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Kid Buys Harlem Two-Bedroom for $95,000

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Welcome to It Happened One Weekend, our weekly roundup of The New York Times real estate section...

Every "The Hunt" column begins with the Hunters describing the apartment they want, and ends with them rationalizing whatever they came away with. This is The Hunt: Dreams vs. Reality
The Hunter: a recent graduate looking to buy
Price
Dream: $300,000
Reality: $95,000
Neighborhood
Dream: Manhattan
Reality: Harlem
Amenities
Dream: 1BR, short Midtown commute
Reality: 2BR, fixer-upper, short Midtown commute
Summary
This week's Hunter is a recent grad from Connecticut looking to buy in Manhattan. With a budget of $300,000, he started looking at one-bedrooms with a maximum commute time of 30 minutes from Midtown. Amazingly, he managed to find an income-restricted two-bedroom co-op in Harlem asking $90,000 (in cash). Despite needing a lot of work, he quickly snatched it up last summer with help from his parents (obviously), paying $95,000 plus an extra $70,000 in fees, taxes, and construction costs. [The Hunt/A Foothold in the City; photo via mtkr/Curbed Photo Pool]