Are Three Bedroom Residences New York in Short Supply

Three Bedroom Residences New YorkThe New York Times has an article in the December 23rd online edition in the real estate section about where to find three bedroom residences in New York. At the time of the article, the New York Times “Find a Home” site had 24,783 rentals listed, 3,145 of those had three bedrooms. The article goes on to list the 5 neighborhoods with the most available apartments, and gives the price range for the apartments in each neighborhood. Back in December, the list included The Upper East side (409), The Upper West Side (245), Manhattan Valley (164), East Village (131), and Lincoln Square (111).

 

Since that list is outdated, and doesn’t help me at all, I thought I would revisit the website and see how much has changed in 2 months. I selected the area of Midtown West, and the result was 1239 rentals. When I narrowed my search down to 3 bedroom options, the list dropped to 126 available rentals. The price range goes from $3500 – $17900.

 

One of the less expensive units is at 370 West 52nd Street, and is listed as a 3 bedroom, 1 bath for $3500 per month. Looking at the pictures, it looks like its a really old building, and not in the greatest condition.

 

As I scrolled through the listing, I found a 2 bedroom that says it is convertible to 3 listed by Caliber Associates. The listing didn’t give the exact address, but it was located on 10th Ave. The asking price for this one was $3600 per month, and has a fitness center, 24 hour concierge, swimming pool, laundry facility, and bike storage. That’s more of what I am looking for.

 

The higher end of the spectrum includes 2 apartments at Via 57 West. The first is a 1,933sqft 3 bedroom, 3 bath for $14,000 per month. The second is a 1,472sqft 3 bedroom, 2 bath apartment for $10,200 per month. So I went directly to the Via 57 West website and found out some additional details. The smaller apartment is on the 21st floor and faces South & West. The larger apartment is on the 26th floor and faces North & West.

 

After doing the research, I would tend to think that there is not a shortage of 3 bedroom apartments in New York, it’s just a matter of where you want to be and how much you are willing to pay.

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