dotw - kips bay 1br

Living in mid-Manhattan isn’t for everyone — there’s lots noise, lots of people, and prices run on the higher side. But Kips Bay is a slightly less expensive alternative to nearby neighborhoods like Gramercy Park, Hell’s Kitchen, and Chelsea. Bordering the East River, the neighborhood spans from 23rd to 34th streets and offers a multitude of restaurants, parks, and conveniences. Our Deal of the Week, 160 E. 26th St. #4C, is a duplex Kips Bay 1BR that proves deals still exist here. And don’t miss the great 3D tour on the listing!

The Price: $465,000

The median asking price for an apartment in Midtown East is $922,500, according to the latest StreetEasy Market Report. And the median price for a 1-bedroom in neighboring Murray Hill is $749,000. That puts our Deal of the Week hundreds of thousands below average for the general area.

Buyers who put down the 20% minimum down payment of $93,000 can expect to see monthly payments of $3,301. This includes a mortgage payment of $1,929 and a maintenance fee of $1,372. By comparison, the median asking rent in Midtown East is $3,628.

Why You’ll Love It…

The chic open living area has enough space for a dining set in addition to living room furniture. A spiral staircase leads up to the bedroom, open to below so it still gets natural light. It has a sizable closet and plenty of room for a king-size bed. Tucked underneath the lofted area is a black-and-white kitchen and modern bathroom with cute tile trim. Another closet on the lower level provides space for linens and cleaning supplies, or could function as a pantry.

The building has an elevator, so the only steps you’ll be taking in this Kips Bay 1BR are the spiral ones up to the bedroom. There is also a laundry room in the building, a live-in super, and central AC. Guarantors, subletting, gifting, co-purchasing and parents buying are all allowed. And the location is convenient to Baruch College, Madison Square Park, and multiple grocery stores, including Trader Joe’s and Fairway.

Mid-Manhattan 1BRs Under $750K on StreetEasy Article continues below

… And Why You Might Not

There are no major problems here, but the little things might add up. Monthly maintenance fees are a bit on the high side at $1,372. The spiral staircase, while a huge space-saver, is tricky for accessibility. The kitchen is very small, with a limited amount of cooking space. And finally, the window is big and bright, but it is lonely — it’s the only window in the apartment. Still, this Kips Bay 1BR is a great space in a great location, and the price is hard to beat!

Check out the listing at 160 E. 26th St., #4C, and contact a StreetEasy Expert on the listing for more information.