Reply to Buying in Manhattan--what's the scoop?

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[quote=Anonymous][quote=Anonymous]DH and I were talking (fantasizing) about buying a 2-bedroom/2-bath place in Manhattan, ideally on the Upper West Side.  (DH travels up to NY regularly for work, so in our fantasy this wouldn't be a rental but more of a pied-a-terre, and then a place to live when we retire.) I'm poking around on Redfin and just for fun put in a price cap of $1.5 million.  As I'm looking, I see that some of the places have been on the market for months and months.  One place says it's been on Redfin for 945 days!  Can anyone shed some light on this market, this price range for this type of apartment, how competitive it is for buyers currently, and whatever else you can share?  Let me dream a bit while sipping a glass of wine on this cold January night!  [/quote]

I live in DC and my husband lives in NYC.  I'll probably move later this year.  I think we will rent. There is a new luxury tax on apartments over $1M.  Apartments are sitting.  The market is hotter in Chelsea, Midtown, Downtown and Hudson Yards.  We currently have an apartment in Hell's Kitchen, but the Upper West Side would be much cheaper so that is probably where we will land.  We will probably buy a small beach house in the Hamptons instead of the city.[/quote]

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