Jul 2, 2009

This Just In From CNN: Manhattan Home Prices Plunge!

A report compiled by top New York City real estate brokers was released today detailing a marked drop in the price of Manhattan housing, and a dovetail increase in sales, specifically of studio and one-bedroom apartments.

With prices plunging, Bossy thinks this is an outstanding time for her to purchase the New York City life that has so far escaped her — who’s in for some real estate shopping?

First up is a studio apartment in Gramercy Park:

This apartment is listed at $495,000 and comes with a doorman, a fitness center, a landscaped courtyard — and it allows pets!

Next we have an Upper East Side one-bedroom apartment listed for $35,000. $35,000 plus one half million dollars:

Next is a mint condition Greenwich Village one-bedroom apartment in a full service building, listed at $850,000:

And finally, this Murray Hill studio apartment listed for only $289,000! $289,000 plus $476 a month in condo fees. But the expansive 325 sq/ft apartment features hardwood floors, a northeastern exposure, and a renovated cook’s kitchen!

Bossy didn’t realize when CNN was talking about plunging prices, they were referring to this:

permanent link to post

46 comments

1. 1
   on July 2nd, 2009 at 8:55 am
   MidLifeMama said:

   I know Bossy likes living small, but that is microscopic. I would trade you a schnauzer for your great dane though if you are intent on living in a closet.


2. 2
   on July 2nd, 2009 at 8:57 am
   BH said:

   Bossy, as always…

   BRILLIANT!!!


3. 3
   on July 2nd, 2009 at 9:04 am
   Hokie Deb (www.WebSavyMom.com) said:

   –>That picture of Bossy’s Great Dane IS GREAT. Thanks for the chuckle this morning.

   http://www.WebSavyMom.com


4. 4
   on July 2nd, 2009 at 9:04 am
   Ungirdled Passion said:

   Bossy, you are such a gift! You got me laughing AND counting my blessings today! Thank you!


5. 5
   on July 2nd, 2009 at 9:06 am
   Momo Fali said:

   It looks like you’d need stilts to reach that microwave. Well, unless your me or Bossy with our orangutan arms.


6. 6
   on July 2nd, 2009 at 9:28 am
   Barb - WillThink4Wine said:

   Outrageous, isn’t it? So glad I live out in the country.


7. 7
   on July 2nd, 2009 at 9:29 am
   Donna said:

   My God! Just the sight of that kitchen sent me into claustrophobic panic – now my townhouse kitchen doesn’t seem so small anymore! Thanks, Bossy


8. 8
   on July 2nd, 2009 at 9:34 am
   KM said:

   This reminds me of all the new arrivals to NYC who think they’ll be staying in a “Friends”-style apartment.
   To the outer boroughs I say!


9. 9
   on July 2nd, 2009 at 10:08 am
   Jeanette said:

   I can’t imagine the draw.


10. 10
    on July 2nd, 2009 at 10:24 am
    MariaV said:

    I would get claustraphobic in those apartments.


11. 11
    on July 2nd, 2009 at 10:37 am
    David said:

    My sister wants me to go in with her on a one-bedroom with all these plunging prices. “How much could you contribute towards a downpayment?” she asked. Um, about 300 shattered dreams and 40 shares of lost hope?


12. 12
    on July 2nd, 2009 at 10:57 am
    Reeb said:

    David, I was just going to wonder in your general direction — those residential options seem crazily pricey (and desperately teeny) to me; what’s the draw??


13. 13
    on July 2nd, 2009 at 10:58 am
    cynthiagirl said:

    OMG. I am overcome with laughing. It just goes to show how all things are relevant, and, oh, location, location, location.


14. 14
    on July 2nd, 2009 at 11:28 am
    BOSSY said:

    Reeb: the draw is all the acreage surrounding those teeny apartments, namely New York fooking City!


15. 15
    on July 2nd, 2009 at 11:38 am
    Sallie said:

    I live in a fifth-wheel trailer and my kitchen is bigger than that! Plus I don’t need an elevator to get outdoors.


