If you’re looking for more space and lower prices, check out Inwood. This neighborhood situated at the very top of Manhattan is home to several parks, river views, museums, and restaurants galore. Plus, the neighborhood has prices well below Manhattan averages — just take a look at 581 Academy St. #5B. Our Deal of the Week is an Inwood 2-bedroom condo with tons of built-in cabinetry, numerous windows, and over 800 square feet of space.
Learn more about our Deal of the Week!
The price: $499,000
According to the StreetEasy Data Dashboard, the median asking price for a home in Inwood was $399,000 this August — compared to Manhattan’s median asking price of $1.3 million. While this unit’s asking price sits above that for the neighborhood, it’s still a steal for Manhattan overall, while offering two bedrooms.
Buyers who put down a 10% down payment of $49,900 can expect to see estimated monthly payments of $4,100. This includes a mortgage payment of $3,026, common charges of $758 and taxes of $316. Note that these taxes are reflective of the condo being the owner’s primary residence with condo abatement. Taxes are $439.79 without the abatement.
Why you’ll love it…
One of the main standouts in this unit is the use of built-in storage throughout. For example, the kitchen includes not only tons of custom cabinetry and shelving, but also a built-in desk for a unique work-from-home station. The kitchen also boasts a built-in island that can double as a dining space. This room is lit by both a large window and a pair of skylights, bringing a sense of openness to the space.
One step down from the kitchen is the living area, which has two more large windows, double-paned for optimal noise reduction. A hallway connects the living room to the two bedrooms and is lined with more built-in storage, including shelving, soft-close drawers, and cabinets. Truly a music lover’s dream, the unit has plenty of spaces for CDs and vinyls — in addition to flush-mounted ceiling speakers and soundproofed walls and ceilings. And if music isn’t your thing, rest assured you’ll have plenty of space for shoes, books, candles, or whatever else fills your home.
One of the bedrooms features built-in drawers around the perimeter of the room in addition to a double-door closet. The other bedroom has a TV cabinet installed into the wall in a prime location for watching from bed. To top it all off, the unit has central air conditioning and recessed, dimmable lighting for maximum convenience.
This condo is located in an elevator building with bike storage, a live-in super, laundry facilities, and an exercise room. Subletting and pets are both allowed. Commutes downtown are simple with the 1 and A trains located within a quarter of a mile. And there’s lots to do in the neighborhood, with tons of restaurants on the surrounding blocks. Plus, Highbridge Park, Fort Tyron Park, and Inwood Hill Park are all nearby, so you’ll have plenty of green space to explore. Inwood is surrounded by beautiful nature on three sides, so it’s the perfect spot for outdoors-lovers.
… and why you might not
The second bedroom doesn’t have a real closet, so it may function better as a den or office. Plus, the kitchen doesn’t have a dishwasher. Still, the apartment offers lots of flexibility in terms of space, and it’s certainly not short on storage. So if you’re looking for a 2-bed for under $500K, be sure to check this one out.
Check out the listing at 581 Academy St. #5B, listed by Edward Liao and Jessica Cohen of Brown Harris Stevens.
