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

An island for sale off the coast of Italy will accept offers in the $2.2 million range.

• 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 Manhattan, a two-bedroom condo is for sale for $2.2 million.

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

The 37-acre island sits about 984 feet off the coast.

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 only structure on the island is a 16th-century tower in need of restoration.

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.