16. 16
    on July 2nd, 2009 at 12:12 pm
    Shelley said:

    I always heard that NYC apartments were small, but I thought people were exaggerating. 325 sq ft, really? Really? I think my laundry room is bigger than that. Maybe.
    Ok, husband just pointed out to me that 325 sq ft would be a room that is approximately 18 ft x 18 ft. So definitely that would be bigger than my laundry room. Which makes me happy for whoever lives there. Because I wouldn’t want to live in my laundry room.


17. 17
    on July 2nd, 2009 at 12:16 pm
    Florida Liz said:

    Reminds me of visiting my sister in Manhattan back in..79. Studio apt with pets (of the “EEK” *squash* kind). Back then it was $800/mo. In Denver, at that time, that would have cost $150.
    Yep, it’s all relative. Thanks for the out loud chuckles this morning.. Stella is a good sport, she adds that extra oomph as a prop to any presentation.


18. 18
    on July 2nd, 2009 at 12:56 pm
    Liz said:

    Whenever I get depressed about rent/home prices in LA, all I need to do is shop real estate in NYC and I instantly feel better. Thanks, Bossy!


19. 19
    on July 2nd, 2009 at 1:06 pm
    NellyFrittata said:

    Off topic but…I love how BH is your biggest fan.


20. 20
    on July 2nd, 2009 at 1:31 pm
    joeinvegas said:

    But, doesn’t son need a place to stay for the rest of school? wouldn’t it be cheaper to buy a closet like that for him than pay the dorm bills? (plus, he could really partay!!!)


21. 21
    on July 2nd, 2009 at 1:34 pm
    Maria said:

    My nephew lives in Harlem. When explaining the tiny apartments he said “The city is your living room, the apartment is just where you sleep.” or something to that effect. And I replied “GAH.” and “MEH.” which I had learned from bossy.


22. 22
    on July 2nd, 2009 at 2:14 pm
    reen said:

    Yes, yes, yes, perspective. My rent’s about to go up but this reminds me how good I have it – I don’t have to wash dishes in my closet and I don’t have to roam the street corners to pay for the privilege!


23. 23
    on July 2nd, 2009 at 2:55 pm
    Sheryl W said:

    Eh, NYC is so overrated.


24. 24
    on July 2nd, 2009 at 3:06 pm
    suzi said:

    My first thought-where is rest of that apartment? And that apartment? And that apartment? And why is that kitchen in that closet?


25. 25
    on July 2nd, 2009 at 4:39 pm
    RuthWells said:

    As a survivor of Manhattan real estate, Bossy, I must say you crack my shit right up.


26. 26
    on July 2nd, 2009 at 4:55 pm
    Merrie said:

    I swear — the stove/oven in that kitchen picture is the EXACT one I had in my teeny little studio apartment in San Jose, CA. The pilot light went out regularly, and I’m amazed my cats and I didn’t die from poisoning. These places are about what I had as a 22 year old, and I can’t imagine how anyone affords those prices in NY!!


27. 27
    on July 2nd, 2009 at 4:55 pm
    Stacey Ball said:

    My ass wouldn’t even fit in that kitchen…then again if I had that kitchen long enough maybe it would. Could I have just found the new diet plan? Starve yourself thin with a tiny overpriced New York apartment!


28. 28
    on July 2nd, 2009 at 5:19 pm
    Bush Babe of Granite Glen said:

    Ummm… that apartment might fit into my living room about 1 1/2 times… dear Lord. I cannot wait to visit NYC. And after I get there, I am sure I will not be able to wait to look out on my very own ‘central park’ again.

    I don’t know if I will ever recover from that kitchen photo…
    BB


29. 29
    on July 2nd, 2009 at 5:36 pm
    sugarpie said:

    I hate to go against the prevailing sentiment (not really), but, yeeeesh. If I had the $, I wouldn’t hesitate AT ALL. Wouldn’t want to live there forever, but a few years in Manhatten would be too fine…


30. 30
    on July 2nd, 2009 at 5:43 pm
    Helena said:

    Haha! We’re seeing exactly the same in London. With so much choice it’s difficult to decide which flat to buy.


