Is a Manhattan apartment worth the same as an Italian island?
It’s no secret that New York City real estate is expensive.
The median asking price for a home in Manhattan is about US$1.7 million, according to StreetEasy – and that will not necessarily give you much space or many amenities to speak of.
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In the West Village, one of the most coveted neighbourhoods in the city, US$1.7 million will buy you a two-bedroom loft, with no outdoor space or amenities apart from a laundry room and storage.
If you increase your budget to US$2.2 million, you can get a two-bedroom condo at Lincoln Square, which has about 1,273 square feet of living space and comes with building amenities such as a 60-foot swimming pool and sauna, a lounge, fitness centre, and indoor basketball and squash courts.
You can buy an entire 37-acre private island in Italy for the same price as a two-bedroom Manhattan apartment.
An island about 985 feet off the coast of Sicily in southern Italy is on sale for US$2.2 million, The New York Times reported.
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Anna Brunellini, a representative from Agenzia Romolini Immobiliare, which holds the listing with Christie’s International Real Estate, told Business Insider that while the official asking price is €2.9 million (US$3.3 million), the owner would accept offers in the region of US$2.2 million.
There is no place to live on the island: The only structure is a 16th-century tower in need of restoration. The tower was originally built as part of a defence system protecting Sicily against attacks from Corsair pirate ships, according to the listing.
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Brunellini said the current owner has never used the island and that it’s been “neglected” for a long time.
“The owner is open to selling the property to anybody who wishes to restore the tower to convert it into a private residence, representative building, corporate image or creating a museum allowing tourists to appreciate not just the naturalistic value of the island but also the historical, artistic and archaeological ones,” Brunellini said.
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The island is a five-minute boat ride from the coastal town of Isola delle femmine, and about 40 miles from Palermo, Sicily’s largest city.
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This article originally appeared on Business Insider.
- The median asking price for a home in Manhattan, New York City is about US$1.7 million, according to StreetEasy