Greenwich Village NY Condos for Sale : The One (1) Bedroom Market

Greenwich Village NY Condos for Sale: The One (1) Bedroom Market

It's currently July of 2011, we are half way through 2011 and in the thick of the summer selling and buying season for New York City Real Estate. If you are looking for a Greenwich Village New York City NYC condo for sale than you have come to the right place.

The One Bedroom Greenwich Village or West Village or East Village Condo market is extremely competitive. I can't stress that enough. This is a highly desired segment of the market with very little inventory. When a well priced apartment comes on the market, expect a big turn out at the first open house and multiple offers to come in shortly. Here are a few examples of Greenwich village condos for sale that have sold or gone into contract recently that are a good example of what's going on in the market.

1 Irving Place-Zeckendorf Towers: A very well renovated 670 sq ft 1 Bedroom condo came on the market for $850,000. That is a very attractive price for a well renovated full time doorman apartment in close proximity to Union Square. At the first open house there were over 15 different groups through and the offers came in after the first showing. The apartment recently closed for $845,000 all cash, less than 1% off the original asking price.

60 East 8th Street-Georgetown Plaza: Another extremely well renovated very large, 850 sq ft with outdoor space came on the market asking $1,100,000. This apartment was one of the highest priced 1 bedrooms to come on the market at Georgetown Plaza. This is a very desired building because of it's location, amenities(including roof top deck and pool). There were offers close to the asking price, hasn't closed yet but it was very

311 East 11th Street-Technically in the East Village, I went to the first open house and saw many people who were at Greenwich Village open houses the week before also at this one. The first resale in a new development condo building was asking $835,000 and there were multiple offers above the asking price. Interested to see what happens here.

Summary: If you are looking for a One Bedroom Condo for sale in Greenwich Village or the West Village or East Village the first thing you should do is educate yourself in the market. My experience is that most buyers don't expect the amount of competition that they encounter and certainly not multiple buyer's bidding for an apartment.

I just did a search and found 20 apartments available under the 1 Bedroom condo category for Greenwich Village and the West Village combined. Prices pretty much start at $900,000 and typically top off around $2.5 million.

If you are thinking of purchasing a 1 bedroom condo in Greenwich Village or nearby neighborhoods contact me today at (917) 837-8869 and we can discuss your specific situation.