---
title: "$2 Million Homes for Sale in NYC"
description: "1,302 New York homes between $2 million and $5 million. The only price range where all three boroughs compete, and where Brooklyn buys a house rather than an apartment."
url: "https://realestaterebatesnewyork.com/buy/multi-million-dollar-homes-nyc/2m-to-5m"
source: "Real Estate Rebate Team"
---

Real Estate Rebate Team


Licensed Broker NY & NJ · License: 10491211335


New York City · $2 Million to $5 Million

# $2 Million to $5 Million Homes Across New York City

1,302 homes listed between $2 million and $5 million. This is the widest part of the New York market and the one range where the borough you choose changes what you are buying, not just where it sits.


## Showing 1,302 homes from $2 million to $5 million


###


Buyer Advantage Est.


###


Buyer Advantage Est.


###


Buyer Advantage Est.


###


Buyer Advantage Est.


###


Buyer Advantage Est.


###


Buyer Advantage Est.


###


Buyer Advantage Est.


###


Buyer Advantage Est.


###


Buyer Advantage Est.


## The one price range where the borough is still a real choice


Between $2 million and $5 million the inventory is spread across **99 neighbourhoods**, and the five largest hold only 24 per cent of it. Every price range above this one narrows fast; this is the range where a buyer can still genuinely weigh one part of the city against another.

Brooklyn at this budget is not a cheaper Manhattan. It is a different product: 40 per cent of Brooklyn listings here are a whole house against 7 per cent in Manhattan, the median home is 1,930 square feet against 1,653, and it runs to three bedrooms where Manhattan runs to two. Manhattan carries almost all the co-operative stock, at 23 per cent against 1 in Brooklyn.

Most of the inventory sits in a familiar handful of places: [Lenox Hill](https://realestaterebatesnewyork.com/neighborhoods/new-york-city/manhattan/lenox-hill), [Upper West Side](https://realestaterebatesnewyork.com/neighborhoods/new-york-city/manhattan/upper-west-side), [Lincoln Square](https://realestaterebatesnewyork.com/neighborhoods/new-york-city/manhattan/lincoln-square), [Williamsburg](https://realestaterebatesnewyork.com/neighborhoods/new-york-city/brooklyn/williamsburg), [Midtown East](https://realestaterebatesnewyork.com/neighborhoods/new-york-city/manhattan/east-midtown), [Sutton Place](https://realestaterebatesnewyork.com/neighborhoods/new-york-city/manhattan/sutton-place), [Tribeca](https://realestaterebatesnewyork.com/neighborhoods/new-york-city/manhattan/tribeca) and [Chelsea](https://realestaterebatesnewyork.com/neighborhoods/new-york-city/manhattan/chelsea). The [full multi-million market](https://realestaterebatesnewyork.com/buy/multi-million-dollar-homes-nyc) runs from here to the top.


Brooklyn asks about 6 per cent less, gives 17 per cent more space, and charges 18 per cent less per foot. Four in ten of those Brooklyn homes are a whole house. Whether that is a better buy depends entirely on whether a house is what you wanted.

Market snapshot as of August 22, 2026. Median size and price per square foot are based on listings that report interior square footage.Borough
Homes
Median asking price
Median size (sq ft)
Median $/sq ft
Houses & townhouses
Manhattan
1,020
$2,999,925
1,653
$1,863
7%
Brooklyn
248
$2,825,000
1,930
$1,528
40%
Queens
40
$2,600,000
1,984
$1,561
40%


Manhattan, Brooklyn and Queens compared on homes listed between $2 million and $5 million, with the number of homes, median asking price, median size, median price per square foot, and the share that are houses or townhouses.


Midtown East is the most expensive foot on this list at $2,383 and one of the smallest median homes at 1,339 square feet. Sutton Place is the cheapest at $1,301 on 1,912 square feet. At this budget the per-foot spread between neighbourhoods is wider than the spread in asking price, which is why a median price on its own tells you very little.

