The Million Dollar Apartment - A Dying Breed!

Oh, there are plenty of $1MM apartments -- you just have to be happy with a 1BR. ;)

and to live somewhere other than Greenwich village...

>and to live somewhere other than Greenwich village...

Thank you Kyle. Thank you. Finally pointing out the bright side to the market - that most of the better, non NYU infested areas are actually cheaper and definitely more attractive than areas that have for the past 30 or so years (and not much longer) had premium valuations. Obviously if you are a NYU professor or New School professor , or Bryan Singer, etc. this doesn't apply to you, but the good news is that Manhattan is a fairer place to buy and live.

The consumer profiled in the story seemed to have a big appetite: she wanted to jump three rungs up the ladder: (move from a one-bedroom to a two-, move from a one-bath to a two-, and move downtown) ... all for the same price.

It sounds like she was willing to give up sunlight, but as she found out, that doesn't get you three rungs, it gets you two.

ali r.
{downtown broker}

Right. Looking at the 95 2/2s now available under $1,000,000, it's easy to see why they're that cheap.

For about half, it's accounted for by the usual neighborhood/condition/exposure (ground floor, no light, etc.) issues.

Lots of the rest have high (e.g. more than $4,000) maintenance and/or are land-leases, so really are more than $1,000,000 and fall out of the mix.

At some point, it just becomes ridiculous to make sacrifices at that price. Screw Manhattan. In Brooklyn a million bucks enables one to live like a grown-up: http://streeteasy.com/sale/1066132-house-3043-avenue-r-marine-park-brooklyn

i found it amusing that the lady is listing her one-bedroom for almost 1M and she wants to get a 2bed 2 batch for the same price range.