June 23rd, 2014
by Michael Haltman
How much would you pay to live in a 500 square foot apartment, also called closets by some, in NYC?
If your initial reaction was that price is irrelevant because regardless of cost you couldn't live in 500 square feet of space, then these NYC studio apartments are definitely not for you. Although, to be fair, some are actually as large as 600 or 700 square feet!
And, in addition to the small size, a further complication is the fact that these 11 apartments being offered for sale all have asking prices above $1 million.
This number compares to the median price for existing homes in the United States of $201,000 and for new homes of $275,000 that have an average size 2,598 square feet.
Links to all of the apartments are provided, but two in particular stand out and we provide a fuller description and picture of both here.
The first is being highlighted due to its size of a mere 400 square feet as well as the fact that it sold in 2008 for $500,000 and is now listed at $1.05 million, or $2,625 a square foot!
The second apartment was chosen because it is the highest-priced studio apartment listing in NYC. The asking price is $1.8 million and at 689 square feet it comes in at an astounding $2,612 a square foot.
The links to all are below.
The 11 most expensive studio listings in NYC