How Much Does a One Bedroom Apartment Cost to Buy in NYC?

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So, how much does a one-bedroom apartment actually cost to buy in New York City? Well, we'll go through a number of examples in today's video. I'm Nick at Hauseit, we are the largest For Sale By Owner and Buyer Agent Commission Rebate company based here in New York City, established in 2014. So, let's get started.

So, how much does a one-bedroom apartment cost to buy in New York City? Well, based on our research believe it or not there are a number of different price points for a basic one-bedroom apartment. In fact, you can buy a one-bedroom apartment in New York City for as little as $200,000 and for as much as $5,000,000 and yes that is $5,000,000 for a one-bedroom apartment. So, let's go over a few examples of what you can buy here in New York City if you're looking for a one-bedroom apartment.

First up is a 1-bedroom condo in the Flatiron District of lower Manhattan. Now, this is a new construction condominium and in addition, this is a higher floor unit with pretty much unobstructed skyline views of the city. Now being a new construction full-service building you can expect to have all of the amenities you would look for in a building of this caliber such as a full time doorman, a laundry room as well as an outdoor space concierge, as well as a live-in super, there is also bike storage and a fitness center. Now, this one-bedroom apartment asking $1.2 million is approximately $1,700 a square foot.

Now, let's hop over to the Upper West Side. This particular listing is an over-sized one-bedroom co-op so not a condominium. We'll talk more about that in another video, but this unit is asking approximately $950,000. Now this building is a boutique pre-war cooperative building and it is not full-service so don't expect your full-time doorman or cold storage or concierge or fitness center as you would with that previous listing in Flatiron, but this is a great apartment particularly because it's a co-op so it's less expensive it's quite spacious it's actually converted to a quasi-two-bedroom. There's a second sleeping area and a windowed office so it's a very stately one-bedroom apartment.

Now with coops, we don't usually quote price per square foot because coops do not have official square footage figures. However, this particular property if we were to do the ballpark math is probably closer to a thousand dollars a square foot which is significantly cheaper than the $1,700 a square foot figure for that premium new construction condo in Flatiron.

Up next is one of my favorite apartments. Now, this is a classic starter apartment pre-war loft apartment in Park Slope, Brooklyn. So think of tree-lined streets brownstones as far as the eye can see and in the apartment itself, you have original white plank hardwood flooring, tall ceilings as well as other nice pre-war details, incredibly low maintenance and this property is priced around $600,000.

So if you think about it, this property is less than half the price of that condo in Flatiron but many people would actually prefer this apartment it's in a quieter part of town, it's beautiful, its historic and pre-war and it has a timeless charm that no new construction can ever match and it can be yours for just $600,000. Even better, the maintenance what you would pay on the property after you've paid off your mortgage for example is just $370 a month, so if you bought this property all cash you'd obviously not have a mortgage payment and you would literally only have to pay $370 per month for your housing expense here in New York City.

Up next is a newer construction condo building in Chelsea. Now, this one-bedroom apartment is fairly standard and cookie-cutter. It's a nice condition because it's a newer building the property itself sold for $800,000 fairly recently. This is priced at $1,550 a square foot, so cheaper than the Flatiron condo that we looked at but considerably more expensive than the Upper West Side oversized one bed. Up next is another neighborhood in lower Manhattan. Specifically, the Financial District. The Financial District currently is much less expensive and pretty much every other neighborhood in lower Manhattan as evidenced by this fairly nice one-bedroom condo which recently sold for approximately a thousand dollars a square foot.

Save 2% When Buying in NYC: https://www.hauseit.com/hauseit-buyer-closing-credit-nyc/
NYC Buyer Closing Cost Calculator: https://www.hauseit.com/closing-cost-calculator-for-buyer-nyc/
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