What Will $1 Million Get You in New York City?

Answer: It’s not as bad as one might think.

Do we really need to convince you as to why New York City is an amazing place to be? Do we really need to explain why the so-called “Big Apple” is an awe-inspiring metropolis that has attracted people from all walks of life who wanted to make something of themselves, whether that was in the world of finance or the arts or media or, well, anything else?

No, we don’t. So let’s get straight to the housing market.

No one moves to New York City to live in a spacious home with a giant backyard. Those who can afford to rent a studio with more than 10 square feet of space are incredibly lucky, and those who can say they live in a one-bedroom apartment - you know, the kind where you can close your bedroom door and be shut off from the rest of your home - are in a league of their own.

That said, purchasing a home in New York City may not be as bad as one might think. An October 2018 CNBC report, for example, discussed declining real estate sales in Manhattan. Just please understand that getting two or more bathrooms can sometimes be a bit of a stretch, and don’t expect humongous, spacious rooms and modern kitchens. (Although some places might surprise you.)

And did we mention that you might consider living outside of Manhattan? That means living in Queens, Brooklyn, the Bronx or Staten Island. Some of the homes for sale in these boroughs are just a reasonable subway ride away from major hubs like Times Square.

For example, Zillow lists a three-bedroom, one-bathroom, two-story brick house in the Queens neighborhood of Long Island City for $999,000.

If it’s Midtown Manhattan you want, Zillow lists a lovely three-bedroom, two-bathroom apartment for $899,000. You won’t have any counter space in either bathroom, but both are big and luxurious-looking enough to impress your skeptical, out-of-town visitors.

Now, if you want to live out your hipster dreams, Brooklyn has some fine options. Trulia lists a gem of an apartment in the borough’s Vinegar Hill neighborhood for $1,098,000. It’s just got the one bedroom and the one bathroom, but with its private balcony, Manhattan views and up-to-date look, there’s plenty to entice someone to wants to live here for a long time.

If you want to stay in Manhattan and don’t mind going a tad over-budget, Realtor lists a lovely, centrally-located one-bedroom, two-bathroom condo for $1,200,000. According to the listing, there’s enough space to create a second bedroom.

Then for $1,050,000, you can acquire this one-bedroom, one-bathroom nook in Manhattan listed on Realtor. Be not afraid. Photos of this east-side apartment show that there is plenty of room for entertaining, as this place has enough space for a dining table, a living room set, and a home office. Oh, and there’s a built-in bar.

In the same area you’ve got a cute and cozy one-bedroom, one-bathroom condo listed on Realtor for $995,000. You’ll have your own in-unit washer and dryer, plus expansive windows with decent views. And while this unit offers a mere 788 square feet of space, it does have its own balcony, plus it’s located in a building with some major amenities, including a lap pool.

Bottom line: The main point of living in New York City is to enjoy all the wonders that are literally just outside of your front door. Whether you opt for mega-luxury or you’re fine with whatever gets you the most bang for your buck, you will undoubtedly enjoy both your home life and your city life.