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The Times' Guide to Buying 'Cheap' Apartments

Snagging an "affordable" apartment in one of New York City's most prestigious hundred-year-old buildings is not impossible, says the New York Times. One just has to find the smallest, least desirable unit, and adore it all the same. In a recently published piece, the Times explains how even in the Dakota, perhaps the most coveted prewar icon and "where John Lennon lived and died", there is currently a two-bedroom duplex on the market for just $5.95M. And over at the castle-like Ansonia, once home to baseball legend Babe Ruth, studios and one-bedroom condos are "less rare," which is probably how in the last five years, 27 sales in the building fell below $500K. But beware, when the biggest units in the most in-demand buildings can sell for $70M, even the smallest digs will often require at least a couple million bucks. [NY Times]