hanks to the soft real estate market everywhere except our fair city, many New York City residents have been able to pick up and move out of the Big Apple for less expensive and literally greener pastures. The NY Times had an article yesterday about people who cash out of their NYC apartments and "get much more for their money outside the city."
The first example is a couple who sold their Upper West Side two-bedroom apartment for $899,000 within two hours of the first open house. They then bought a $690,000 three-bedroom home in Norwalk, Connecticut (no mortgage). An Upper East Side couple, expecting their second child, had been looking for a 1,400 square foot apartment in Manhattan but ended up buying a 5,000 square foot home for $1.665 million in Westchester, where "prices had dropped by about 10 percent in the last few months."
Tuesday, January 1, 2008
New York City 2010
