According to New York Times latest article, one of the highest priced condominium in New York city (15 Central park West) has sold its maid's room for $1,550,000 in the 4th Quarter of 2008.
"Property records show that a 448-square-foot staff studio, or maid's room, facing an inner courtyard at 15 Central Park West sold for $1.55 million in December. That is close to the average price paid for a two-bedroom apartment in Manhattan in the fourth quarter of last year, according to figures compiled by Prudential Douglas Elliman."
These petite studios are furnished with kitchnettes, suitable for a maid, a butler or an out of town guest. The residents who had the options to purchase these units are usually owners of 4-5 bedrooms and they use these studios as a 'staff' room. This most recent sale of a staff studio work out to be whoping $3460 per square foot!
Clearly, the wealthies are always going to be the wealties, I work in the mid-luxury segment of Manhattan Real Estate market, I am still baffled by the price of this 'staff studio'... It made me wonder perhaps I should be a maid and someone will pay for my living space? :0)
All jokes aside, what will $1,500,000 buy in your town? I sure hope is over 488 square feet?