Home Buying in Chinatown>Question Details

zurio, Home Buyer in New York, NY

Is it realistic to find a cheap place in Chinatown?

Asked by zurio, New York, NY Mon Jul 2, 2012

I'm Chinese and saved up some money and would like to buy in Chinatown e.g. Bayard Street. Is it possible to buy something around the 200-250k amount? Or what would be a reasonable low cost? I don't need a big apartment. Just a 1 bedroom with own bathroom and kitchen. Is there good availability at this end of the market?

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That's a great question! Right now, the lowest priced apartment in the Chinatown/Little Italy area is a co-op listed for $480,000, which is "cheap" when you consider that the average price for a Manhattan apartment is $1.4 million. A little farther uptown might find you better deals. For instance, one of my listings is a 1BR apartment in the Upper East Side neighborhood known as Carnegie Hill. You can see details here: http://www.bondnewyork.com/nyc_apartment_listing_168769.htm

Please let me know if you have questions, or would like to see some apartments in person!

Best regards,
Bruno

--
Bruno J. Navarro
Licensed Real Estate Salesperson
BOND New York Properties, LLC
1776 Broadway, 19th Floor
New York, NY 10019
347.725.0944 mobile
212.804.8948 direct
270.675.9195 fax
bnavarro@bondnewyork.com
http://NYCApartmentAgent.com
1 vote Thank Flag Link Mon Jul 2, 2012
Hi Zurio!
It is not realistic to find a one bedroom apartment in Chinatown for $250,000. You can find a alcove studio for $360,000 and up, or the lowest price for a one bedroom is one apartment in Park Row for $488,000.
If you need more information contact me.
Best regards.
Veronika Baba email:Vbaba@kianrealtynyc.com
phone:347 528 5573
1 vote Thank Flag Link Mon Jul 2, 2012
Rising Real Estate Prices Remake New York's Chinatown
http://www.voanews.com/content/rising-real-estate-prices-rem…
0 votes Thank Flag Link Tue Dec 31, 2013
Hello Zurio the cheapest listing available right now for a one bedroom is listed for 369k. Any other areas that you would consider let me know I'll send you the listings thanks
0 votes Thank Flag Link Tue Feb 26, 2013
Suggest you contact a local Realtor, start a relationship today and they can show you what is available that meets your search criteria. Are you pre-approved with a lender? If not, that should be any buyers next step in today's market.

Good luck in your search.

Spirit
0 votes Thank Flag Link Tue Feb 26, 2013
The biggest misconception about Chinatown is that it's cheap to live here - See more at: http://www.brickunderground.com/blog/2013/02/chinatown_is_th…
0 votes Thank Flag Link Tue Feb 26, 2013
Hi Zurio,


I have a 1 bedroom, just a bit East of their, asking $285,000! Please give me a call at 917 414 5093.
Why don't you come see it and make an offer?

Sincerely,

Peter Howard, Associate Broker
Charles Rutenberg Realty
127 East 56th Street, Fourth Floor
New York, NY, 10022
0 votes Thank Flag Link Mon Jul 2, 2012
If purchasing with a mortgage, visit with any licensed loan officer; be aware that a mortgage pre-approval letter is required in order to determine your price range and for any offers to be taken seriously. Also consider working with an agent of your own, he/she can provide suitable listings, any necessary information, schedule showings, keep you informed as new properties emerge onto the market, etc.
0 votes Thank Flag Link Mon Jul 2, 2012
I have some nice properties you may be interested in . My name is Marinel and I can be reached at 212-714-1027 ext 15. I would be happy to assist you. Thank you and good luck.
0 votes Thank Flag Link Mon Jul 2, 2012
Good Morning, Zurio! In order to see what a one bedroom is going for in the area you desire to live in you need to look at comparables. You can find that information online in the New York Times. On the realestate page of the website you will find on the right hand side a title that reads Miller Samuels. If you use that function, you will find places with your criteria using the location information you spoke about. If you need assistance, please feel free to contact me. Traci
0 votes Thank Flag Link Mon Jul 2, 2012
So it seems 300-400k is a more likely amount? I was wondering about the 250k properties on trulia and whether they were genuine or not... Thanks.
Flag Mon Jul 2, 2012
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