Surprising Real Estate Deals In New York 2022
The New York City metropolitan area is a very interesting and dynamic housing market. This is due in part to the large size of the population and the numerous different neighborhoods in the city. Also, the “Big Apple” has many different types of housing, ranging from small co-op apartments to very large mansions.
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As in other major cities, the New York City housing market became abnormal and negative for most of 2020 and 2021 due to the COVID situation. In 2022, the housing market is starting to become more normal and healthy again. However, there has been a downward pressure on prices because there is now less overall demand, as many people have left or are looking to move to suburban areas. There also appears to be somewhat of a “buyers market”, as supply is slightly larger than demand. However, this market has always proved to be resilient, and housing prices are expected to keep increasing.
The recent median sale price was $830,000 for all types of housing in the metro area. The median list price of homes was $895K, demonstrating the existence of a some-what buyer’s market. Homes are selling at a moderate speed, with the median days on market being 126 days which is slightly less than last year. Tribeca is the most expensive neighborhood, based on a median listing price of $3.6M. Meanwhile, Riverdale has a median listing price of $360,000, making it the least expensive neighborhood in New York City.
The following are some examples of recent residential real estate deals in New York City.
Modern Manhattan Studio
This upgrade studio apartment sold for $250,000. It is located in the Turtle Bay neighborhood of Manhattan and is 580 square feet in size. This apartment is located in a co-op building that was built in 1960. It was fully renovated and modernized to a high quality standard. The building has a southern exposure, with a view of the Chrysler Building. The building has a doorman and an equipped health club. It also features a landscaped roof deck, laundry room and garage with a reduced rate for residents.
Large 2 Bedroom Apartment
This spacious 2 bedroom, 1 bath apartment sold for $407,000. It is located in the famous Lenox Hill neighborhood of Manhattan. The apartment is 950 square feet in size and is located in a co-op building that was built in 1959. The apartment has three different exposures and comes with a fully modernized and equipped kitchen. Other features of the building include: Full Time Doorman, Laundry Room (new), Bike Storage , Resident Super, Pet Friendly, and a landscaped Roof Deck ( which can also be rented for private use).
Three Bedroom House in Queens
This duplex house sold for $748,000 and has three bedrooms and two bathrooms. It is located in the Glendale neighborhood of Queens (a borough of New York City). It is 1,200 square feet in size and was built in 1925. The house sits on a lot that is 24 feet wide and 100 feet deep. The property includes a private driveway and carport for one car. Other features of this house include: Full size partially finished basement, Eat-in Kitchen, Formal Dining Room, Wall To Wall Carpet, Baseboard Natural Gas Heating, and includes a Dryer, Oven, Refrigerator, and Washer.
Brick House With Basement and Garage
This well built and attractive attached house sold for $848,000 and has three bedrooms and three bathrooms. It is located in the Middle Village neighborhood of Queens. The house is 1,791 square feet in size and of solid built brick design, built in 1940. The property lot is 18 feet wide and 100 feet deep. There is an attached private one car garage and a full size and fully finished basement, which has access directly to the outside plus the house. The home also features a nice rear yard, a fully redone and modernized kitchen, hardwood floors and modern recessed lighting. There is a very highly rated K-8 public school only one half mile away.
Fantastic Two Floor Manhattan Penthouse
True high-end luxury in the great Manhattan neighborhood of Turtle Bay. It sold for $1,750,000 and has four bedrooms and four bathrooms in its two floors, with a total space of 73,000 square feet, including a very large panoramic terrace. This penthouse is in a classic and very upscale co-op building, built in 1925. This home has been fully renovated and modernized and has a semi-private elevator accessible to each floor of the penthouse. In addition to the large terrace that provides river views, this penthouse also features: a real wood burning fireplace, top of the line modern kitchen and appliances, walk in kitchen pantry, on site super, and 24 hour doorman. The building is adjacent to two of the nicest parks in the city and some of the best food shops and restaurants are nearby.
