Buying a property in New York City is not an easy feat. This is because one of the things that you have to think about is how to make it work financially. Most of the apartments and houses are so expensive that it will blow through your wallet if you don’t budget wisely or buy or lease what you can just afford.
However, it does not mean that you should give up because there are ways for you to lessen the costs, be it compromising on space or choosing a co-op over a condo, for instance. To better help you out on looking for the most affordable Manhattan real estate listings, we’ve compiled some places where you can definitely search for affordable properties.
Battery Park City
Most real estate brokers say that this is a love-hate relationship since either you are open to it or not. The great thing about looking for real estate listings in this place is that it has a lot of great schools and subway stations, not to mention that it has the median price of about $771,000.
Lower East Side
The Lower East Side is close to the river, and with the trendy hotels, speakeasy bars, and more, this might be one of the places where you can find affordable Manhattan real estate listings. There is also a large part of the neighborhood that is home to a 4,500-unit affordable co-op complex. It has a median price of about $576,000. It is preferable for those who prefer a place teeming with nightlife.
This might seem like a neighborhood that is not affordable with its private park and townhouses, but it is in the median price of about $852,000. East of the private park, you have reasonably priced apartments. You can get wonderful deals, especially if you manage to find the right property.
Located close to the East River, Kips Bay is affordable because it does not have a well-served public transportation system. It has a median price of at least $710,000. But, despite this, you can choose a lot of co-ops in the area. This is also the reason why the prices are lower.
This is one of the neighborhoods that many brokers think the prices will push up more than the median price in the years to come. Recent statistics show that it has a median price of at least $507,000 to $611,000. Harlem has a lot of public housing projects. In West Harlem, you can also find that it is close to the Columbia University campus, while Central Harlem involves the Brownstones.
Murray Hill/Midtown East
This neighborhood has townhouses, condos, and co-ops. It can be found on 40th street down to 27th and is east of Fifth Avenue. The median price is over $400,000. So, if you are looking for better Manhattan real estate prices, then this is for you.
Upper East Side
This might come as a shock to you, but there is still hope for you to find a Manhattan real estate in the Upper East Side. This would not be easy since many want to live in this neighborhood, and it can be daunting since most consider it a pricey place to live in. But, the Upper East Side offers some starter apartments. They can be found in the northern or easternmost parts of the neighborhood.
This place is considered one of the most affordable neighborhoods. There are sixty-three transactions or more that have been done in Inwood. The median price is at least $410,000. It’s popular because of the transit access, and you also have the Inwood Hill Park to enjoy.
This is a lesser-known part of Manhattan and is located on the far east side of the island. In this place, you can find co-op buildings. Many of the properties were once hotels, so you can see many untraditional layouts with the apartments. The median price for this neighborhood is $417,251.
With a median price of $527,000, Washington Heights is a neighborhood you can check out for affordable Manhattan real estate prices. It has great transportation and its grand co-ops that line the streets. The area can be congested, but that’s what makes it an urban neighborhood.
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