Anyone have an idea of the average cost of a modest apt. in Manhattan? Is the market terribly tight or is real estate available?

There are always apartment for sale in Manhattan--you just may not be willing to pay the current prices.

So, okay, a modest one bedroom in an established area might cost $350,000 to $450,000. Could actually be more or less, depending on the neighborhood, the amenities of the building, and the special features of the apartmernt itself. That does not include any additonal monthly costs (building taxes, salaries for doormen, electricity).

What do you get for all that money--what is a Manhattan one bedroom? Living room, bedroom, bathroom, kitchen (probably with no dining area), shared laundry facilities in basement.

Funny you sould ask?
We are in the midst of moving, finding a newer better bigger apt. There are plenty out there, but you have to really comb through the awful ones. Prices are high.
Try www.williambmay.com --- you will get an idea of prices with photos.Good luck~

If you have difficulty finding something in Manhattan, you can find decent one-bedrooms in Hoboken, NJ for between $250 and $300. There has been a bulding boom here so there several new buildings as well as many in older 2 and 3 story walk-ups.

The commute to NY is fairly easy by boat, bus, or train.

ellenem's summary is accurate -- very little is available for $300 or less. Many apts are selling for 5 to 10 percent less than their listing prices, but demand is strongest for entry-level properties.

Another real estate company with a useful web site more user-friendly than May's (IMHO) is www.corcoran.com.

Measure the approximate square footage of your current place, to give yourself a perspective on the size of apts that list square footage.

... and don't forget maintenance and taxes, which can be equivalent to a monthly mortgage payment in other parts of the country.

Ellenem is right on target. There is also a fairly large inventory available at that $350-450k range. There are apartments out there for less, but the challenge is in finding them and having the ability to pounce on them when you find them. It is like a fulltime job.

I don't believe what people are willing to give up to live in NYC.

I recently sold my 3 bedroom, 2 bath, dining, living, covered patio, attached garage, fenced back yard, large fully landscaped yard, 40 year old home in great condition in a nice neighborhood for $75,000 in a Dallas suburb. And I now live on 15 acres of land in the midwest in a larger home for less than I sold my other house for.

$350,000 for an apartment? Are you nuts? You may be paying more per month to park your car than I pay for 15 acres of paradise.

People on "both coasts" laugh at us, but we always get the last laugh and put it in the bank.

LOL, wemr, there might be some people out there that think you are nuts to want to live out in the middle of nowhere!
I guess Paradise is like Beauty-it is all in the eye of the beholder.
I grew up in a similar place that you describe-lots of land and trees and free to run wild as kids.
That was great- then, now I love living in a city, and not just any city.
While there are trees and rivers and parks here, there are also hundreds of movie theaters, theaters where I can see the people live on stage that you only see on television or in the movies.
I can hear the worlds greatest orchestras, watch the worlds greatest ballets, you have to take a trip to NYC to see them, they are in my hometown.
So I guess you get what you pay for..we pay for the privelege of living in New York City..you get to live on 15 acres.

and we don't have to own a car.

Scarlett, thank you for saying so nicely what some of us were merely thinking of as "Living on 15 acres in the midwest isn't paradise, it's lonely exile and isolation in the sticks!"

$75,000-for a 3 bedroom house!!
Where I live, you can't get a studio apartment in a bad neighborhood for $75,000. Who knew Dallas was so cheap??

FYI, the above apartment prices are similiar, with many in the $700 - $800K range in San Francisco. Not many buildings/ condos, have doormen, except the grand old Nob Hill apartments and they run in the millions. Like Manhattan, some apartments/condos, have spectacular views.

They built some new condos about two years ago, a block from us, two bedrooms, some view, no garage or carport (owning at least one car is a prerequisite for living in California) and they started at $800K. Is it worth it to live in a city like SF or Manhattan, YES, if you can.

OK, so I'd take 15 acres of paradise - as a second home, if I didn't have to weed it. It is nice to get away from the City once in a while, that's why we are leaving for NY tomorrow ;-)

True true, 15 acres or so would be a great second home. I have come to find that prices are high when the demand is high. I guess there are more people interested in living in a city like NYC than out on the farm.
Canuck, Battery Park is offering many enticements to get people to buy/rent, a few months free, etc. You might look in that area. Good luck.

It's a matter of demand AND supply -- there's a lot more farmland than Manhattanland to go around.

For an exhaustive examination of NYC real estate values, right down to the price differential you pay for a view or a fireplace, go to www.law.nyu.edu/realestatecenter and click on the link "The Condominium vs Cooperative Puzzle."

I would gladly pay the $400,000 to live in Manhattan than the $75,000 to live in the sticks. Problem is, I don't have a job in Manhattan.

I doubt anyone pays less for rent/mortgage than I pay for parking on the isle of Manhattan, since I pay nothing to park my car. I also don't pay anything to sit on my stoop and watch the beautiful, colorful parade of different kinds of people who are walking down my street. As Scarlett says, the ballett, the symphony, museums are all here. I, however, never pay to see them. Why do you ask? Because I can see them all for free (or the cost of newspaper). You see in NYC all of these things can be free. The symphony and opera perform in Central Park, Prospect Park, etc. for free. Or I can sit in Bryant Park on a Monday night and see a great old movie for free.

It is all really a trade off. I enjoy these things so I don't mind paying more for rent than people in the midwest. When I get a hankering for the great outdoors, I do what you do when you get a hankering for "culture" - I go visit.