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What Will a NYC Apartment Cost You?

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  • Description

    FBN’s Sandra Smith breaks down the monthly costs of a New York City apartment.

  • Duration 2:54
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More on the real estate story right here in Manhattan we're talking about luxury apartments for sale -- -- -- on.

And are they use in loans at all Sandra Smith.

Is in the heart of Manhattan she's just a few blocks -- Macy's.

To put that in perspective and the -- hotel.

Is right next door to where you are -- Breslin is a fabulous place to eat if you love fat or fat.

Indeed and actually -- to -- -- even in big perspective for folks around the country.

Who might not know New York neighborhoods as well you're just looking out one of the large windows of this Condo or apartment.

The Empire State Building so we're just south of the Empire State Building blocks away from the flat iron building aim to give you an idea of what you get.

For an apartment in New York right now where the real estate market is very hot in -- The fourth quarter with the best.

Quarter for the New York real estate market -- -- Manhattan real estate market 25 years.

In this place that you're looking at right now goes on the market is on the market for 2375000.

Dollars it's two bedrooms.

It's 19100.

Square feet.

To put that in perspective could you comment and say you -- -- buy this place -- love a neighbor had you'll love the renovation of the place.

It's an old building over a century old.

But 20% down.

That's 40% before 175000.

Dollars.

Take out a thirty year mortgage monthly payment on 3.3 75%.

Interest.

Interest rate -- -- 7000.

Dollars a month in your monthly mortgage payment.

Now that's not all -- -- and also have your maintenance fees which most New York apartments will have.

That's 1514.

Dollars a month that includes gas water he luxury of having a washer dryer which is so prize in New York.

Real estate taxes on top of that about 971.

Dollars a month.

If you were to rent the place it would be about 151000.

Dollars a month that actually -- -- -- the highest -- -- It comes up to about 101000 dollars a month so this -- yet.

In this neighbor had no -- north of Madison square park in Manhattan.

You're below the Central Park -- but you're well above the financial district and all that.

But bottom line.

Taking mortgages -- in these places these -- international buyers who are swooping in.

In all cash deals in -- places like this for 2.4 million dollars so.

The real estate market here did not suffer as much as the rest of the country during the recession.

It's bounced back hard guys and it's actually hard to keep -- place in the market your thing definitely.

At least Manhattan.

A seller's market right now Cadbury -- and to thank you so much for that he would see all day Sandra Smith and I must've.

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