One-bedroom prices, too, have dropped — by nearly 20 percent — making them affordable to more people.
One-bedrooms in postwar co-ops cost $120,000 to $190,000, Mr. Karatzas said; three-bedroom prices are in the mid- to high $200,000s.
Farther north, on 43rd Avenue in Sunnyside, Mr. Cooper's firm sold a renovated one-bedroom for $184,000; he says one-bedroom prices run from $180,000 to $230,000, depending on location and condition.
She calculated the asking price at about $900 per square foot by looking at two-bedroom prices that range from $750 to $1,000 per square foot and discounting for the fact that the building is not on one of the area's main streets.
For town homes with three or four bedrooms prices start at about $800,000.
He wanted a sunny one-bedroom priced in the $500,000s.
(The building has studios to three-bedrooms, priced at $270,000 to $1.6 million).
And the building's two-bedrooms, priced well over $2 million, were out of reach.
Also developed with financing from the Housing Development Corporation, the building has one- to three-bedrooms priced from $134,000 to $202,000.
"I saw every single one-bedroom priced under $800,000 in Chelsea until I started ruling out certain buildings," she said.
It has everything from studios to three-bedrooms, priced from $900,000 to $2.6 million.
