Affordable real 3 bedroom??

Start with http://www.streeteasy.com/nyc/sales/manhattan/price%3A-900000%7Cbeds%3E%3D3?sort_by=price_desc.

Having looked in that price point for a long time I would say 100th st and up in Manhattan and various neighborhoods in Brooklyn if you're looking for large rooms, a second bathroom, solid construction and reasonable maint. You may find an apat. requiring reno lower in Manhattan but not very likely.

Hudson Hts. If you're a real pioneer, Harlem townhouse. Downtown - LES Coop Village (check out lohorealty.com).

Have been doing the same search myself for over 6 months now, probably will not pull the trigger for at least another 6 months.

Hudson Heights- above 180 and west is a decent neighborhood around Cabrini, I hear the schools are good as well. Can get 1,500 square feet in this price range
Morningside - not there yet, but prices seem to be getting closer, I imagine in 6 months $900,000 will buy you a real 3 bedroom
UWS - Maintenance starts to get a little more expensive here, and prices still above this range. In 6 months you can probably get a smaller 3 bedroom, maybe 1,100 square feet
Lower East Side - can get 3 bedrooms now, but not a big fan of the location
UES - still too expensive, maybe Yorkville will get in this price range in 6 months to a year
Not sure the market is ever going to get there for Chelsea / Hells Kitchen / Murray Hill except for the occasional one off, ground floor and other deficencies

Brooklyn
Ft. Greene / Clinton HIll - already there, can get 1,400 square feet for under $800,000 in good parts of each; but still a bit of a fringe neighborhood and recent downturn is not going to help. There are some really nice brownstone streets though in the historic areas
Park Slope - Pretty much there
Carroll Gardens / Cobble Hill / Boreum Hill - Great locations, prices have not dropped as much as you would have expected yet, but I imagine it is only a matter of time. I think, within 6 to 12 months, you can get a full sized 3 bedroom (1,400+) square feet for $800,000 to $900,000

dcorreale, your list is great. the only thing that I would add is that I do think that Murray Hill/Kips Bay/Tudor City may (and probably will) get there. Chelsea, particularly non-prime, as well. HK didn't have a tremendous amount available pre-bubble, so probably not.

What really pushes price realignment is people really having to sell with room to do so. At some point those buyers just undercut the market to get the deal done, and the declines speed up. So, I think Yorkville and other non-prime areas of the UES may get there sooner rather than later as well.

Thanks guys, that's helpful info!

It sounds like the mindframe out there is that prices will continue to decline in most areas, even for 3 bedroom apts, for which supply is more limited.

I second dcor's suggestion of Cabrini Blvd and environs in Wash Heights. One of the most spectacular river views I've ever seen was in a generously-sized, beautifully laid-out pre-war 3-br at 360 Cabrini. Just stunning.

dcorreale, I only see a couple 3BRs in Park Slope for under $1M. Are there more that are not on SE?

Starfish, it is just about there in park slope, of course the asks are still a little higher, but I think what is actually selling would suggest it is falling into the above price ranges. You can check NYTimes realty, about 50 come up with the parameters of 3 bedroom, park slope and under $1 million. Of course many of these properties have their issues, whether it is the glut of new construction around 4th avenue or 1street, or they need some renovations. But I expect the prime park slope, i.e. north of 6th or 7th street, whereever the PS321 cutoff is, and east of 4th avenue, to be in this price range as well within a year.

thanks, dcorreale. The prices seem to have gotten pretty far out of control in PS. When we were looking to buy in 2006, we couldn't find anything there within reason.