31. 31
    on July 2nd, 2009 at 6:20 pm
    Manic Mommy said:

    I’m just outside Boston; I’m not throwing any stones.


32. 32
    on July 2nd, 2009 at 7:55 pm
    Jill said:

    Is it sick that looking at all the crappy apartments makes me want to RUN back into NYC living… with two kids in tow…
    I would probably be miserable, but the idea is too sweet.


33. 33
    on July 2nd, 2009 at 9:58 pm
    Cupcake Murphy said:

    Bossy’s Great Dane is totally in Being John Malkovich.


34. 34
    on July 2nd, 2009 at 10:58 pm
    Tootsie Farklepants said:

    Holy Haysus!!! And I thought Los Angeles was pricey. Guess I can scratch NY off my places I’d like to live. A family of 5 could never fit into one of those. You know how everyone always congregates in the kitchen on holidays and get togethers? Can’t do that in one of those.


35. 35
    on July 2nd, 2009 at 11:51 pm
    Dawn in Austin said:

    No, thanks. I think I’ll keep my big ole house in bigger ole Texas. With money left over, thankyouverymuch!


36. 36
    on July 3rd, 2009 at 12:11 am
    Amber Star said:

    Does Bossy now love her home that a year or more ago she cast aspersions upon. Personally, I think Bossy’s home is infinitely better than tiny apartments for like mice or something on that scale. I’m just saying…

    There is a dangling participle and I cannot spell for beans tonight, but Bossy hopefully will understand.


37. 37
    on July 3rd, 2009 at 12:28 am
    amy said:

    Wow. That is pathetic. No idea how anyone gets into the market there. A million for a narrow hole in the wall with maybe 2 windows?

    Come on up to Canada!


38. 38
    on July 3rd, 2009 at 2:42 am
    dobes said:

    Raised 3 kids in a 600 sq foot apt right in the neighborhood where Bossy’s son goes to school. One son danced with NYC ballet, another sang at the Met. LOTS of experiences, something to learn and see and do every time you walked out the door, but no room for THINGS. Just the way I like life!


39. 39
    on July 3rd, 2009 at 11:41 am
    Heide said:

    Awww, c’mon Bossy, you scratched the bottom of the barrel. I live in NYC in 1100 lovely square feet facing a park in Manhattan and I didn’t pay anywhere near those prices. The draws? No room for stuff, so I don’t get overloaded with it. Museums, parks, historic places, and no need for a car unless I’m leaving the island. That’s just for starters.


40. 40
    on July 3rd, 2009 at 1:13 pm
    Reeb said:

    thanks to everyone for explanations of “the draw”, including 21/maria’s nephew (“the city is your living room”). such a different life experience. It must work for the millions and millions who live there. Foreign to me but I’m not living there…


41. 41
    on July 3rd, 2009 at 11:51 pm
    amy said:

    Good point. The home is simply your bedroom. The city your home. But wholy moly we are talking pretty big bucks for a bedroom!


42. 42
    on July 4th, 2009 at 1:45 am
    LisaJane said:

    Bossy,
    My daughter lived in Manhattan for a few years then moved to Brooklyn Heights. She’s got a studio. It’s basically one room with a tiny kitchen and bath attached. It’s about 120 sq. feet. It’s so small that she can make dinner and go to the bathroom at the same time. Isn’t that delightful! The price would astound you.
    But she absolutely loves it and NYC. For now, she’s where she should be.


43. 43
    on July 4th, 2009 at 2:28 am
    ritabby said:

    Bossy the Broker. Sing it sister! Everything’s going to fall MUCH lower than today. My real estate prognosticationism


44. 44
    on July 4th, 2009 at 6:35 pm
    Sparx said:

    Boss, please tell me that is not your hairy arm holding that plunger…


45. 45
    on July 7th, 2009 at 1:39 pm
    Linda Sherwood said:

    My living room is bigger than that last apartment.


46. 46
    on July 11th, 2009 at 10:54 am
    Shannon said:

    It was the renovated cook’s kitchen that really got me – that one was just over the top after chair and a chair…. I’m still laughing.