Deal of the Week Good Deals

Bright and Stylish Duplex 1BR in Kips Bay Asks $465K

By Erika Riley April 21, 2020

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.

Murray Hill

20 East 35th Street

$750,000

1 |

Murray Hill

288 Lexington Avenue

$599,000

1 |

Murray Hill

135 East 39th Street

$500,000

1 |

Turtle Bay

342 East 53rd Street

$545,000

1 |

Sutton Place

345 East 56th Street

$679,000

1 |

Beekman

12 Beekman Place

$720,000

1 |

Turtle Bay

235 East 49th Street

$520,000

1 |

Kips Bay

330 Third Avenue

$680,000

1 |

Gramercy Park

205 Third Avenue

$725,000

1 |

Hell’s Kitchen

325 West 45th Street

$525,000

1 |

Turtle Bay

321 East 48th Street

$750,000

1 |

Gramercy Park

201 East 21st Street

$675,000

1 |

… 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.

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