Brick Underground has an interesting article about paring down your wish list for your NYC apartment as a way to get the price to a more affordable level. Some of their tips include:
1- Eliminating the doorman which reduces the price by as much as 10%
2- Searching for an apartment in NYC with a rooftop deck instead of it’s own outdoor terrace or space. Typically, outdoor space can add 50k or more depending on the size of the space as opposed to a common roof top deck which is considerably cheaper.
3- Giving up on a washer/dryer in the apartment. A washer/dryer in the apartment may be de rigueur for new developments but outside of that, very few apartments have their own W/D.
4- Buying a COOP instead of a condo. Coops are generally at least 10% cheaper than a similar condo. The downside is that you are probably limited as to how long you can rent out the apartment or if at all. Outside of that, maintenance is typically higher but if the numbers add up and you don’t need to rent out the apartment, choosing a coop may make more sense.