Average price for Manhattan apartment over 1.1million dollars

[touchmeinthemorning]

Posted: 1/5/06 at 10:38am

"The average price of a Manhattan apartment rose 3.3 percent from the prior quarter and 20.3 percent from 2004, to $1,187,404. The median Manhattan apartment price inched up 1.3 percent from the third quarter and 25.6 percent from the prior year, to $760,000, according to the Prudential report."
link to full article

[Patronus]

Posted: 1/5/06 at 10:44am

Things to Do:
- Buy a Lottery Ticket
- Take up religion/prayer
- Rob a Bank

[Jane2]

Posted: 1/5/06 at 11:37am

Isn't it ridiculous? I'm just always wondering where all these rich folk are coming from to be able to afford this! NY is one big rich people town.

[WithoutATrace]

Posted: 1/5/06 at 11:39am

i guess i'm going to be renting my whole life

[SonofMammaMiaSam]

Posted: 1/5/06 at 11:39am

unless you land an old geezer to support you.

[WithoutATrace]

Posted: 1/5/06 at 11:48am

are you offering?

[Jane2]

Posted: 1/5/06 at 11:49am

"unless you land an old geezer to support you."

LOL, what if you ARE the old geezer!

[SonofMammaMiaSam]

Posted: 1/5/06 at 11:50am

I guess I am. Damned birthday.

[Jane2]

Posted: 1/5/06 at 11:58am

No, I meant me, silly! I'd never call anyone else an old geezer!

[WithoutATrace]

Posted: 1/5/06 at 12:00pm

i'll be an old geezer in 30 years

[SonofMammaMiaSam]

Posted: 1/5/06 at 12:02pm

and homeless!

[tacos are great]

Posted: 1/5/06 at 12:43pm

Jeez. The average price of a large *house* where I live is $45,000....

[gavrochegirl]

Posted: 1/5/06 at 12:47pm

Ouch.

[justme2]

Posted: 1/5/06 at 1:20pm

come to SF...oh, wait...we are just as bad out here.

[JailyardGuy]

Posted: 1/5/06 at 2:14pm

San Francisco is *crazy*. when I moved there in 2000, it took me two months to find a studio...at $2,350 a month. NUTTY. I finally said "screw it" and moved to Walnut Creek.

[PalJoey]

Posted: 1/5/06 at 2:23pm

This "average" comes up all the time and it's misleading. Real estae professionals point out that New York has a disproportionately larger number of high-price apartments, and these apartments skew the average higher.

[touchmeinthemorning]

Posted: 1/5/06 at 3:16pm

well, with the median at 760K, I think it still boggles the mind.

[justme2]

Posted: 1/5/06 at 3:37pm

Crazy SF is RIGHT, Jailyardguy. I'm a native here and things were ok up until 1999-2000- then all those DotComs came in and completely ruined the market. I went from paying $600 for a 1 bedroom apt to $1,495 for the same square footage. IN ONE YEAR!

Then, when the Dot Com's crashed (and all those POOR millionares were crying on the news about how they were having their mansions foreclosed on now), we all waited for sanity to return.

It never did.

$760,000 will buy you a crack house in the East Bay. 1 Bedroom, no parking - BART in your backyard.

[melissa errico fan]

Posted: 1/5/06 at 4:02pm

Thank God I'm rent controlled!

[JailyardGuy]

Posted: 1/5/06 at 4:15pm

I was one of those whining dot commies. Too bad I didn't have more sense than money...I might not be living in Outer Brooklyn right now.

My partner and I moved from Walnut Creek back to the city shortly after I got my first bonus, and we had to sell our place in Pac Hts about two years later (of course, we were also in the process of bitterly dissolving our pathetic sham of a relationship, so it would have happened anyway). We paid about 40% too much for it, and didn't do so well in that little deal...it's kind of horrifying how it never recovered, though. After the crash, I moved back to the East Bay and was kind of shocked at how much prices had gone up in CoCoCo in just under 2 years...kind of nutty.

[justme2]

Posted: 1/5/06 at 4:19pm

I dream of rent control, MEF. SF has it somewhat, but the landowners have so many loopholes in the laws that the serfs are evicted anyway.

I remember a popular loophole they used when the dot coms were in the money:

We are getting out of the renting business, so you are all evicted and we are moving in.

Two months later:

We changed our mind, we now want to move out and rent to serfs again. By the way, the rent will be increased from 1,000 for the closet unit to 2,000.


They still do that trick today; SFgate just ran a story regarding the rise in evictions yesterday.

[xM3L24x]

Posted: 1/5/06 at 6:03pm

this is why I need to marry someone rich. I already have my eye on this boy in my grade who has six houses-- including an apartment in NYC.

[Mr Roxy]

Posted: 1/5/06 at 6:15pm

$ 999,999.00 I could afford

1 million is over my limit

[ihearttheatre]

Posted: 1/5/06 at 6:27pm

Wow. Those prices are insane.