A UK firm has an answer to the high cost of urban real estate: Abito. The 347 sq. ft. apartments feature built in appliances, balconies and a floor to ceiling window to increase natural light. Construction is planned to begin this year in Manchester and Salford with estimated prices starting at 85,000 GBP.
Many New York residents are familiar with studio apartments around 347 sq. ft. Unfortunately, few studios are designed this well or offer a feeling of spaciousness. These would sell well in Manhattan, especially if the price were about the same (85,000 GBP = 158,173 USD). This would equate to about $456 per square foot, quite a bit cheaper than the current Manhattan average of $671.