Market snapshot as of August 22, 2026.Neighbourhood
Homes
Median asking price
Median size (sq ft)
Median $/sq ft
Lenox Hill
89
$3,100,000
1,655
$1,664
Upper West Side
70
$3,250,000
1,596
$1,925
Lincoln Square
60
$2,894,000
1,492
$1,895
Williamsburg
51
$3,200,000
1,714
$1,940
Midtown East
49
$2,995,000
1,339
$2,383
Sutton Place
45
$2,850,000
1,912
$1,301
Tribeca
44
$3,750,000
1,684
$2,075
Chelsea
43
$3,250,000
1,637
$1,936


The eight New York City neighbourhoods with the most homes listed between $2 million and $5 million, each with the number of homes, the median asking price, the median size, and the median price per square foot.


## What it takes to buy at this level


A $2,995,000 purchase with 30% down leaves a loan of about $2,096,500. At 6.5% over 30 years that is roughly $13,252 a month, and common charges plus property tax add about $4,786 on the median condominium in this range. Call it $18,038 a month before insurance or utilities.

Lenders commonly want total housing cost under roughly 30 per cent of gross income, which puts that near $721,519 a year. A co-operative board is free to want more, and to want liquid assets left after closing measured in years of that monthly figure rather than months. Manhattan carries almost all the co-op stock at this budget, so the board question is really a borough question too. The [condo versus co-op guide](https://realestaterebatesnewyork.com/guides/condo-vs-coop-nyc) sets out what changes, and the [mortgage calculator](https://realestaterebatesnewyork.com/calculators/mortgage-calculator) takes your own numbers.

Mansion tax starts at 1.25% here and steps up at $3 million. On a $2,995,000 purchase that is $44,925, paid by the buyer on the whole price. The [closing cost calculator](https://realestaterebatesnewyork.com/calculators/buyer-closing-cost-calculator) totals the rest.


BUYER FAQ
## Frequently asked questions

What salary do you need to afford a $2 million home in NYC?+
As arithmetic: $2 million with 30% down is a $1.4 million loan, roughly $8,850 a month at 6.5% over 30 years, plus common charges and tax that run near $4,786 on the median condominium in this range. That is around $13,600 a month, and at the 30 per cent of gross income lenders typically look for, about $545,000 a year.

That is the lender's test, not the building's. A co-operative board can set its own and frequently does, asking for a larger down payment and for post-closing liquidity measured in years. Model your own numbers in the [mortgage calculator](https://realestaterebatesnewyork.com/calculators/mortgage-calculator) rather than working from a rule of thumb.


What is the mortgage on a $3 million house?+
With 30% down, a $2.1 million loan at 6.5% over 30 years is roughly $13,270 a month before taxes and charges. Add the carrying cost and the real figure at this price is closer to $18,000.

Move the down payment to 40% and the loan payment falls to about $11,375. Move the rate a point and it moves several hundred dollars either way. It is worth modelling rather than quoting, and worth checking what the building requires before checking what the lender allows.


Is Brooklyn cheaper than Manhattan at $2 million to $5 million?+
Per square foot, yes, and by a wide margin: $1,528 against $1,863, about 18 per cent less. The median Brooklyn home in this range is 1,930 square feet against Manhattan's 1,653.

The more useful difference is what you get. 40 per cent of Brooklyn listings at this budget are a whole house or townhouse, against 7 per cent in Manhattan, and Brooklyn is almost entirely condominium and house stock where Manhattan is 23 per cent co-operative. [See Brooklyn homes for sale](https://realestaterebatesnewyork.com/buy/newyorkcity/brooklyn).


Are most homes in this range co-ops or condos?+
Condominiums, but this is the range with the largest co-operative share of any price range above $2 million. In Manhattan specifically, 23 per cent of listings between $2 million and $5 million are co-operatives. In Brooklyn it is 1 per cent.

The choice matters more here than higher up, because at this budget the co-op is often the way to buy meaningfully more space in a prime location. What it costs is board approval, a likely cap on financing, and rules about letting the home. The [condo versus co-op guide](https://realestaterebatesnewyork.com/guides/condo-vs-coop-nyc) covers both sides.


Regis Roumila

Licensed Real Estate Broker · NY & NJ
NY DOS Licence10491211335
MembershipsREBNY & NAR Member
ExperienceOver 25 Years of Local Expertise


## Work with a licensed New York broker
Every eligible purchase in this range earns a Buyer Commission Share: half of the buyer-side commission actually received on the transaction, credited to you as Savings at Closing.

