property right now in all
the land NYC? A 1BR co-op in the Throgs Neck neighborhood of the Bronx. The rundown apartment?no heat, no water, no electricity?is asking $19,900 after almost three years on the market. Prospective buyers were required to submit architectural plans for how they'd fix the place. Good news: someone successfully did, and the apartment is on the verge of going into contract.
· Picking Over the Low End