5SL toll brothers in Long Island City (1 stop to grand central on the 7 train). They had a 3 bedroom (1,545 square feet) that went into contract recently with listing price at 880K. I'm sure the unit sold for low 500s per square foot. They have another 3 bedroom with current asking price at 940K now. I'm sure this could be sold in the mid 800s if you like.

ericho75, any thoughts on the neighborhood for families. I left LIC and Williamsburg out above because I am not sure I would want to raise a family in these areas, which is often why one buys a 3 bedroom. I would love to hear differing opinions on this point, as the LIC 10 minute commute to work is enticing, but I do get sense that these areas would have worked better for me 5 - 10 years ago, single with a night life

Forest Hills, Queens.

ali r.
{downtown broker}

I've lived in LIC for over 6 years and it has changed drastically. What used to be a 2 building neighborhood has now become a full community. I got married and now have a 3 year old son during this period of time. There are now 2 full time daycare centers (Little Ones & LIC kids), a supermarket and Duane Reade. A number of friendly family restaurants have also opened. Most of the new developments have their OC and tenants are starting to move in. Last month, i heard both the rental buildings in EastCoast and Avalon have 95% occupancy rate. There are now tons of kids in the neighborhood. The gantry park is by FAR one of the best water front parks in the tri-state. During the summer months they have free musical performances by the piers. The good thing about this area is the lack of traffic in comparison to Manhattan. You will not have much bystander walking by or folks driving through your community to get to other areas. I find this to be a HUGE plus if you want to raise a young family. Prices in LIC are now in the mid 500s to low 600s per square foot, which are very affordable. If the prices are right, and it make sense to you and your family i think it's a good time to buy.

Where do LIC kids go to school?

I agree with ericho75. I have friends who have been living in LIC since about 2000. They have kids and there are tons of children in that neighborhood. There's not a ton of car traffic and the parks are lovely. New construction was a bitch for a while, but I think that's largely over.

We gave up the NYC search during 2004 and moved to Bronxville. It is lovely and only a 29 minute train ride to Manhattan. The prices are so much cheaper. You don't have the pay the NYC tax. There are many parks and if you live in the Bronxville Village (rather than just having a PO Box) you get the schools and Lake Isle (a public pool, tennis and golf club).

If interested, I can give you the name of a Real Estate Broker that I trust.

In case you are interested, we have our large 2 bedroom on the market. A previous owner removed the third bedroom to make a large eat-in kitchen (not sure why b/c there is a formal dining room). The apartment could be made back into a 3 bedroom and completely renovated the kitchen for less than $50,000. You would have to see the apartment to understand how it was originally configured. There are pictures at http://www.postlets.com/rem/p1934446.

With an asking price of $799,000. You would be well below your $900,000.

"Where do LIC kids go to school?"

I'm planning on sending my son to PS 78. The school has one of the lowest teacher to student ratio in all of NYC. I've spoke to many parents that have their kids in Pre-K and Kindergarden and they all rave about the school and quality of the teachers there. EastCoast will be building a new state of the art Junior High in the neighborhood that might open in the fall of 2011. The school is one of EastCoast's requirements prior to them obtaining this area of land. In regards to high school which is a good 10 years away for my son, i'm expecting him to attend one of the 3 specialize high schools in the tri-state area (Stuyvesant, B. Science, B. Tech).

I've heard very mixed things about 78. There are, however, G&T options in Queens (not as many as there should be) and you could pay for private with the money you save...This year the DOE added 217 on Roosevelt Island to the list of G&T options for that district, which might work out well over the long run.

dont rule out my nabe - williamsburg. great pre-schools-williamsburg northside, new montessori and wnns. and the district has 3 great schools - 132,31 and 34. ps84 has excellent prek and k and a new dual language program. new charter shows promise and there's st.nicholas for a catholic school. middle school is terrific. huge baby boom here. go to the yahoo group brooklynbabyhui - wonderful supportive people. in my condo of 36 apts, there's 15 kids and 2 pregnant women. proximity to manhattan allows for access to schools in east village and chelsea. we used a chelsea daycare for 2 years. mccarren park has a gigantic playground and they just added 120 or something trees. 50 million dollar pool renovation underway. north williamsburg has zero projects and has low crime - think it's precinct 94? very good stats. good luck!

Wisco,
What are new development 3 bedroom (1,500 square feet) going for in the best area in Williamsburg?