New Yorkers old and new are flocking to Upper Manhattan to take advantage of (relatively) low costs, at least compared to the borough’s last recorded median sale price of $1.165 million. Our Deal of the Week is here to prove that budget-friendly apartments do exist in Manhattan. The unit at 870 W. 181st St. #42 offers 1 bedroom and 1 bathroom in Hudson Heights with sleek style, plenty of charm, and a pretty gorgeous kitchen.
The Price: $399,000
According to the latest StreetEasy Market Reports, the Hudson Heights area of Washington Heights saw a median sale price of $564,000 in May. Our Deal of the Week sits more than $100,000 below that figure, and even further below the Upper Manhattan median of $787,000.
This is a great opportunity to become a homeowner in Manhattan, at a time when the market very well may be moving in the home buyer’s favor. The minimum down payment for this unit is 10 percent, or $39,900. Buyers could then expect to see monthly payments of about $2,467, consisting of a $1,822 mortgage payment and $645 in maintenance fees. (That’s a fairly low fee in NYC: The average maintenance fee in the city is $1,500, according to the New York Daily News.)
Why You’ll Love It …
One of the main draws of this apartment is its kitchen, which is stylishly designed with details such as a mirrored backsplash and marble countertops. There’s plenty of counter space, plus a sleek breakfast peninsula if that’s not enough. De’Longhi and GE Monogram appliances, a dishwasher, and a window complete the chic, wood-and-stainless-steel-trimmed room.
The bedroom has a large amount of closet space, plus an alcove that could be used for an office or exercise area. There’s also additional closet space in the foyer, thanks to a built-in closet and bench.
Plus, the building itself is super convenient, with an elevator, pet-friendly policy, and two laundry facilities onsite. Additionally, pied-à-terres, subletting, guarantors, and co-purchasing are allowed.
Buyers will be about a block away from beautiful Fort Washington Park, with views of the George Washington Bridge and Hudson River. Plenty of restaurants, delis, and coffee shops are right up the street, too.
… And Why You Might Not
With one of the windows in the bedroom covered by a built-in closet, the room might be a little dark — but that window was probably facing the adjacent building anyway. There’s still one window in the alcove, plus windows in the living room and kitchen. But given the fact that these windows are covered up in the listing photos — and that this building sits adjacent to an onramp for the George Washington Bridge — we’re guessing the views from the place are not spectacular.
Meanwhile, in the kitchen, the refrigerator is located underneath the counter, which is unusual. Though, with those double doors, it looks fairly large — it’s definitely not a mini-fridge.
This co-op probably isn’t for those who don’t get along with the A train, since it’s the closest subway line. However, the 1 is only a little bit further away, and several bus lines run through the neighborhood. Still, the potential commute length is something to consider.
If none of that bothers you, there’s an open house this Sunday, July 29, from noon to 2:00 p.m., where you can get a firsthand look at how much home $400K will get you in Hudson Heights.