1/2BR Flex $1MM in Midtown/Downtown?

Started by jbg

over 10 years ago

Posts: 6

Member since: May 2011

Discussion about

Hi there, I've just started an apartment search in manhattan and wanted to gauge if my expectations would be realistic. I would ideally be looking for a place around the $1MM purchase price, with 20% down in a developing location in manhattan (perhaps fidi). Ideally, I would like to reside in one of the bedrooms and rent out the second, probably converted, bedroom. I currently live in Fidi and am definitely favorable to this area as well as the downtown market. Is my ask too optimistic for the current market?

Response by fieldschester

over 10 years ago

Posts: 3525

Member since: Jul 2013

How old are you?
Where did you move here from and how recently?

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Response by jbg

over 10 years ago

Posts: 6

Member since: May 2011

Hi there,

I'm 26 and have been working in the city/renting for the past 4 years, after going to college here.

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Response by dan@digsrealtynyc.com

over 10 years ago

Posts: 114

Member since: May 2012

You will be very limited in the Financial District. There are a couple 2br units for under $1MM (a new one actually just came online today at 65 Nassau St), but they are co-ops and you will likely need a condo if you want to rent out one of your rooms, as many co-ops will have restrictions on that sort of thing. If you want to stay in Manhattan, you’ll likely have to search above 96th Street for a 2br condo in your price range.

1/2BR Flex $1MM in Midtown/Downtown?

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