Two bedrooms, $2 million

REAL ESTATE • On the Market

In the bubble of Manhattan real estate, the de facto luxury market — which Elliman defines as the top 10% of sales — now starts at $4 million. That’s up 4.7% year-over-year, and with inventory down 9.2% over the period, there hasn’t been much pressure to price down.

But, wow, those interest rates. This week, the average 30-year-fixed topped 8% for the first time this century. It’s a number that may cause even the most price-insensitive non-cash buyer to blink at the monthlies on $4 million. (Even cash buyers like to carry a little debt on the balance sheet.) So maybe today is a good time to remember that Manhattan is also a place where lovely two-bedrooms trade in the $2-million range. Here, three downtown to get started: 

→ 250 Mercer St. C212 (Greenwich Village, above) • 2BR/2BA, 1202 SF co-op • Ask: $2.0M • Days on market: 22 • Common charges: $3250 • Broker: Joshua Lieberman, Elliman.

→ 133 Mulberry St. 5C (Little Italy) • 2BR/2BA, 1384 SF condo • Ask: $2.295M • Days on market: 18 • Common charges: $1177, monthly taxes: $1875 • Broker: Matthew Melinger, Brown Harris.

→ 242 East 7th St. PH (East Village) • 2BR/1.5BA, 1600 SF co-op • Ask: $2.4M • Days on market: 24 • Common charges: $1872 • Broker: Jason Lanyard, Elliman.