The Rental Market

Studios now a bargain, if you don't count the couples counseling

By Teri Karush Rogers | March 28, 2011 - 9:26AM

A 20 percent price drop for one-bedroom apartments in Manhattan has produced a glut of sale-priced studios, as buyers understandably gravitate toward bigger digs, according to this weekend's New York Times.  Studio prices have dropped to 2005 levels, with a decent selection now available in the $200-$300k range, says the Times. The cheapest tend to have the biggest drawbacks: They're in co-ops that have conservative attitudes toward subletting, pied-a-terre purchases, guarantors, investors, and parents buying for children.  And the Times forgot to mention one of the biggest bummers of all:  If you're coupling up inside that studio, you may wind up spending your savings on relationship therapy instead.

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Teri Karush Rogers

Founder & Publisher

Founder and publisher Teri Karush Rogers launched Brick Underground in 2009. As a freelance journalist, she covered New York City real estate for the The New York Times. Teri has been featured as an expert on New York City residential real estate by The New York Times, New York Daily News, amNew York, NBC Nightly News, The Real Deal, Business Insider, the Huffington Post, and NY1 News, among others. Teri holds a BA in journalism and a law degree from New York University. 

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