New Manhattan 'Affordable' Luxury Apartments

The meaning of the word ‘affordable’ may have a new meaning in Manhattan. It not only means subsidized housing it can mean affordable entry level luxury.

While prices have been soaring in Manhattan along with rent a new wave of luxury entry-level homes are currently on the market and in the pipeline. It's a perfect time for many first-time home buyers. Mortgage rates are at all time historic lows (a 30 year fixed rate currently approx 3.5%-3.75%) even less for adjustable rate loans.

Affordable luxury. New units with lower asking prices currently on the Manhattan condo market and new ones will be hitting the market this year. Prices for new apartments are hitting records, but some prime units are also in the pipeline for the budget-minded buyer — with $750,000 to $3 million price tags that haven’t been seen since the 2008 financial crisis

Some examples:

235 West 75th Street