Average price of a Manhattan apartment reaches $1 million

[ringmastery]

http://www.nytimes.com/2004/04/15/nyregion/15price.html?ei=5062&en=3304c2b3e6d4663d&ex=1082606400&partner=GOOGLE&pagewanted=print&position=

The average sales price for an apartment in most of Manhattan rose to $998,905 in the first three months of 2004, surpassing the previous record of $919,959, set in the third quarter of last year.

At a time when economists and homebuyers have been wondering whether a housing bubble is on the verge of popping, the average sales price climbed to a record high, according to the Douglas Elliman Manhattan Market Overview, one of the most comprehensive surveys of the real estate market below 96th Street on the East Side and below 112th Street on the West Side.

[Syrinx]

1. how much does it cost to rent one?

Just curious.

[Andy_Stephenson]

2. First and last months rent of $3000 and

your firstborn child.

[lowreed]

4. About $6/sq foot

[sir_captain]

8. I live in a rent-controlled 1BR apartment

on the upper west side of manhattan, and I pay about $1500/month, not counting utilities. I have about 450 square feet.

I do not have a dishwasher or any laundry facilities. That would cost an extra couple hundred bucks/month easily.

[starroute]

9. When I was a little kid on the Upper West Side

We paid $72 a month for a two-bedroom apartment. By the time we moved in 1961, that was up to $93, because they'd put in a new fridge and stove.

(And we left because the area was becoming a slum!)

It totally freaks me out to think what the same apartment must be going for now. (I bet they've replaced the fridge and stove, again, though.)

[LDS Jock]

3. OMG

and I complained when I lived in California over prices no where near half that. I would LOVE to live in NYC, but the prices. Just can't afford it. :(

[ringmastery]

5. it's really disgusting

a studio apartment can cost $500k and $2500 a month to rent.

When they say the average apartment is $1 million, average is 1br or 2br and rarely over 1000 sq. ft.

Also, there are property taxes and each condo has a monthly maintenance fee which can run into the thousands of dollars.

[Must_B_Free]

6. You couldn't pay me to live in that shithole of a city

[Stephanie]

7. Don't worry

We don't want you.