Studio Apartments Are The Cheapest They've Been In Years

When I-Bankers were eating caviar for breakfast and Silicon valley yuppies were buying up all the private jets, getting into the New York real estate was a pipe dream for the non nouveau-riche—$1 million for a studio was commonplace. When the bottom fell out back in '05, prices dipped faster then Lindsay Lohan's (excuse us, just Lindsay) credibility as an actress. Well now the New York Times is reporting that the recession's impact on the studio market has gone soft again, meaning finding studios for $200,000 is actually possible. Though the average price of a studio plummeted to $404,326 in 2010, from a high of $500,479 in 2008, the NYT searched through listings and found over 200 studios on tap for $300,000 or less. Buy now, sell later!
Studio, $250,000, 320 E 42 #6088, listing via Street Easy.

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