Finding a 1-bedroom in Manhattan for under $600K can be tough, especially in neighborhoods like Gramercy. This residential enclave near Union Square offers a prime location, with a bit of respite from the hustle-and-bustle of nearby Midtown neighborhoods. While our Deal of the Week, 301 E. 22nd St. #9H, may not get you a key to Gramercy Park — it’s a south-facing 1-bed with a gorgeous kitchen and a full range of amenities.

Price $550,000
Space 1 bed, 1 bath
Neighborhood Gramercy Park
Borough Manhattan

Learn more about our Deal of the Week!

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The Price: $550,000

The median asking price for a home in Gramercy Park was $1.5 million this August, according to the StreetEasy Data Dashboard. That puts our Deal of the Week at about a third of the median asking price for the neighborhood!

Buyers who opt for the 20% minimum down payment of $110,000 can expect to see monthly payments of $4,380. This includes a mortgage payment of $3,104 and a maintenance fee of $1,276. Monthly payments are also lower than the neighborhood’s median asking rent of $4,650 this August.

Why You’ll Love It…

Upon entering the unit, you’ll be greeted by the kitchen, which is open to the spacious and bright living area. If this kitchen can’t quell your takeout addiction, we’re not sure what can: there’s an Italian Bertazzoni range with a hood, dishwasher, and gorgeous quartz countertops. The stone tile backsplash extends up the walls and behind the open shelving, which provides some additional storage. Two closets next to the fridge can be used as pantry space, and the peninsula with the range can be used as a breakfast bar.

The large windows in the living area and the bedroom are south-facing, meaning you’ll get tons of great light throughout the day. They’re also new, so insulation shouldn’t be an issue. Also updated? The hardwood floors, electrical, and heating and cooling units in the bedroom and living room.

You’ll find a dressing area with a double-wide closet between the bedroom and bathroom, which has also been recently renovated. A deep soaking tub and rainfall shower head provide the ultimate luxurious experience.

This unit is located in a full-service co-op building with an elevator, full-time doorperson, live-in resident manager, newly renovated common laundry room, bike storage, crate storage, rooftop garden, and garage. Transportation-wise, there are stops on the 6 and L trains nearby, as well as the 4, 5, N, Q, R, and W about a half-mile away at Union Square. (Plus, there’s a Citi Bike station right outside the building!) Stuyvesant Square Park is a few blocks south, and you’ll have a plethora of eateries in the immediate area, from bubble tea cafes to Filipino restaurants to pizza shops.

…And Why You Might Not

Like most Manhattan 1-bedrooms, this one might not have enough space for everyone’s taste. Besides that, there are only a few nit-picky drawbacks, like the open shelving in the kitchen being narrow and the bathroom being small. Otherwise, this Gramercy find is definitely a gem, and for an impressive price!

Check out the listing at 301 E. 22nd St. #9H, listed by Danelle Snider of Compass.

See more NYC homes under $600K on StreetEasy