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[Three Cents Worth NY #202] Studios Are The Market Heavyweights

It’s time to share my Three Cents Worth (3CW) on Curbed NY [1], at the intersection of neighborhood and real estate in the capital of the world [2]…and I’m simply here to take measurements.

Read this week’s 3CW column on @CurbedNY [3]:

…It’s been a while since I was needlessly wonky so please be patient with me, but with all the attention lavished on trophy properties and the weakness/strength of the US dollar, I thought I’d take a look at the strength of studio apartment pricing relative to 4-bedroom apartment pricing in Manhattan—one end of the price spectrum versus another. To do this I divided the median sales price of a 4-bedroom apartment by the median sales price of a studio to came up with this ratio. I haven’t thought of a catchy name for it yet (working title: “4-bedroom/studio median sales price ratio”). Another way to think of this ratio is like a conversion of US dollars into some other currency. It goes like this: “How many studio apartment purchases would it take to equal one 4-bedroom apartment purchase?” I used median sales price in this ratio to remove outliers (i.e. $88M, $70M, $52.5M, etc.)…

 

[3] [click to read column]


Curbed NY : Three Cents Worth Archive [4]
Curbed DC : Three Cents Worth Archive [5]
Curbed Miami : Three Cents Worth Archive [6]