Around 1,302 homes sit between $2 million and $5 million today, and this is the price range where co-operative board requirements vary most. Tell me how you plan to finance the purchase and I will narrow it to the buildings that will actually approve it.
[Schedule a consultation](https://realestaterebatesnewyork.com/contact)[How the Buyer Advantage works](https://realestaterebatesnewyork.com/buyer-advantage)


Chat with us on WhatsApp


NEW YORK CITY


PROPERTY TYPE
$2M – $5M
BEDS
Filter
VIEW: LIST
SORT: NEWEST


[Residential·Noho, Manhattan
### 21 Astor Place #2-G, New York, NY 10003
2 Beds · 3 Baths · 1,800 sqft$3,750,000●ActiveCourtesy of Nest Seekers LLC](https://realestaterebatesnewyork.com/buy/newyorkcity/manhattan/10003/21-astor-place-2g-ny-10003)[Residential·Greenpoint, Brooklyn
### 58 DIAMOND Street, Brooklyn, NY 11222
6 Beds · 3 Baths · 2,700 sqft$2,799,000●ActiveCourtesy of The Agency Brokerage](https://realestaterebatesnewyork.com/buy/newyorkcity/brooklyn/11222/58-diamond-street-ny-11222)[Residential·Murray Hill, Manhattan
### 330 East 38th Street #50D, New York, NY 10016
2 Beds · 2 Baths · 1,372 sqft$2,195,000●ActiveCourtesy of Corcoran Group](https://realestaterebatesnewyork.com/buy/newyorkcity/manhattan/10016/330-east-38th-street-50d-ny-10016)[Residential·Flatiron, Manhattan
### 10 Madison Square #2G, New York, NY 10010
3 Beds · 4 Baths · 2,365 sqft$4,998,000●ActiveCourtesy of Modlin Group LLC](https://realestaterebatesnewyork.com/buy/newyorkcity/manhattan/10010/10-madison-square-2g-ny-10010)[Residential·Crown Heights, Brooklyn
### 819 DEAN Street, Brooklyn, NY 11238
5 Beds · 6 Baths · 4,615 sqft$4,698,000●ActiveCourtesy of Leslie J Garfield & Co Inc](https://realestaterebatesnewyork.com/buy/newyorkcity/brooklyn/11238/819-dean-street-ny-11238)[Residential·Hell's Kitchen, Manhattan
### 445 West 54th Street #1E, New York, NY 10019
3 Beds · 2 Baths · 1,600 sqft$2,000,000●ActiveCourtesy of Corcoran Group](https://realestaterebatesnewyork.com/buy/newyorkcity/manhattan/10019/445-west-54th-street-1e-ny-10019)[Residential·Hell's Kitchen, Manhattan
### 322 West 57th Street #39F, New York, NY 10019
2 Beds · 2 Baths · 1,168 sqft$2,400,000●ActiveCourtesy of Brown Harris Stevens Residential Sales LLC](https://realestaterebatesnewyork.com/buy/newyorkcity/manhattan/10019/322-west-57th-street-39f-ny-10019)[Residential·Williamsburg, Brooklyn
### 308 North 7th Street #2F, Brooklyn, NY 11211
3 Beds · 3 Baths · 1,529 sqft$2,850,000●ActiveCourtesy of Compass](https://realestaterebatesnewyork.com/buy/newyorkcity/brooklyn/11211/308-north-7th-street-2f-ny-11211)[Residential·East Village, Manhattan
### 52 East 4th Street #10, New York, NY 10003
2 Beds · 2 Baths · 1,359 sqft$2,500,000●ActiveCourtesy of Douglas Elliman Real Estate](https://realestaterebatesnewyork.com/buy/newyorkcity/manhattan/10003/52-east-4th-street-10-ny-10003)[Residential·Bushwick, Brooklyn
### 1259 Jefferson Avenue, Brooklyn, NY 11221
5 Beds · 5 Baths · 3,317 sqft$2,175,000●ActiveCourtesy of Compass](https://realestaterebatesnewyork.com/buy/newyorkcity/brooklyn/11221/1259-jefferson-avenue-ny-11221)[Residential·Sutton Place, Manhattan
### 212 East 57th Street #21A, New York, NY 10022
3 Beds · 4 Baths · 1,923 sqft$2,475,000●ActiveCourtesy of Corcoran Group](https://realestaterebatesnewyork.com/buy/newyorkcity/manhattan/10022/212-east-57th-street-21a-ny-10022)[Residential·Financial District, Manhattan
