entry threshold for luxury apartments

[sum41111]

[FONT=&quot]Hello,

I saw the paragraph below from a website.

/Welcome to Brick Underground’s luxury pick of the week, a feature spotlighting a condo, co-op, or townhouse for sale with an asking price of at least $3,000,000, the current entry threshold for luxury apartments in Manhattan./

I just don't know what's entry threshold for [/FONT][FONT=&quot]luxury apartments?

This number usually varies month by month. In Oct 2019, it's [/FONT][FONT=&quot]$3,000,000 as above, but when Feb 2020, it's [/FONT][FONT=&quot]$3,240,000.

Thanks a lot![/FONT]

 

[SoothingDave]

Have you looked up "threshold" in a dictionary?

 

[sum41111]

Have you looked up "threshold" in a dictionary?

Yes, but I can't link the meaning to the context here. Does it mean only the apartment sold in Oct 2019 that is greater than $3,000,000 can be regarded as luxury apartment? Other apartments in Manhattan, if they are sold less than $3,000,000, are nomal apartments?

Thanks vm

 

[SoothingDave]

Yes. Those apartments considered "luxury" start at $3 million.

 

[Skrej]

/Welcome to Brick UndergroundÂ’s luxury pick of the week, a feature spotlighting a condo, co-op, or townhouse for sale with an asking price of at least $3,000,000, the current entry threshold for luxury apartments in Manhattan./

This number usually varies month by month. In Oct 2019, it's $3,000,000 as above, but when Feb 2020, it's $3,240,000.

That's why the text says "current". Real estate prices fluctuate constantly, so the minimum starting price will change accordingly.

 

[Tarheel]

[FONT=&quot]Hello,

I saw the paragraph below on a website.

/Welcome to Brick Underground’s luxury pick of the week, a feature spotlighting a condo, co-op, or townhouse for sale with an asking price of at least $3,000,000, the current entry threshold for luxury apartments in Manhattan./

I just don't know what "entry threshold for [/FONT][FONT=&quot]luxury apartments" is.

This number usually varies month by month. In Oct 2019, it was [/FONT][FONT=&quot]$3,000,000 as above, but in Feb 2020, it was [/FONT][FONT=&quot]$3,240,000.

[/FONT]

Please note changes.(I assume that the "entry threshold" is the minimum amount needed.)