A three-bedroom apartment in Morningside Heights is asking $850,000, highlighting a segment of the New York City market where homes remain accessible under seven figures. The listing is part of a Curbed survey of units priced below $1 million.
Beyond Morningside Heights, the roundup includes an “estate condition” one-bedroom in a Brooklyn Heights brownstone. These properties represent diverse neighborhoods where buyers can still find entry-level pricing, though condition and size vary widely.
Mortgage rates were not detailed in the source, but for a buyer putting 20% down on an $850,000 property, a 6.5% 30-year fixed rate would yield a monthly payment near $4,300 before taxes and insurance. Affordability remains stretched by elevated borrowing costs relative to pre-pandemic norms.
For sellers, the need to price competitively is underscored by the “estate condition” descriptor in Brooklyn Heights, which typically implies a discount for deferred maintenance. Inventory dynamics were not addressed in the source, but such listings may appeal to buyers willing to invest in renovations.
No economist forecasts or policy changes were reported. The roundup generally reinforces that sub-$1 million homes in prime Manhattan and brownstone Brooklyn remain rare, often requiring compromises on size or condition.