Wednesday, October 15, 2003

This Just In

The real estate market in Manhattan is crazy!! From the New York Times:

"The average price for studio apartments was $303,895, up by 17.4 percent from the $258,826 price in the same period last year. One-bedrooms sold for an average of $471,531, an increase of 12.6 percent above $418,607 in the third quarter last year.

In two-bedrooms, the average price was $1,073,966 (this doesn't make that $919,959 look so bad, right?). This was an increase of 6.2 percent over the average two-bedroom's price of $1,011,790 last year.

The only sellers who did not hit the jackpot were those peddling three-bedrooms. There, the average price was $2,468,286, down by 3.3 percent from $2,553,537 last year."

I went to Josh's new $400K 1-BR apartment last night for dinner. While it's a pretty new and spacious apartment in a fancy looking complex, it's still a one-bedroom apartment!

This city is crazy.