REAL ESTATES FORUM

New York Times
June 6, 2004

Yes, You Can Find Bargains in Manhattan
By TRACIE ROZHON

Picture:
http://graphics7.nytimes.com/images/2004/06/06/realestate/cov.583.1.jpg
Caption:
Richard Perry/The New York Times
This West 180th Street co-op is small, but has plenty of rooms. The
maintance is only $459 a month, but the owner wants all cash.


APARTMENT hunters scanning the classified ads last weekend might have
come across a studio apartment in Greenwich Village offered for
$695,000. The little condominium was described as being in triple mint
condition, with three closets. A few inches away, another ad trumpeted
a one-bedroom loft in the East Village for $1.25 million. In SoHo, on
Wooster Street, an extraordinary penthouse could be had for $8.5
million.

Even with sticker-shock prices and the accompanying
buy-it-now-before-the-mortgage-rates-go-up sales pitches, the prices
realized for Manhattans apartments keep inching up. Over the last
several years, industry experts had predicted an imminent burst to the
bubble, yet the ticket on the average apartment