There's no doubt that having a zip in New York City means having the world at your fingertips. No other city in the world quite compares with the advantages New York offers as far as jobs, entertainment opportunities, and general lifestyle. It's the City that Never Sleeps, and has enjoyed a position in the penthouse as far as World Cities are concerned for almost a century.
Of course, living in New York City means you have to expect to pay high prices for real estate, for the same reasons that make it appealing in the first place. Former Toronto residents who sold property on Yonge and Eglinton may have thought they got a good price for their condo. Upon arriving in New York, they will quickly realize that what they made on the sale in what is arguably Canada's least affordable market is a pittance compared to what they have to pay in New York City.
A look at the average price of a condo in Manhattan, one of New York's most popular residential areas, tells the tale. One bedroom condos similar to what you might see in a condo for sale in Arlington TX will sell at double the price. That's right; the average price for a one bedroom apartment in New York is an incredible $850,000, and that's in a real estate market considered depressed!
As far as units larger than that, all we can say is that you had better have sold some large Mississauga condos if you're hoping for a two bedroom in New York. They are almost double the price of single bedrooms, selling on average at $1,600,000. That's a steep price to pay for what is essentially a very small place to live.
Just as Brampton real estate sees prices rise because of the proximity of larger cities, so too do outlying areas of New York City reflect the prices in town. Lagrange NY Homes are priced higher than equivalent properties in the state and country as people seek shelter from the exorbitant costs of living in New York. In turn, the prices in Fishkill, Jersey City, and other locations are also pushed up.
In short, if you want to take advantage of all New York has to offer, you need to be prepared to pay a steep price. Big city living means big city prices, and New York is the definition of both.