The East Village is a classic downtown neighborhood through and through. Newbies and long-time residents alike enjoy its endless restaurants, nightlife, and history. Over the years, the neighborhood’s prices rose as its rough edges smoothed out. But you can still find some great deals here. For instance, our Deal of the Week. This sunny East Village 1BR, 628 E. 14th St. #18, is equal parts charming and functional.

The Price: $425,000

The median asking price for a home in the East Village is $1.1 million, according to the StreetEasy Data Dashboard. That puts our Deal of the Week at less than half the average for this iconic neighborhood.

Buyers who put down the 20% minimum down payment of $85,000 can expect to see monthly payments of $2,194. This includes a mortgage payment of $1,433 and a maintenance fee of $761. By comparison, the median asking rent in the East Village is $2,800. That means you can be a homeowner for significantly less per month than it would cost you to rent!

Why You’ll Love It…

Upon entering this East Village 1BR, you’re immediately greeted by its prewar charm. The wide-plank hardwood floors are newly refinished, mixing perfectly with the old-school exposed brick. French doors with a transom window lead into a spacious bedroom that boasts plenty of decorative molding. Even better is the huge walk-in closet, which provides ample storage space. The room is also nice and sunny, with two large windows.

In fact, our Deal of the Week is incredibly bright, with windows galore. There are two in the open living/dining area, another two in the kitchen, and one in the bathroom too. Speaking of which, both the bathroom and kitchen have been updated. And the kitchen has a unique shape that allows for much more counter and cabinet space than your typical downtown walkup.

The co-op’s fairly low maintenance fee covers heat, hot water, and gas. The building also offers bike storage and a shared backyard with a barbecue area. Plus, the location between Avenues B and C provides proximity to both Tompkins Square Park and East River Park. Not to mention all the wonders of the East Village that surround you in every direction.

Downtown Homes Under $600K on StreetEasy Article continues below

… And Why You Might Not

Sadly, this East Village 1BR is in a walkup building, although it’s not clear what floor it’s on. And while the huge bedroom closet is great, it’s the only closet in the unit. Finally, the further east you go in this neighborhood, the further you are from easy transportation. It’s more than two long avenue blocks to the L train from here, and much further to other trains at Astor Place or Union Square.

To learn more, check out the listing at 628 E. 14th St. #18, in the East Village.

Whether you’re looking to rent or to buyfind your next NYC apartment on StreetEasy.