Abhay, Home Buyer in New York, NY

what are typical prices in the morningside heights area for 1 and 2 BRs?

Asked by Abhay, New York, NY Mon Jul 21, 2008

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I have a contract out on a one bedroom approx 700 sq ft, elevator building, and condo for $205K. It was listed at $225K and I got the deal done. Currently there's a handful of walkups and I advice to stay away from them because walkups are just that walkups and hard to resell if needed. From recent experience the average price per sq feet ranges from approx $292 all the way up to approx $500 per sq ft. The good news, there's blood on the street and sellers are nervous about the next coming year. They have this year to compare and if next year is anything like this year it's a buyers market and sellers are more prone to negotiate. Let's not forget financing, there's great prices out there and our great president is extending the first time buyer credit of $8K which helps!!! I’m here if you need assistance searching for a one or two bedroom and if you need financing I'd like to suggest you contact Patricia Lavigne. Full disclosure: I don't get compensated for any referrals, she's a great broker been in the business approx 17 years. Pat's with Manhattan Mortgage at plavigne@manhattanmortgage.com or 212-745-9012. Have a safe & healthy new year!!!
0 votes Thank Flag Link Sat Dec 12, 2009
our 2007 manhattan market report, prepared by miller samuel... appraiser and consultant... is based on closed sales. It shows (page 57) the 2007 avg price per sq ft for 1 Bedroom co-ops & condos combind at $695 and $541 for 2 Bedroom. This anomoly is caused by the increase in new development construction in that area, which had a focus studio and 1-bedroom. Consistent with most markets the avg price per square foot was historically higher for 2 Bedroom homes, 2004 1BR @ $98 2BR @ $304. We also prepare a quarterly overview. The number for the Uptown Market as a whole, Q2 2008 Co-op @ just under $700 per sq ft. and just over $800 per sq ft for condos. feel free to visit our website for additional information and feel free to email me.
0 votes Thank Flag Link Tue Jul 22, 2008
That would depend on what you are looking for. Condo, co-op, new development, etc. I am working on a new development on West 115th Street called the Delany Lofts (click on the link below to see the listings). We are 70% sold and our developer wants to get the remaining apartments sold ASAP, so call me so we can talk because the prices you see are negotiatble. There are even units with outdoor space. My number is 917-657-6532 and my email is rdaub@warburgrealty.com.
0 votes Thank Flag Link Mon Jul 21, 2008
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