### 20 PINE Street #907/908, New York, NY 10005
2 Beds · 3 Baths · 1,883 sqft$2,000,000●ActiveCourtesy of Serhant](https://realestaterebatesnewyork.com/buy/newyorkcity/manhattan/10005/20-pine-street-907908-ny-10005)[Residential·Tribeca, Manhattan
### 27 North MOORE Street #9B, New York, NY 10013
2 Beds · 2 Baths$3,750,000●ActiveCourtesy of Corcoran Group](https://realestaterebatesnewyork.com/buy/newyorkcity/manhattan/10013/27-north-moore-street-9b-ny-10013)[Residential·Ocean Hill, Brooklyn
### 288 Sumpter Street, Brooklyn, NY 11233
12 Beds · 4 Baths · 7,468 sqft$2,500,000●ActiveCourtesy of RE Max Edge Group](https://realestaterebatesnewyork.com/buy/newyorkcity/brooklyn/11233/288-sumpter-street-ny-11233)[Residential·Lincoln Square, Manhattan
### 155 West 68th Street #404, New York, NY 10023
6 Beds · 3 Baths · 2,449 sqft$3,695,000●ActiveCourtesy of Corcoran Group](https://realestaterebatesnewyork.com/buy/newyorkcity/manhattan/10023/155-west-68th-street-404-ny-10023)[Residential·Upper East Side, Manhattan
### 303 East 77th Street #16-A, New York, NY 10075
3 Beds · 3 Baths · 1,691 sqft$2,695,000●ActiveCourtesy of R New York](https://realestaterebatesnewyork.com/buy/newyorkcity/manhattan/10075/303-east-77th-street-16a-ny-10075)[Residential·Greenpoint, Brooklyn
### 143 Milton Street, Brooklyn, NY 11222
3 Beds · 3 Baths · 2,330 sqft$3,995,000●ActiveCourtesy of Nest Seekers LLC](https://realestaterebatesnewyork.com/buy/newyorkcity/brooklyn/11222/143-milton-street-ny-11222)[Residential·Upper East Side, Manhattan
### 200 East 62nd Street #5D, New York, NY 10065-8327
3 Beds · 3 Baths · 1,988 sqft$3,295,000●ActiveCourtesy of William J Farmer Inc](https://realestaterebatesnewyork.com/buy/newyorkcity/manhattan/10065-8327/200-east-62nd-street-5d-ny-10065-8327)[Residential·Battery Park City, Manhattan
### 70 Little West Street #23-E, New York, NY 10004
3 Beds · 3 Baths · 1,737 sqft$3,670,000●ActiveCourtesy of Battery Park Realty Inc](https://realestaterebatesnewyork.com/buy/newyorkcity/manhattan/10004/70-little-west-street-23e-ny-10004)[Sponsor Residence·Residential·Kips Bay, Manhattan
### 201 East 23rd Street #3B, New York, NY 10010
2 Beds · 2 Baths · 1,120 sqft$2,185,000●ActiveCourtesy of Compass](https://realestaterebatesnewyork.com/buy/newyorkcity/manhattan/10010/201-east-23rd-street-3b-ny-10010)[Sponsor Residence·Residential·Park Slope, Brooklyn
### 359 13th Street #1, Brooklyn, NY 11215
2 Beds · 3 Baths · 2,250 sqft$2,995,000●ActiveCourtesy of Douglas Elliman Real Estate](https://realestaterebatesnewyork.com/buy/newyorkcity/brooklyn/11215/359-13th-street-1-ny-11215)[Residential·Lenox Hill, Manhattan
### 136 East 64th Street #9D, New York, NY 10065
2 Beds · 3 Baths$2,650,000●ActiveCourtesy of Brown Harris Stevens Residential Sales LLC](https://realestaterebatesnewyork.com/buy/newyorkcity/manhattan/10065/136-east-64th-street-9d-ny-10065)[Residential·Yorkville, Manhattan
### 400 East 84th Street #41B, New York, NY 10028
3 Beds · 3 Baths · 1,625 sqft$3,480,000●ActiveCourtesy of Corcoran Sunshine Marketing Group](https://realestaterebatesnewyork.com/buy/newyorkcity/manhattan/10028/400-east-84th-street-41b-ny-10028)[Sponsor Residence·Residential·Flatiron, Manhattan
### 95 Madison Avenue #14C, New York, NY 10016
2 Beds · 2 Baths · 1,135 sqft$2,580,000●ActiveCourtesy of GLOBAL REAL ESTATE VENTURES GROUP LLC](https://realestaterebatesnewyork.com/buy/newyorkcity/manhattan/10016/95-madison-avenue-14c-ny-10016)

Buyer savings estimates are illustrative only. Actual amounts vary and are subject to transaction terms, lender approval, applicable law and listing-side compensation.


