Image of Chelsea 1-bedroom at 237 W. 20th St.

This Chelsea 1-bedroom is asking $1,912 less than the neighborhood median rent.

StreetEasy shoppers are loving this Chelsea 1-bedroom, and it’s no surprise why. The apartment offers classic Downtown character, natural light, and a central location — all for a relatively low monthly rent. Interested? Let’s take a look inside.

Address: 237 W. 20th St. #3C

Price: $2,450

Size: 1-bedroom

Neighborhood: Chelsea

Best feature: Good morning, Chelsea! Parked between Seventh and Eighth avenues, this 1-bedroom combines a central location with quintessential Downtown charm that’s rare to find in a rental at this price point. West 20th Street is right in the heart of the neighborhood, close to galleries, boutiques, and bars. The High Line is two blocks west.

The apartment is three flights up in a prewar walk-up built in 1901. Inside, the unit radiates a warm, cheerful vibe. Tall windows allow sunlight to stream in and look out onto the lovely, leafy backsides of the neighboring buildings. Exposed brick walls and a classic black-and-white subway tile bathroom up the home’s quintessential charm. Throughout the space, hardwood floors and high ceilings keep things feeling clean and airy.

Why it’s a deal: The median rent for a Chelsea 1-bedroom is a whopping $4,362 — some $1,912 above the asking price for our Rental of the Week. Compared to 1-bedrooms across the rest of the borough, this home is a major bargain, too. The median rent for a 1-bedroom in Manhattan is currently $3,500.

NYC Rentals Under $3,500 on StreetEasy Article continues below

Biggest drawback: This 1-bedroom is definitely small. The living area multitasks as a kitchen, dining room, and relaxing room. The kitchen does not offer much counter space, or a dishwasher for that matter. Lastly, there are no closets in the bedroom. Based on the listing images, it looks as if there are two closets in the living area, though.

Despite limited space and basic fixtures, the apartment has undeniable charm and terrific value. And for those reasons alone, we wager it’ll get snapped up quickly.

See the listing: 237 W. 20th St. #3C, listed by Avi Fried and Judah Fried of Compass.

Inspired to find your next place in New York? Whether you’re looking to rent or to buy, search NYC apartments on StreetEasy.