Absurd!! $11K+ per sq ft condo?

[rb336]

1 bedroom, 1 bath, less than 1000 square feet, more than $10 million.

http://streeteasy.com/nyc/sale/48142...tiron-new-york

[jcole]

That's just off Park Ave. in Manhattan. Of course it's going to be expensive.

Here's some more:
http://newconstructionmanhattan.com/...-gramercy-park

Studio Apartment Information
Starting at
$700,000
Sq. Ft. Starting at
553
Floorplans
A B C D
Request Studio Showing »
1 Bedroom Apartment Information
Starting at
$1,000,000
Sq. Ft. Starting at
943
Floorplans
A B C D
Request 1 Bedroom Showing »
2 Bedroom Apartment Information
Starting at
$1,900,000
Sq. Ft. Starting at
1,199
Floorplans
A B C D
Request 2 Bedroom Showing »

[Ray1936]

1 bedroom, 1 bath, less than 1000 square feet, more than $10 million.

http://streeteasy.com/nyc/sale/48142...tiron-new-york

Ah, yes....but it includes a washer and drier.

[rb336]

[quote=jcole;210572]That's just off Park Ave. in Manhattan. Of course it's going to be expensive.

THAT part of park avenue is a bit north. this is just east of the flatiron, north of alphabet city

[Gistok]

... been on the market nearly 400 days....

[canuck]

Ah, yes....but it includes a washer and drier.

And pets are allowed.

[Relayer76]

And pets are allowed.

Yeah but there is no grass. For that price you could buy a mansion on a block of urban prairie in Detroit and a helicopter to commute to NY.

[wolverine]

I see nothing unusual at all. It's a nice piece of real estate in Manhattan, looks beautiful in the photos, excellent location of course. I've seen alot worse high priced real estate in NYC. I'd never pay that much for property, but there are certainly people out there who can afford it.

[LeannaM]

It's mindblowing how much places cost in New York. Most smaller cities couldn't dream of condos that expensive.

As long as these developers can build these tiny apartments and convince people that they are worth that much, prices will continue to be that ridiculous.

Probably in most cities you can get 6,000 square feet for $5 million [[or less) in a McMansion. I'm not a fan of McMansions either and I would never pay anything close to that for a house. But if you're going to spend that much at least get your money's worth. Obviously anything in New York is overpriced, but it's where the hype is so that's where people go. Buying a $10 million condo is something you do without much common sense.

I'd prefer a smaller city that is actually reasonable, but apparently these condos have a market because people keep buying them.

I guess as a Middle Class person it just doesn't make sense to me.