The Market

NYC is about to get some legitimately affordable new condos (yes, really)

By Virginia K. Smith  | September 12, 2014 - 11:59AM

When most of us think of new condo developments, "affordable" isn't the first word that springs to mind. And while this fall's onslaught of new condo units will feature quite a few high-priced options for the one percenters out there, the New York Daily News also reports that "more than half of the 2,500 new apartments slated to hit the market in Manhattan this fall will be geared toward first-time and price-sensitive buyers."

Curbed also has a round-up of the many, many new developments coming our way for fall, and in the interest of looking on the bright side (and reading selectively), we've pulled the details on a few of the relatively affordable buildings set to hit the market:

  • A small Clinton Hill condo building "designed to look like the Brooklyn Bridge" is opening at 538 Washington Avenue. It will only have 10 units, but prices range from an appealing $425,000 to $1.8 million.
  • The Continental Park at 87-10 51st Avenue in Elmhurst, Queens is launching in October, and every unit—from one-bedrooms to three-bedrooms—will reportedly be under $500,000.
  • The Dock Street DUMBO project at 60 Water Street will be launching this fall, and 50 of its 290 units will be designated as affordable housing, Curbed notes, with rents that go as low as $500.
  • In City Island's new development On The Sound, Curbed reports that asking prices for one- and two-family homes will start  at $478,000, and three-bedrooms will be priced "in the high $500,000s."


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