RLS IDX Data display by Real Estate Rebate Team. This information is not verified for authenticity or accuracy and is not guaranteed and may not reflect all real estate activity in the market. ©2026 The Real Estate Board of New York, Inc., All rights reserved. IDX information is provided exclusively for consumers’ personal, non-commercial use and it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.

All information furnished regarding property for sale, rental or financing is from sources deemed reliable, but no warranty or representation is made as to the accuracy thereof and same is submitted subject to errors, omissions, change of price, rental or other conditions, prior sale, lease or financing or withdrawal without notice. All dimensions are approximate. For exact dimensions, you must hire your own architect or engineer and the number of bedrooms listed is for informational purposes and is not a legal conclusion. Please consult with your own architect or engineer for exact dimensions and legal specifications.

```json
{"@context":"https://schema.org","@type":"RealEstateAgent","@id":"https://realestaterebatesnewyork.com/#organization","name":"Real Estate Rebate Team","alternateName":"Real Estate Rebate NYC","url":"https://realestaterebatesnewyork.com","logo":"https://realestaterebatesnewyork.com/logo_black.png","image":"https://realestaterebatesnewyork.com/logo_black.png","description":"Real Estate Rebate Team is a licensed NYC residential brokerage helping buyers compare condos, co-ops, penthouses, townhouses, new developments, sponsor units, closing costs, mansion tax exposure, and potential buyer savings at closing.","email":"info@real-estate-rebate.com","telephone":"+1-315-514-0164","address":{"@type":"PostalAddress","streetAddress":"257 13th Street","addressLocality":"Brooklyn","addressRegion":"NY","postalCode":"11215","addressCountry":"US"},"geo":{"@type":"GeoCoordinates","latitude":40.6643,"longitude":-73.9904},"priceRange":"$$$","areaServed":{"@type":"City","name":"New York","@id":"https://en.wikipedia.org/wiki/New_York_City"},"sameAs":["https://www.facebook.com/profile.php?id=61550227271910","https://www.instagram.com/real_estate_rebate_team2023/","https://www.linkedin.com/in/real-estate-rebate-team-a8201526b/","https://x.com/Realrebate10011","https://www.tiktok.com/@realestaterebateteam"]}
{"@context":"https://schema.org","@type":"CollectionPage","@id":"https://realestaterebatesnewyork.com/buy/multi-million-dollar-homes-nyc/2m-to-5m#collectionpage","url":"https://realestaterebatesnewyork.com/buy/multi-million-dollar-homes-nyc/2m-to-5m","name":"$2 Million Homes for Sale in NYC | Manhattan & Brooklyn","description":"1,302 New York homes between $2 million and $5 million. The only price range where all three boroughs compete, and where Brooklyn buys a house rather than an apartment.","isPartOf":{"@id":"https://realestaterebatesnewyork.com/#website"},"publisher":{"@id":"https://realestaterebatesnewyork.com/#organization"}}
{"@context":"https://schema.org","@type":"ItemList","@id":"https://realestaterebatesnewyork.com/buy/multi-million-dollar-homes-nyc/2m-to-5m#itemlist","name":"$2 Million Homes for Sale in NYC | Manhattan & Brooklyn","numberOfItems":24,"itemListElement":[{"@type":"ListItem","position":1,"url":"https://realestaterebatesnewyork.com/buy/newyorkcity/manhattan/10003/21-astor-place-2g-ny-10003","name":"21 Astor Place #2-G, New York, NY 10003"},{"@type":"ListItem","position":2,"url":"https://realestaterebatesnewyork.com/buy/newyorkcity/brooklyn/11222/58-diamond-street-ny-11222","name":"58 DIAMOND Street, Brooklyn, NY 11222"},{"@type":"ListItem","position":3,"url":"https://realestaterebatesnewyork.com/buy/newyorkcity/manhattan/10016/330-east-38th-street-50d-ny-10016","name":"330 East 38th Street #50D, New York, NY 10016"},{"@type":"ListItem","position":4,"url":"https://realestaterebatesnewyork.com/buy/newyorkcity/manhattan/10010/10-madison-square-2g-ny-10010","name":"10 Madison Square #2G, New York, NY 10010"},{"@type":"ListItem","position":5,"url":"https://realestaterebatesnewyork.com/buy/newyorkcity/brooklyn/11238/819-dean-street-ny-11238","name":"819 DEAN Street, Brooklyn, NY 11238"},{"@type":"ListItem","position":6,"url":"https://realestaterebatesnewyork.com/buy/newyorkcity/manhattan/10019/445-west-54th-street-1e-ny-10019","name":"445 West 54th Street #1E, New York, NY 10019"},{"@type":"ListItem","position":7,"url":"https://realestaterebatesnewyork.com/buy/newyorkcity/manhattan/10019/322-west-57th-street-39f-ny-10019","name":"322 West 57th Street #39F, New York, NY 10019"},{"@type":"ListItem","position":8,"url":"https://realestaterebatesnewyork.com/buy/newyorkcity/brooklyn/11211/308-north-7th-street-2f-ny-11211","name":"308 North 7th Street #2F, Brooklyn, NY 11211"},{"@type":"ListItem","position":9,"url":"https://realestaterebatesnewyork.com/buy/newyorkcity/manhattan/10003/52-east-4th-street-10-ny-10003","name":"52 East 4th Street #10, New York, NY 10003"},{"@type":"ListItem","position":10,"url":"https://realestaterebatesnewyork.com/buy/newyorkcity/brooklyn/11221/1259-jefferson-avenue-ny-11221","name":"1259 Jefferson Avenue, Brooklyn, NY 11221"},{"@type":"ListItem","position":11,"url":"https://realestaterebatesnewyork.com/buy/newyorkcity/manhattan/10022/212-east-57th-street-21a-ny-10022","name":"212 East 57th Street #21A, New York, NY 10022"},{"@type":"ListItem","position":12,"url":"https://realestaterebatesnewyork.com/buy/newyorkcity/manhattan/10005/20-pine-street-907908-ny-10005","name":"20 PINE Street #907/908, New York, NY 10005"},{"@type":"ListItem","position":13,"url":"https://realestaterebatesnewyork.com/buy/newyorkcity/manhattan/10013/27-north-moore-street-9b-ny-10013","name":"27 North MOORE Street #9B, New York, NY 10013"},{"@type":"ListItem","position":14,"url":"https://realestaterebatesnewyork.com/buy/newyorkcity/brooklyn/11233/288-sumpter-street-ny-11233","name":"288 Sumpter Street, Brooklyn, NY 11233"},{"@type":"ListItem","position":15,"url":"https://realestaterebatesnewyork.com/buy/newyorkcity/manhattan/10023/155-west-68th-street-404-ny-10023","name":"155 West 68th Street #404, New York, NY 10023"},{"@type":"ListItem","position":16,"url":"https://realestaterebatesnewyork.com/buy/newyorkcity/manhattan/10075/303-east-77th-street-16a-ny-10075","name":"303 East 77th Street #16-A, New York, NY 10075"},{"@type":"ListItem","position":17,"url":"https://realestaterebatesnewyork.com/buy/newyorkcity/brooklyn/11222/143-milton-street-ny-11222","name":"143 Milton Street, Brooklyn, NY 11222"},{"@type":"ListItem","position":18,"url":"https://realestaterebatesnewyork.com/buy/newyorkcity/manhattan/10065-8327/200-east-62nd-street-5d-ny-10065-8327","name":"200 East 62nd Street #5D, New York, NY 10065-8327"},{"@type":"ListItem","position":19,"url":"https://realestaterebatesnewyork.com/buy/newyorkcity/manhattan/10004/70-little-west-street-23e-ny-10004","name":"70 Little West Street #23-E, New York, NY 10004"},{"@type":"ListItem","position":20,"url":"https://realestaterebatesnewyork.com/buy/newyorkcity/manhattan/10010/201-east-23rd-street-3b-ny-10010","name":"201 East 23rd Street #3B, New York, NY 10010"},{"@type":"ListItem","position":21,"url":"https://realestaterebatesnewyork.com/buy/newyorkcity/brooklyn/11215/359-13th-street-1-ny-11215","name":"359 13th Street #1, Brooklyn, NY 11215"},{"@type":"ListItem","position":22,"url":"https://realestaterebatesnewyork.com/buy/newyorkcity/manhattan/10065/136-east-64th-street-9d-ny-10065","name":"136 East 64th Street #9D, New York, NY 10065"},{"@type":"ListItem","position":23,"url":"https://realestaterebatesnewyork.com/buy/newyorkcity/manhattan/10028/400-east-84th-street-41b-ny-10028","name":"400 East 84th Street #41B, New York, NY 10028"},{"@type":"ListItem","position":24,"url":"https://realestaterebatesnewyork.com/buy/newyorkcity/manhattan/10016/95-madison-avenue-14c-ny-10016","name":"95 Madison Avenue #14C, New York, NY 10016"}]}
