For $2.2 million, you can buy a 2-bedroom Manhattan apartment — or a 37-acre private island off the coast of Italy

Agenzia Romolini Immobiliare

• 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 $2.2 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 $1.7 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 neighborhoods in the city, $1.7 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 $2.2 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.

Douglas Elliman

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 $2.2 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 $3.3 million, the owner would accept offers in the region of 2 million euros, or about $2.2 million.

Agenzia Romolini Immobiliare

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 defense 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.

Agenzia Romolini Immobiliare

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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See Also:

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• I toured 2 of NYC’s most notoriously expensive areas for real estate, and they offered a very different look at the city’s wealth

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Source: Business Insider – kwarren@businessinsider.com (Katie Warren)