The East Village is like the West Village‘s funky younger sibling, boasting tons of great bars, restaurants, shops, parks, and music venues. Home prices in the East Village are lower on average than those in the West Village, although finding a sale under $1M in the neighborhood can still be a challenge. But it’s not impossible, as proved by our Deal of the Week, 54 E. 1st St. #6C. This prewar apartment offers modern amenities, including a dishwasher and in-unit laundry!

Price $495,000
Space 1 bed, 1 bath
Neighborhood East Village
Borough Manhattan

Get to know our Deal of the Week!

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The Price: $495,000

The median asking price for a home in the East Village was $1.2 million this November, according to the StreetEasy Data Dashboard. That means our Deal of the Week is priced at less than half the median asking price for the neighborhood — and a third that of Manhattan!

Buyers who put down the 20% minimum down payment of $99,000 can expect to see monthly payments of $3,303. This includes a mortgage payment of $2,503 and a maintenance fee of $800,which is fairly low by NYC standards. Plus, the monthly payment sits below the median asking rent in the East Village, which was $3,999 this November!

Why You’ll Love It…

The most compelling feature of this unit is its prewar charm, which abounds in every room. The window and door moldings are ornate, featuring rosettes and glass panels, giving the space a sophisticated and vintage feel. Combined with the high ceilings, hardwood floors, and whitewashed brick, the apartment oozes charm. Large windows that face the tree-lined street also let in plenty of light.

The living area is separated from the kitchen via a large doorway and pass-through window that doubles as a breakfast bar. It’s the perfect place to eat meals, get some work done, or expand your living room seating. Through the doorway, the large and open kitchen has granite countertops and ample cabinet space. In addition to a full-size oven, the space includes a dishwasher and a washer/dryer!

One more door leads to the bedroom, which can fit a full-size bed and some extra furniture. It also has a decently sized closet. The monochrome, en-suite bathroom is outfitted with a soaking tub/shower combo.

The co-op building allows pets with board approval and considers co-purchasing, gifting, guarantors, and pied-a-terres on a case-by-case basis. Location-wise, the building is situated just across the street from First Park and Sara D. Roosevelt Park. The F train stops at 2nd Street less than 500 feet away, and the 6, J, Z, B, D, F, and M trains are also nearby. There’s no shortage of great eateries within a couple of blocks, like Lil Frankie’s, Rosie’s, Russ & Daughters, and Baar Baar.

…And Why You Might Not

Like most of the housing stock in the East Village, this unit is in a walk-up building. It also appears this unit is on the sixth (and top) floor, so it’s not the most accessible. The bedroom is also on the smaller side, and its window faces an airshaft. The kitchen could also use some renovation due to its mismatched cabinets and two half-sized fridges. Still, for the location and the price, you’ll be hard-pressed to find a better deal.

Check out the listing at 54 E. 1st St. #6C, listed by Stephanie Hinton of Douglas Elliman.