Since there's nothing as bracingly refreshing as being reminded that we live in the greatest yet craziest city in the world: Studio apartments are now costing over $1 million in some parts of Manhattan. The New York Times devoted a Sunday Real Estate feature to the phenomenon, which is being led by the Richard Meier-designed condo apartments at 165 Charles Street (studios at $1.2-1.325 million, for around 700 square feet, with a 13 square foot kitchen, which does seem as big as so one bedrooms but still). One real estate agent for another listing with expensive studios says, "For people who come into town and want to own a piece of Manhattan and not necessarily purchase a three-bedroom, this is perfect for them." Sigh, perfect for people with pied a terre means but what about people who are looking for a primary residence? It just means more pricing out of Manhattan. Gothamist does understand the desire of people to own a little piece of Richard Meier for a cool price that's under the usual "price per square foot" but come on.
The Daily News shows some residences bigger than a studio that are comptetively priced, such as a two bedroom co-op on Jane Street and a four bedroom house in Rego Park, Queens. The owner of the Queen house says, "It's a nice neighborhood, very quiet. It's just the opposite of Manhattan." Touche.
Gothamist knows that Curbed will offer its real estate obsessed opinion. And the average price of Manhattan apartments is now $1 million.
Photo from Wired New York's information on 165 Charles Street
