Condos Have Gotten So Expensive and Hard to Find. So: Townhouse Instead?

June 27, 2014 — Median prices for Manhattan condominium apartments have increased more than 55.4 percent over the past decade, from $804,000 to $1.25 million. Townhouses have spiked less, rising just 33 percent, but the dollar amounts are way higher: $2.7 million to $3.59 million. Ah, but with a townhouse, there's no condo board, and no one telling you that you can't lease a portion of the place, so there's potential rental income to help offset the higher price tag. And you save on the monthly common charges, though you might well find yourself spending about the same on upkeep. Condos, on the other hand, have apartments above street level, which are generally safer and quieter, and often amenities like a gym or a roof deck. And there are subtler points to consider as well — all ably delineated by Leigh Kamping-Carder in "Ask an Expert: Condo or Townhouse — Which Is A Smarter Buy?," the latest installment in BrickUnderground.com's weekly roundup of authorities on various subjects.