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September 24, 2007
brownstone chelsea
We are currently looking at purchasing a 350 sq. ft. fourth floor walk up apartment in Chelsea. They are asking for about $1000/sq.ft Does this seem reasonable considering today's market?
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Yes, apartments are still selling for around that price in Manhattan (or higher). It's stupid to pay that much, but that's how much they are selling for.
Posted by: guest at September 24, 2007 9:02 PM
I think okay purchase prices can be found in Manhattan. Parts of Brooklyn are $1,000 per square foot. It's the monthly fees and property tax that's the killer. It's at least twice as much in Manhattan for monthly coop maintenance fees. You will need to look at your monthly fees for the time period you anticipate you'll own the place, as if they are a mortgage.
Posted by: guest at September 24, 2007 9:56 PM
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