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Discussion Starter · #1 ·
I'm just curious to know if anyone owns property in either of these cities...be it an actual house, a condo, a townhouse/rowhouse or whatever else in-between. Anyone? I am particularly interested in those owning in Boston and NYC since they are the most expensive.....these three are my top choices at this point for whenever I settle down. Just want to see if anyone at all owns out in these areas. I know it's easier to own in Philly when speaking of finances, but I just want to see if anyone else was able to get something in the larger cities despite the high cost.
 

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Brooklyn Real Estater
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I am closing on a multi-family (4 family house) tomorrow, actually. I'm co-owing it with others, but nontheless, it'll be part my own. It's in the Williamsburg, Brooklyn section of New York City.

As for owning in New York City, you better have a downpayment of 10-20% saved, have good-to-excellent credit, and be prepared to pay a minimum of $200,000 for a studio apartment in Manhattan (that would be about 300-500 square feet of space, depending upon WHERE you purchase in the city).

In terms of buildings, I sell real estate in the Williamsburg/Greenpoint neighborhoods of Brooklyn, so a 2 family averages about $750,000 here. While a 3 family house will run you anywhere from $850-$1.1, depending upon location.

New York City's property values are outrageously high, but continue to sell at a very brisk pace. Boston is expensive as well, but I'm not familiar enough with the market to comment on its performance lately. As for Philly, there are homes that can still be purchased in the bad ghetto neighborhoods for $5,000 bucks!!! Those will be most likely burnt out though. Cheap deals such as these are nonexistent in New York City or Boston.

The cheapest thing I've seen in New York City is way way up in the northern Bronx (or mid-Bronx): a studio condo for $89,000. Take your chances!
 

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metrocard millionaire
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jbrad is right

you can get some real good deals depending on where you are in the bronx

my father used to own a few buisness on white plains rd. when I was a kid...they were all burned on fire back in the mid 90's

a few years ago right off tremont and the concourse I helped a friend rehab some parts of this building he bought he bought it for around 80K, good property d train right nearby..but it was a hell of a job he did rehabing the spot
 
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