According to New York City records, the median price for an apartment in Manhattan for the month of June 2023 was $1,200,000. The price represents a slight decrease of 2.4% from the median price of $1,228,782 recorded in June 2022. The number of apartment sales, however, fell from 1,686 to 1,088 reflecting a year-over-year decrease of 35%.
June represents the eighth consecutive month that the volume of year-over-year sales have dipped in the borough.
What exactly does $1,200,000 get you in Manhattan? Let’s take a closer look.
Apartment 6-K at 250 West 27th Street is a duplexed loft with a private roof terrace (14’x19’). The pre-war one-bedroom co-op is located in the Chelsea neighborhood of Manhattan.
The multi-level residence enjoys a southern exposure, high ceilings, oversized windows and long plank flooring. In addition there is an extended foyer (22’x5’) with floor-to-ceiling built-ins. The upper-level bedroom opens onto the terrace and features a wall of built-in closets and an en-suite bath with jacuzzi.
The galley kitchen is a simple space with wood counters and a suite of older appliances.
250 West 27th Street is a modest-sized building located between Seventh Avenue and Eighth Avenue, just a few yards from the Fashion Institute of Technology. Due to the presence of FIT, the street is closed to vehicular traffic during the day on weekdays.
Built in 1918, this former warehouse rises 6 floors and contains 79 apartments; it was converted to co-operative ownership in 1979.
The building provides a video intercom system. Amenities include a laundry room, private storage, and a bike room.
Apartment 6-K at 250 West 17th Street was first listed in May 2022 for $1.395 million. In January 2023, the listing went to contract after a price drop to $1.235 million. The closing price of $1.2 million represents a 14% drop from the original ask.
The area is serviced by the 6 Train located at 68th Street and Lexington Avenue and the Q line at 72nd Street and Second Avenue. The property was represented by Paolo Valois-Lopes and Eileen Robert of Brown Harris Stevens. Please visit Linecity for more details on the sale.