- New York City real estate is notoriously expensive.
- That fact is perhaps never more obvious than when NYC home prices are compared to overseas real estate.
- While $US2.2 million will get you a two-bedroom condo in Manhattan, for the same price you can get an entire 37-acre private island in Italy.
- The only structure on the island, which sits less than 1,000 feet off the coast of Sicily, is a 16th-century tower in need of restoration.
- Agenzia Romolini Immobiliare, which holds the listing with Christie’s International Real Estate, says the tower can be converted into a private residence or opened up to the public as a museum.
- Visit Business Insider’s homepage for more stories.
It’s no secret that New York City real estate is pricey.
The median asking price for a home in Manhattan is about $US1.7 million, according to StreetEasy – and that won’t necessarily give you much space or many amenities to speak of.
In the West Village, for instance, one of the most coveted neighbourhoods in the city, $US1.7 million will buy you a two-bedroom loft, with no outdoor space or amenities apart from a laundry room and storage.
If you increase your budget to $US2.2 million, you can get a two-bedroom condo at Lincoln Square, which has about 1,273 square feet of living space and comes with building amenities such as a 60-foot swimming pool and sauna, a lounge, fitness center, and indoor basketball and squash courts.
In Italy, on the other hand? For the same price as a two-bedroom Manhattan apartment, you can buy an entire 37-acre private island.
An island about 985 feet off the coast of Sicily in southern Italy is for sale for $US2.2 million, The New York Times reported.
Anna Brunellini, a representative from Agenzia Romolini Immobiliare, which holds the listing with Christie’s International Real Estate, told Business Insider that while the official asking price is 2.9 million euros, or about $US3.3 million, the owner would accept offers in the region of 2 million euros, or about $US2.2 million.
There’s currently no place to live on the island: The only structure is a 16th-century tower in need of restoration. The tower was originally built as part of a defence system protecting Sicily against attacks from Corsair pirate ships, according to the listing.
Brunellini said the current owner has never used the island and that it’s been “neglected” for a long time.
“The owner is open to selling the property to anybody who wishes to restore the tower to convert it into a private residence, representative building, corporate image or creating a museum allowing tourists to appreciate not just the naturalistic value of the island but also the historical, artistic and archaeological ones,” Brunellini said.
The island is a five-minute boat ride from the coastal town of Isola delle femmine, and about 40 miles from Palermo, Sicily’s largest city.
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