There are plenty of hurdles to homeownership in New York City, but if you play your cards right, buying can net you monthly costs lower than what you’d pay in rent. Just take a look at 11 Irving Place #1A. This Clinton Hill alcove studio has monthly common charges and taxes totaling below $700, with a price tag well below the neighborhood and borough averages. Here’s everything you need to know about our Deal of the Week, and check out our new StreetEasy Neighborhood Guide to Clinton Hill.
Learn more about our Deal of the Week!
The price: $525,000
The median asking price for a home in Clinton Hill was $1 million this June, according to the StreetEasy Data Dashboard. That means our Deal of the Week is priced a little above half the median asking price for the neighborhood.
Buyers who put down a 20% down payment of $105,000 can expect to see monthly payments of $3,275. This includes a mortgage payment of $2,627, common charges of $280, and taxes of $368. Monthly payments are well below the median asking rent in Clinton Hill, which sat at $4,500 this June.
Why you’ll love it…
The home’s kitchen spans the entire back wall, featuring lots of overhead and under-counter cabinetry and a full suite of stainless steel appliances. Unlike some studios, this one has a full-size fridge with a freezer, in addition to a dishwasher! A mounted microwave and oven with range round out the set. The white quartz countertop offers a fair amount of prep room, but you could expand it further by adding an island or cart.
The main living area has an alcove perfect for a queen-sized bed, which helps create a small sleeping area. You can go a step further and add a divider or shelves next to the bed to separate the space further. As for the rest of the space, it can accommodate a couch, small dining table, and desk. Two large windows anchor the room and allow natural light to spill over the hardwood floors. Recessed lighting also helps create a lofty and airy feel. Plus, there’s a through-wall air conditioning unit for those hot summer days.
You’ll find a closet outside the bathroom, which is outfitted with cream-colored tile walls, a tub/shower combo, and a spacious vanity. A washer/dryer can be installed in the unit, but the building also has its own laundry room so you’re covered either way.
Located on a tree-lined street in the heart of Clinton Hill, the building is near the A, C, S, and G trains for easy commutes. Several bars and restaurants are located on the surrounding blocks, including Speedy Romeo and Miss Ada. Clinton Hill is perched between Fort Greene, Bed-Stuy, and Prospect Heights, so buyers are within easy distance of the borough’s best hotspots while living in a more tucked away, residential neighborhood. The Bed-Stuy YMCA sits a few blocks east, and when you want to spend some time in nature, both Fort Greene Park and Prospect Park are within a mile and a half.
…and why you might not
This studio only has one closet, so you might need to get creative with storage space. The unit is also located on the first floor, which isn’t everyone’s preference. But if you’re in the market for a space under $550K with low monthlies, give this one a look!
Check out the listing at 11 Irving Place #1A, listed by Behzad Amiri, Noah Shapiro, and Dan Chen of Corcoran.
Curious about the value of a buyer’s agent? Speak to our licensed StreetEasy Concierge for the details and get connected with a top agent.
