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What Do You Get in a $2.375M NYC Apartment?

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  • Description

    FBN’s Sandra Smith on booming New York City housing market.

  • Duration 3:54
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Well -- falling real estate all day here on at the end and now let's see some more properties some -- Carol is live at a swanky home is far hills New Jersey but let's start with had just met she's at a high rise right here in Manhattan -- -- say.

About one of the by this -- -- -- how much is it gonna would have cost me.

On the market for two and a half million dollars at the Condo in -- -- -- neighborhood of Manhattan.

Which is north of Madison square park right by the Empire State Building the child and about to show you the most.

Valuable thing about it -- half million dollar home.

Any city of new York and that is -- and fall washer dryer by ship that very high -- It is hard to come -- -- that -- let me tell -- let alone one.

True bathrooms too -- grams.

This is about 19100.

Square feet it's currently on the market for 2.3 75 million dollars.

And again it's all about the neighborhood it's all about being in the city is being by near the shows near that.

Trendy hotels and restaurants in the bar scene and of course this is that.

-- dominant real estate firm that's actually listing this place as well as all the other places in this building over a century old building.

Say that that fourth quarter up 2012.

Was the best for Manhattan real estate and any other fourth quarter over the past 25 years.

Apartments and condos in the city Charles right now are selling like hot cakes.

In anticipation of the fiscal -- they have a lot of sales.

The US dollars weeks they have a lot of international buyers in Charles I promised very interesting baby boomers that normally go -- -- place in sunny Florida.

From Long Island and New Jersey they're now going to the city they -- their kids to come visit and they want and be near the bars and restaurants.

Isn't isn't changing demographic going on here as well also will be talking about this story all day long live from the middle of Manhattan but now we're gonna go that.

To another two and a half million dollar home in far hills New Jersey where Adam Shapiro is located he which you can get there Adam.

Both and I'll take your washer and dryer and all up yet to have about your own private steam -- in one of these glass -- showers.

Just part of what you -- here six bedrooms a -- five bedrooms six bathrooms here's -- -- -- better go on inside take a look at this.

Itself on the market two point six million dollars if you want to buy this house say output -- -- -- 5% roughly 650000.

Dollars.

And it finance one point 95 million.

You'd be looking -- a monthly payment.

121800.

Dollars.

-- month.

The taxes on this has become into the great hallway on the second floor taxes on this property -- -- run you roughly 25000.

Dollars a year.

When we spoke to real estate agents earlier this morning they were telling us.

That homes in this area Somerset county New Jersey home lenders selling it like hotcakes you said earlier.

One million dollar homes multiple -- first when we spoke to.

We interviewed about two hours -- she said that you've got to get the home on the market now because the spring selling season has already begun.

Buyers are holding out however we spoke to.

A Rutgers professor who said that while buyers are coming in sellers are holding out they still want to see.

Price increases of roughly five to 10% before they put their homes on the market.

One of the things that's happened is we've seen price increases nationwide according core logic of roughly eight point 3%.

That's year over year in December that was the best price increase since 2006.

So this -- again two point six million dollars.

If you finance one point 95 million you're looking at a monthly payment of 121800.

Bucks a month.

Property taxes that you back 25000 dollars a year.

Back to you I don't know a couple of Heineken in a refrigerator and -- meets in a couple of hours.

Thanks a lot adamant.

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