"Average"-priced apartments are the middle children of the New York City real estate market?often overshadowed by high-end headliners on one side and more affordable but still appealing places on the other. Welcome to Taking the Average, a new Curbed feature in which we'll explore what's available in a particular neighborhood at the area's average price (as determined by market reports). Up today, Manhattan (and mostly the East Side).
As we await the third-quarter market reports in the next few weeks, there's still a bit of market-watching to be done with the numbers from the second quarter. As of the end of Q2, the median apartment sales price in Manhattan was $865,000 (with a quite reasonably higher $1.395M for new development). So what does that price get us at the moment? A lot of units on the East Side! We paged through StreetEasy for available listings in that price range. Above, we have a 1BR, 1BA asking exactly $865,000 at 304 East 65th Street.
Apartment 4C at 1635 Lexington Avenue is a sponsor unit asking $866,800. The apartment is a 2BR with a private balcony, 10-year tax abatement, and building amenities including a common roof deck and "glass overlook on every floor." In other words, it has the look and layout of a standard new development apartment, but the East Harlem location means the pricing is substantially lower than a new 2BR in many other neighborhoods.
At 240 East 35th Street, this eleventh-floor apartment is currently at 2BR, asking $860,000, but could "easily be converted" into a 3BR. Since that third bedroom would take up only the space currently occupied by the dining room, it might be more of an office or a small child's room, but there are surely buyers who'll see the appeal in that at this price. The monthly maintenance is another $2,143, though.
Finally, for a little bit less money and on the west side, is apartment #5N at the Broadmoor, at 235 West 102nd Street. The apartment is currently set up as a 2BR, 2BA, but it's being marketed with an alternate floorplan that would add a small third bedroom. Asking price: $859,000.
· Taking the Average archive [Curbed]
Loading comments...