{"@context":"https://schema.org","@type":"FAQPage","@id":"https://realestaterebatesnewyork.com/buy/multi-million-dollar-homes-nyc/2m-to-5m#faq","mainEntity":[{"@type":"Question","name":"What salary do you need to afford a $2 million home in NYC?","acceptedAnswer":{"@type":"Answer","text":"As arithmetic: $2 million with 30% down is a $1.4 million loan, roughly $8,850 a month at 6.5% over 30 years, plus common charges and tax that run near $4,786 on the median condominium in this range. That is around $13,600 a month, and at the 30 per cent of gross income lenders typically look for, about $545,000 a year. That is the lender's test, not the building's. A co-operative board can set its own and frequently does, asking for a larger down payment and for post-closing liquidity measured in years. Model your own numbers in the mortgage calculator rather than working from a rule of thumb."}},{"@type":"Question","name":"What is the mortgage on a $3 million house?","acceptedAnswer":{"@type":"Answer","text":"With 30% down, a $2.1 million loan at 6.5% over 30 years is roughly $13,270 a month before taxes and charges. Add the carrying cost and the real figure at this price is closer to $18,000. Move the down payment to 40% and the loan payment falls to about $11,375. Move the rate a point and it moves several hundred dollars either way. It is worth modelling rather than quoting, and worth checking what the building requires before checking what the lender allows."}},{"@type":"Question","name":"Is Brooklyn cheaper than Manhattan at $2 million to $5 million?","acceptedAnswer":{"@type":"Answer","text":"Per square foot, yes, and by a wide margin: $1,528 against $1,863, about 18 per cent less. The median Brooklyn home in this range is 1,930 square feet against Manhattan's 1,653. The more useful difference is what you get. 40 per cent of Brooklyn listings at this budget are a whole house or townhouse, against 7 per cent in Manhattan, and Brooklyn is almost entirely condominium and house stock where Manhattan is 23 per cent co-operative. See Brooklyn homes for sale."}},{"@type":"Question","name":"Are most homes in this range co-ops or condos?","acceptedAnswer":{"@type":"Answer","text":"Condominiums, but this is the range with the largest co-operative share of any price range above $2 million. In Manhattan specifically, 23 per cent of listings between $2 million and $5 million are co-operatives. In Brooklyn it is 1 per cent. The choice matters more here than higher up, because at this budget the co-op is often the way to buy meaningfully more space in a prime location. What it costs is board approval, a likely cap on financing, and rules about letting the home. The condo versus co-op guide covers both sides."}}]}
{"@context":"https://schema.org","@type":"BreadcrumbList","@id":"https://realestaterebatesnewyork.com/buy/multi-million-dollar-homes-nyc/2m-to-5m#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https://realestaterebatesnewyork.com/"},{"@type":"ListItem","position":2,"name":"Buy","item":"https://realestaterebatesnewyork.com/buy"},{"@type":"ListItem","position":3,"name":"Multi-Million Dollar Homes for Sale in NYC","item":"https://realestaterebatesnewyork.com/buy/multi-million-dollar-homes-nyc"},{"@type":"ListItem","position":4,"name":"$2 Million to $5 Million Homes Across New York City","item":"https://realestaterebatesnewyork.com/buy/multi-million-dollar-homes-nyc/2m-to-5m"}]}
```