Yes, it’s small, but the combination of price and location make this a Deal of the Week.

The Upper West Side of Manhattan is home to charming brownstones, quaint restaurants, quiet streets and unfortunately, top-tier prices. Finding a 1-bedroom under half a million dollars is sadly a rarity. That’s why this classic, cute 1-bedroom co-op at 331 W. 89th St. is such a gem — and an easy pick for our Deal of the Week.

The Price: $499,000

While the Upper West Side’s median sale price of $899,000 for a 1-bedroom is only slightly below the Manhattan median of $925,000, it’s nothing to scoff at. This apartment’s asking price of $499,000, while also not exactly cheap, puts it in the realm of possibility for many more New Yorkers.

With a 20 percent down payment of $99,800, buyers can expect to see monthly payments of about $2,725, which includes a mortgage payment of $2,044 and a monthly maintenance fee of $681. That would set the buyer well under the median rent for the Upper West Side, which is $3,100 for a 1-bedroom. And owning an apartment at a fraction of the monthly cost of renting is definitely worth the hassle of the co-op approval process.

Why You’ll Love It…

The price isn’t the only thing to get excited about here; this apartment packs plenty of punch despite its small size. According to the listing, there’s tons of natural light coming into all rooms — including through a skylight in the bathroom. There are cute details throughout, like the exposed brick in the living room and the sleek white tile backsplash in the kitchen.

Still, the best parts of the apartment might be on the outside. This prewar co-op has a roof deck with seating areas accessible to all the residents of the building. It’s also located on a quaint street, with Riverside Park and the Hudson River just steps away. Meanwhile, the rest of the city is accessible on the 1, 2 and 3 trains, which all have stops less than half a mile away.

Did we mention that there’s also laundry onsite and that you can have whatever pets you want here? Sounds like a good deal to us.

… And Why You Might Not

Again, what buyers will save in money, they’ll sacrifice in space. This apartment is on the small side, clocking in at around 425 square feet. (The listing doesn’t give total square footage, but we did the math based on the floor plan.) The kitchen is particularly cramped: we can already imagine the awkward daily maneuvers between the oven and refrigerator. But with updated, stainless-steel appliances, it could be a lot worse. And all that said, the bedroom is still big enough for a queen-size bed.

While the 1-bedroom is definitely a true bedroom, its one window may be a little small, especially with an air conditioning unit jammed up there during the summer. And given that this unit is a fifth-floor walk-up, you’ll definitely need that air conditioning when you get home.

But with subleases and pied-à-terres allowed in the building, this could also make a perfect second home for someone looking to travel to the city frequently. Or anyone who doesn’t mind sacrificing a little space and a few frills for a perfect location.

See the listing on StreetEasy: 331 W. 89  St. #4A represented by Jennifer Diner and Bridget Little of Brown Harris Stevens.
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