Looking for an NYC studio with storage, laundry, and outdoor space…all for under $600K? It may sound impossible, but there are Manhattan units that fit the bill — like 54 E. First St. #1B. Our Deal of the Week is an East Village studio with a washer/dryer in-unit and a garden shared with only one other apartment.
Learn more about our Deal of the Week!
The Price: $570,000
The median asking price for a home in the East Village was $1.2 million this July, according to the StreetEasy Data Dashboard. That means our Deal of the Week is less than half the median asking price for the neighborhood!
Buyers who put down a 20% down payment of $114,000 can expect to see monthly payments of $3,870. This includes a mortgage payment of $2,965 and a maintenance fee of $905. Monthly payments are also well below the median asking rent in the neighborhood, which sat at a whopping $5K this July.
Why You’ll Love It…
Boasting 12-foot ceilings and whitewashed exposed brick walls, this unit certainly has a striking, loft-like look about it. The height is especially helpful in allowing for storage space above the bed, accessible via a library-esque ladder. Not only does this add extra storage to the studio, but it also creates a built-in area for the bed, perfect for those who love to sleep in a nook-like space. The nook is flanked by a window and built-in shelving for easy-to-reach storage.
Another standout of the unit is its renovated kitchen, which has ample cabinet space and gorgeous subway tile backsplash. The room is also big enough for a dining space for two. In addition to the built-in storage found in the kitchen and bed area, there’s another closet in the living room and a separate storage unit in the hall.
You’ll find a washer/dryer tucked into a closet right outside the bathroom, meaning you won’t have to haul your hamper to the laundry room or the laundromat. But the only thing better than having in-unit laundry in New York is having private outdoor space — which this unit almost checks off. A glass door leads out to a semi-private garden, which is shared with just one other neighboring unit in the building.
This building permits pets and sublets and allows co-purchasing, gifting, and guarantors on a case-by-case basis. Its prime location puts the building in close proximity to some of the East Village’s best eateries, including Russ & Daughters, Katz’s, Fish Cheeks, Supper, and Tacombi. Transit-wise, there’s an F stop mere feet away, with the B, D, M, 6, J, and Z trains also nearby. First Park and Sara D. Roosevelt Park are right by the building, providing easy access to green space when you tire of the garden.
…And Why You Might Not
Being on the ground floor isn’t everybody’s cup of tea. The fridge is not full-size, and is currently located underneath the countertop. Aside from the window and door facing the garden, all the unit’s windows are made of glass bricks, so while they let light in, you can’t see directly out of them or open them. But if you’re looking to buy in the heart of the East Village at a stellar price, be sure to check this one out!
Check out the listing at 54 E. First St. #1B, listed by Hillel Fried of Compass.
Buying a home in NYC is unlike buying anywhere else. Chat with our licensed StreetEasy Concierge for a free consultation to get prepared.
