488 Square feet = $1.55M in New York city today!

By
Real Estate Agent with Douglas Elliman Real Estate

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?

 

Posted by

 ____________________________________________________________________________

 

Eileen Hsu 許雅嵐 (email: EHSU(@)elliman.com)

Our team specialize in Manhattan New York Condominiums, townhouses, and condops.

We are condominium residents ourselves so we understand the Manhattan New York condominium community. We also enjoy all Manhattan neighborhoods, especially Upper West Side, Lincoln Square, Midtown East, Murray Hill, Financial District, Chelsea, Fifth Avenue, Greenwich Village, Nolita and etc just to name a few. If you or you know someone that may be interested in selling, buying or leasing their Manhattan New York condo, call us today (917)837-8869 or (646)644-6929 and we can discuss your specific Real Estate goals.

Manhattan New York Condo Specialists or Chinese Speaking Real Estate Agent

 

close

This entry hasn't been re-blogged:

Re-Blogged By Re-Blogged At
Location:
New York New York County Manhattan
Groups:
Marketing To International Buyers
Condo Specialists
LATE NIGHT - EARLY MORNING AT ACTIVERAIN
Condo Benefits
Tags:
condominium
upper west side
15 central park west
million dollar apartment

Spam prevention
Show All Comments
Rainmaker
655,882
Bob & Carolin Benjamin
Benjamin Realty LLC - Gold Canyon, AZ
East Phoenix Arizona Homes

Wow-- that sounds unreal -- but we have friends in New York who have a little place about that small and use it to stay in the city and work all week -- but then again they likely did not pay anything like that price.

Jan 19, 2009 02:58 PM #1
Rainmaker
622,611
Morgan Evans
Douglas Elliman Real Estate - Manhattan, NY
LICENSED REAL ESTATE SALESPERSON

When somebody bought an apartmentment for tens of millions of dollars, buying a little apartment for their maid/butler/help for 1.55 million probably looked like a good deal.  This type of consumption will be interesting to see if it continues even at this building.  I have seen recently many price drops in 15 CPW, where will these apartments eventually sold for.

Jan 19, 2009 11:22 PM #2
Ambassador
727,037
Sheldon Neal
Bergen County, NJ - RE/MAX Real Estate Limited - Maywood, NJ
That British Agent Bergen County NJ

No Way !!!! ... a maids quarters ??????

Unbelievable !

Jan 20, 2009 12:09 PM #3
Rainmaker
121,765
Sonny Kwan
Quantum Group Commercial - Residential - Lease Seattle, WA - Mercer Island, WA
206-819-8228

yeouch, That means you crazy man? in Chinese. 1.5 million can buy me a nice Ferarri for 300K and money left over for a trailer park to park it in.

Jan 20, 2009 12:17 PM #4
Rainmaker
2,762,040
Laura Cerrano
Feng Shui Manhattan Long Island - Locust Valley, NY
Certified Feng Shui Expert, Speaker & Researcher

Eileen, I can't even imagine the view from there--it might not be large but I'm willing to bet it's spectacular

Jan 20, 2009 12:54 PM #5
Ambassador
2,303,456
Robert Vegas Bob Swetz
Realty ONE Group - Las Vegas, NV
Las Vegas Henderson Homes for Sale

Congrats and may there be many more!

Jan 22, 2009 04:31 PM #6
Rainer
21,190
Yoni Haiminis
Lofts.com - Boston, MA

Gotta love living and working in real estate in Manhattan!

Jan 28, 2009 10:49 PM #7
Show All Comments

What's the reason you're reporting this blog entry?

Are you sure you want to report this blog entry as spam?

Rainmaker
732,603

Eileen Hsu

LICENSED REAL ESTATE SALESPERSON
Ask me a question
*
*
*
*
Spam prevention

Additional Information