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New York properties for less than $500,000

Author:MEhome 2019-03-27 439

One point that is rarely controversial is that apartments are too expensive for many New Yorkers. But the extent of its inaccessibility is still sensational.

Studio apartments have always been considered entry-level apartments. According to the Corcoran Group, the median price of Manhattan studios is now $485,000 (about RMB 3.14 million). If this price is not enough to make you look up, think about the situation in Downtown Manhattan. In that popular submarket, the median price of second-hand single-family condominiums reached 86.3 in the fourth quarter of 2015. Ten thousand dollars (about 55.8 million yuan).

However, back to the price of 500,000 US dollars (about 3.33 million yuan). This price can be bought in Manhattan, and it is likely that there is almost nothing but a single room plus a windowless kitchen.

For those who must stay in the city, other administrative districts generally have lower house prices and more spacious homes. However, the cost of living a larger area may be inconvenient to shop, less choice of food, less good school, and longer commuting time.

If you use online services such as nytimes.com/findahome and StreetEasy.com, it is possible to find many existing homes under $500,000 outside of Manhattan. These include Staten Island's Grymes Hill, Sunset Park, and Bronx Spencer Estates.

If you need to have natural light when making breakfast, then relax: there are many kitchens with windows. Most of the listings are somewhat better than Manhattan's same-priced listings.
“We are the last Mohicans,” said Charles Bludeau, a salesperson at Douglas Elliman Real Estate. He represented Spencer Manor's $489,500 waterfront two-room condominium. “Is there anything else to go?”
In Brooklyn, if a community has the word "mountain" in its name, such as Boerum, Cobble Hill, or Vinegar Hill, then it can be concluded that the rent may not be there. Philippines. Names with "highlands", such as Brooklyn Heights, may not be the place to find cheaper listings.
However, in such a community, you can indeed find a single-family apartment with a price below $500,000 and better than Manhattan's same-priced home, but it's not too good.
An example is Room 15A, Room 111, Hicks Street, located in Brooklyn Heights. At the end of last month, the price was $225,000 (about RMB 2.75 million), which has attracted many interested buyers, from paper. On the top, its conditions do not seem to be much stronger. This is a studio apartment whose price is too high in the Brooklyn Heights. According to the Kirkland Group, in this area, including Brooklyn Heights, Coble Hill, Dumbo and Downbrook Brooklyn, the median price of studios in the fourth quarter of last year was $385,000. About RMB 2.49 million).
Then again, this 500-square-foot unit has an imaginative layout, and the kitchen is not just a tool and partition. It is a separate, windowed room and has been renovated. The ceiling has beams and the storage space is considerable. One bedroom may be a better benchmark, and the median price of a one-bedroom apartment in the region is $549,000 (about RMB 3.55 million).
In addition, this yellow brick cooperative apartment building has a lot to offer. Designed by Emery Roth, it was completed in 1929 and was once part of the large Hotel St. George.
This 30-story building is not surrounded by buildings of the same size, but stands proudly in a low-rise community that is protected by historical districts and is not affected by development activities. In Room 15A, the south and east landscapes are unobstructed.
According to Zelda Joseph, the listing's listed broker Zelda Josephs Real Estate, is a long-term resident in the building, she said that the unit with a price tag of $425,000 did not break through 500,000. The price of the US dollar is due to its relatively high maintenance costs, reaching $1005.95 per month (about RMB 6504). According to the information on the real estate website, this fully-equipped cooperative apartment building has an operating budget of about 5 million US dollars (about 32.33 million yuan) per year.
Compared to Brooklyn's studios, the maintenance fee may be a few hundred dollars higher, but "you can't find such a listing in Manhattan," Joseph said. "If you find such a listing in Manhattan, it's The maintenance fee will be much higher."
According to the Kirkland Group, in the fourth quarter of 2015, the average price of a single apartment in Brooklyn was $426,000 (approximately RMB 2.75 million).
However, brokers say that outside the popular neighborhoods of brownstone buildings near Manhattan, house prices will fall, which means that buyers may be rewarded if they go further afield to find listings.
For example, Sunset Park seems to offer a cost-effective trading opportunity. It is close to the Park Slope and has a similar townhouse, but some buildings are somewhat run down. At the end of last month, Room Q, No. 605, 41st Street was listed for sale at a price of US$364,000 (approximately RMB 2.35 million). This is a co-op with two bedrooms and one bathroom.
Homebuyers who like historical details may have a special liking for this unit. The building is a brick building with no elevators, a total of 20 units, completed in about 1921. Its developer is a Finnish company and several cooperative apartments have been built in the area. With a cell area of 725 square feet (67 square meters), the geometric mosaics give the floor a glow. The wallpaper also adds a retro charm, but few people will keep the old kitchen, there is a refrigerator in the kitchen, it is embedded in the wall, completely cooled by the outside air.

Those who want to finance the purchase of a house should take another place. The cooperative apartment side prohibits buyers from looking for bank loans, which is part of the reason for the lower housing prices. “Otherwise, the apartment can be sold for about $550,000 (about 3.56 million yuan),” said Paul Hyun, assistant agent at Douglas Eliman Real Estate, adding that he added. “Finns don’t believe in debt, and property management tends to keep it that way.” Xuan said that if the cash transaction brings a discount opportunity, then the lack of elevators is also. He pointed out that if there is an elevator in the building, this apartment on the fourth floor may be able to sell for a high price of 650,000 US dollars (about 4.2 million yuan). The Statue of Liberty can be seen from the building. However, even if the purchaser has to invest in the purchase of this unit, it is relatively easy to bear the maintenance fee. The maintenance fee is only $311 per month (about RMB 2011). If you consider ownership issues, Manhattan residents may look at the apartment, but in other administrative districts, buying a villa may be more comfortable. The people who buy the villas will not be audited by the discerning cooperative apartment management committee, nor will they have to pay for the unique facilities of the condominiums such as pet spas and junior bedrooms, which they will never use.

On the north shore of Staten Island, on the Grims Mountain near Wagner College, there is a three-bedroom apartment at 32 Cunard Place, and the facilities it attaches may be more popular: a green belt There is a ground pool in the refreshing small courtyard. There is also a covered, elevated terrace with views of the pool.

Tags: new york homebuyers historical detail housing prices paul hyun manhattan residents real estat
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