Midtown neighborhoods like Hell’s Kitchen are conveniently located right in the action, but often come with a high price tag. With some digging, though, deals can still be found. Take our Deal of the Week: 715 Ninth Ave. #3RN is a gorgeous 1-bedroom in Hell’s Kitchen with plenty of charm, yet priced well below the neighborhood median.
The Price: $425,000
According to the latest StreetEasy Market Reports, the median asking price for an apartment in Midtown West, which includes Hell’s Kitchen, is $1.4 million. Our Deal of the Week is priced about $1 million below that.
Buyers who put down the minimum 20 percent down payment of $85,000 can expect to see monthly payments of about $2,468. This includes a mortgage payment of $1,709 and a monthly maintenance fee of $759. For comparison, the median asking rent in Midtown West is $3,483 — about $1,000 higher than the monthly cost for this unit.
Why You’ll Love It …
This apartment has been meticulously renovated, so it’s move-in ready. Those renovations can be seen in the kitchen, which features custom cabinetry, stainless-steel appliances, and open shelving. The kitchen is also windowed and has room for a small dining set.
Exposed brick covers one continuous wall of the apartment, which creates accent walls in the kitchen, living room, and bedroom. Hardwood floors and custom lighting add an urban feel throughout, and the living room could even double as a small dining room.
White subway tiles and gray tile flooring create a chic look in the bathroom. The bedroom is big enough for a queen-size bed in addition to other furniture, such as a desk, and two large windows keep it bright.
The apartment is in a pet-friendly, prewar co-op building with a liberal sublet policy. Pied-à-terre use is also permitted, making the apartment suitable for several different types of buyers.
Location-wise, this unit is hard to beat. Neighborhood parks, restaurants, and gyms are all on the surrounding streets. Central Park, Carnegie Hall, and Times Square are all within walking distance. Transportation will be a breeze, with a variety of different trains all nearby, including the A, C, E, 1, N, R, W, B and D.
… And Why You Might Not
This unit is in a walk-up building, likely on the third floor, and there’s no information about laundry in the unit or the building. The listing also doesn’t include a floor plan, so the storage situation is unclear. It’s definitely on the smaller side, at 400 square feet.
The location, while convenient to transit and Midtown, is just a couple of blocks from Times Square — definitely not for everyone. Still, if you’re looking for a great starter 1-bedroom at a monthly price in line with many NYC rents, this could be a great option.