A New York City Home for Less Than $350,000 – The New York Times

The pandemic upended New York City’s real estate market, and even as prices and inventory start to normalize, one thing remains clear: You still get a lot less here than you would almost anywhere else.

But your money may go farther than you think. Despite the buzz about big-ticket penthouses owned by billionaires, the city also has hundreds of properties that can be attained without Bezos-level wealth. The available number of these more modestly sized apartments has grown since the pandemic, as demand shifted toward larger units that can more easily accommodate working from home.

To score one, though, you might have to compromise. Lower-cost units are often tiny. New developments are generally off the table, since they tend to be high end. And co-ops, rather than condos, are more likely to have these units, though discounted co-ops can have strings attached like steep fees. Also, boroughs outside Manhattan are more likely to have neighborhoods that are awash in homes within reach.

“There is a mind-set out there that, ‘There’s no way I could buy something in New York,’” said Eirik Gislason, an agent with Brown Harris Stevens who is marketing a studio in Jackson Heights, Queens, for $318,500. “But that’s because there’s not a whole lot of press about these kinds of apartments.”