{"id":486,"date":"2005-11-21T11:12:07","date_gmt":"2005-11-21T19:12:07","guid":{"rendered":"https:\/\/www.bridgeandtunnelclub.com\/wordpress\/archives\/2005\/11\/this_just_in_its_expensive_to_buy_here.html"},"modified":"2005-11-21T11:12:07","modified_gmt":"2005-11-21T19:12:07","slug":"this_just_in_it","status":"publish","type":"post","link":"https:\/\/www.bridgeandtunnelclub.com\/blog\/archives\/2005\/11\/this_just_in_it.html","title":{"rendered":"This Just In: It’s Expensive To Buy Here"},"content":{"rendered":"

Confirming what you assumed to be true, it is nearly impossible to buy a home anywhere near the national median home price, and when you can, it tends to be a studio or some such thing<\/a>:<\/p>\n

The question sounded laughable: Given that the national median home price recently calculated by the National Association of Realtors is $220,000, is it possible to buy something for that price in New York City?<\/p>\n

Or even, just to provide some wiggle room, up to $250,000?<\/p>\n

The initial reactions of real estate brokers in all five boroughs included: “Hah,” “C’mon” and “Yeah, right!”<\/p>\n

But then they searched Web sites, peering, virtually, down the avenues, streets and cul-de-sacs of communities beyond the neighborhoods they normally serve. And sprinkled here and there in every borough – even in mind-rattling Manhattan, where the current median price is $750,000 and the average price is $1.15 million – they found what Willie Kathryn Suggs, a broker in Harlem, called “hidden gems.”<\/p>\n

To be sure, those gems were rare, usually small and sometimes very much in need of a lot of polishing. And, in large part, they were limited to co-ops and condominiums. Only a few single-family homes below $220,000, or even $250,000, could be found, and only in the far reaches or still-struggling enclaves of the boroughs outside Manhattan.<\/p>\n

In the Wakefield section of the Bronx, for example, a two-story wood-frame house on a 25-by-100-foot lot sold for $249,000 last month. It was, however, described as a “handyman special,” requiring a lot of work. And in the Rockaways – that 11-mile sliver of south Queens once known as “the poor man’s Riviera” – five bungalows are currently listed for $209,000 to $243,000.<\/em><\/p><\/blockquote>\n","protected":false},"excerpt":{"rendered":"

Confirming what you assumed to be true, it is nearly impossible to buy a home anywhere near the national median home price, and when you can, it tends to be a studio or some such thing: The question sounded laughable: Given that the national median home price recently calculated by the National Association of Realtors […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-486","post","type-post","status-publish","format-standard","hentry","category-real_estate"],"_links":{"self":[{"href":"https:\/\/www.bridgeandtunnelclub.com\/blog\/wp-json\/wp\/v2\/posts\/486","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.bridgeandtunnelclub.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.bridgeandtunnelclub.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.bridgeandtunnelclub.com\/blog\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.bridgeandtunnelclub.com\/blog\/wp-json\/wp\/v2\/comments?post=486"}],"version-history":[{"count":0,"href":"https:\/\/www.bridgeandtunnelclub.com\/blog\/wp-json\/wp\/v2\/posts\/486\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.bridgeandtunnelclub.com\/blog\/wp-json\/wp\/v2\/media?parent=486"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.bridgeandtunnelclub.com\/blog\/wp-json\/wp\/v2\/categories?post=486"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.bridgeandtunnelclub.com\/blog\/wp-json\/wp\/v2\/tags?post=486"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}