Profile picture for TarrHL

Why are so many listings in Manhatten priced so low?

As an example, some of the listings have a Zillow estimate of over $1 million but the asking price is only $10,000. I'm not searching for rentals.
  • April 30 2014 - New York
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Answers (7)

are these fsbo or realtor listed?

I agree with jay, it may be a parking spot or timeshare...

lets us know who figures this one out.
  • July 14 2014
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Profile picture for Gabilan Properties
Walk in with $10,000 cash and see if they take it!
  • July 14 2014
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Profile picture for Jay Batra
Hi, those prices are either not accurate or are for time shared apartments or parking spots. I believe the lowest prices studio in NYC is around 170k. 

 
  • July 14 2014
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Profile picture for wetdawgs
Have you phoned any of them?   I suspect they'd be shocked to see what their system is doing to their listings.   I clicked through on two or three, and all say "for sale" at the source.  

You can either save you time and enter a minimum realistic price for your search or you can be a good samaritan and call a number of those that are likely to be rentals and educate the agent that their rentals are showing "for sale".

  • April 30 2014
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Profile picture for TarrHL
If you just do a quick search for Manhatten real estate, the first 25 or so that come up for sale are priced below $40,000. There can't be that many errors in the coding. An example of an apartment that's priced at $35,000 is at 205 E 59th St. No way this one would be sold for that price. Just looking for clarification.
  • April 30 2014
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Profile picture for wetdawgs
Usually something like this happens when a rental listing is miscoded as "for sale".  If you are looking to purchase, put in a minimum realistic price so you don't pick up the errors in your search.
  • April 30 2014
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That does sound odd.  Perhaps the asking price is for a studio, condo or some other arrangement under the footprint of the $1 million dollar building.   I know in cities parking spaces are sold for $10,000 and up.
Apartments are sold all the time.
 
  • April 30 2014
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