$300K Buys A Closet in the Greatest City in the World

In the "What You Get For…" column of today’s New York Times, Anna Bahney describes three properties in Front Royal, VA (uh….where?), New Orleans, and Friday Harbor, WA (uh…again…where?).  Check out the entire article but here’s the gist:

Front Royal, VA-A three-bedroom, two-bath house with 1,778 square feet of living space in the residential subdivision High Knob; this home is new construction. Asking $299K or $168.67/sf.

New Orleans-A 100-year-old renovated Creole cottage with one bedroom, one and a half baths and 1,400 square feet of living space. There are dark hardwood floors and ceiling fans throughout this two-story home. The renovation included new wiring, redoing the plumbing and roof, and the installation of a central air-conditioning and heating system. Asking $299k or $213/sf.

Friday Harbor, WA-A two-bedroom, one-bath condo with 1,222 square feet of living space in the 31-unit Victoria Crossing condominium development.  Asking $299,990 or $245.49/sf.

So what does $300K get you in Manhattan?

Upper Westside of Manhattan-A single room 250 square foot studio just off of Central Park with a renovated kitchen, new windows, just finished maple wood floors, and a Murphy bed. Asking $299k or $1,196/sf.

Can you say LOCATION, LOCATION, LOCATION?

Since I have lived here for almost 20 years or more than half of my life, I totally consider myself a New Yorker at this point (except for my professional sports alliances).  Having said that, I often find myself trying to explain city living and our pricing structure to friends, family, and just plain ole non-New Yorkers.  Explaining that $300k gets you a 10′ x 25′ room blows most people’s minds.  For instance, my best friend owns a 6000sf home on 4 acres with closets that are almost 250sf.  He just can’t fathom why anyone would pay that kind of money for such little space.  Well I get it!  It has taken me a long time to appreciate all that this incredible city has to offer but their is no place in the world where the "location, location, location" mantra holds more true.  If you don’t believe it’s an amazing place to live, just ask all those $300k studio dwellers. 

You gotta love this town to call someone else’s closet "home."