What would I have to pay for this in NY? (Manhattan)

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I think you're way off. A condo like that in Manhattan would be no less than 3-4 mil.

Yeah, this might be a shade high, but it might not. The AVERAGE price of an apartment in Manhattan (below 96th st) is around a million. I was going to guess high 2s, depending on location, but we really aren't too far off.

Oh, a place with that kind of set up is likely to have amenities. So, the common charges/maintenance on a condo/co-op like that in the city would easily surpass your entire mortgage payment on a property that's 245K.
 
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