The SoHo District in lower Manhattan in New York City is known for its Bohemian culture, loaded as it is with artists’ lofts, art galleries and museums, as well as a selection of upscale boutiques..And pricey homes..The average price for a one-bedroom apartment in SoHo is US$1,962,452, not including condo fees or taxes.. SoHo condo - exteriorSoHo condo - exterior .With that, it’s understandable New Yorkers were incredulous when a one-bedroom unit was listed for sale for US$250,000..Until they saw it..The 603-sq.-ft. condo is the cheapest listing in the neighborhood, a basement dwelling just steps from Dominique Ansel Bakery, Chanel and a restaurant called The Dutch, where a 28-day dry-aged ribeye goes for $165..The listing information is ‘creative’ if not stretching the truth a bit..Well, maybe except the opening line..“Authentic and original lower ground loft space untouched since the 1970s, located on arguably downtown’s best block, this one bedroom, one bathroom is offered at a truly outstanding price.”. SoHo condo - sleeping areaSoHo condo - sleeping area .“With direct private access from Prince Street and ceiling heights close to 9 ft., this generously sized property could service a variety of needs, including its current use, laid out with a bedroom at the home’s southern entrance and leading through to an open kitchen, with substantial living and dining spaces in the rear. Access to the building’s common courtyard culminates an efficient use of space, with industrial features.”.“Surrounded by the cosmopolitan denizens, restaurants and shopping that define SoHo as the world class neighborhood it is, this property also has the advantage of being central to a variety of subway lines & public transport.”.“As unique as New York, a property like this must be seen to be believed.”. SoHo condo - yardSoHo condo - yard .Generously sized? Industrial features? Unique? Common courtyard?.Look at the photos — the place is a dump!.Paint's peeling off doors and floors, and the ‘industrial features’ include exposed pipes and lights, crossing through the entire space..The bathroom is squeezed into a closet, two small windows are at either end, and the ‘bedroom’ is so narrow, the previous occupant appears to have slept on a mattress in the ‘living room’, facing the ‘open-plan kitchen.’. SoHo condo - kitchenSoHo condo - kitchen .Amenities? Yep: Pets are allowed and the ‘common courtyard,’ is an outdoor space where residents on the upper floors likely dump their trash before the bi-weekly pickup..In addition to the quarter-of-a-million dollars price tag, the monthly taxes are US$823 and the monthly condo fee is US$567..Unbelievably, the property is already fetching offers over the asking price, said Kane Manera, the salesperson for Corcoran Group, which is handling the listing..“I have around 40 offers and I’d estimate 20 are well over asking, with too many inquiries a day to count,” Manera told The New York Post..Buyers looking for a one-bedroom downtown pad said they were intrigued by the listing — until they clicked on it.. SoHo condo - living areaSoHo condo - living area .“This extremely low price obviously jumped out at me,” said Phil Toronto, a 35-year-old venture capitalist. “But looking at the photos, I immediately lost interest. This place literally looks straight out of a movie in a bad way. Is that a steam pipe in the middle of the living room?”.“I knew going into this search that finding an affordable one-bedroom in the city would be difficult, but I didn’t realize that my options would be meth dens or having dead bodies for roommates at this price point,” said Eli Goodman, a 28-year-old consultant..Will it sell for US$250,000? Absolutely, it’s in SoHo, where the average price is pushing US$2 million..Adding a full-on renovation of even $200,000 to the selling price would turn a healthy profit.
