NYC Life NYC Real Estate

Is it a Deal? $775K Two-Bedroom in Chelsea

The living room ate 240 West 19th Street

The living room at 340 West 19th Street

Sometimes listings seem to good to be true. For many savvy real estate hunters, a two-bedroom in Chelsea listed for under $1,000,000 is an automatic red flag, causing immediate skepticism and prompting low expectations.

It’s probably not a true two-bedroom; the location’s got to be bad; it’s a walk-up; the list of potential flaws is endless.

So, when a two-bedroom co-op located at 340 West 19th Street in the heart of Chelsea comes on the market listed for $775K – 66 percent less than the median asking price for two-bedrooms in Manhattan – it’s tempting to write the property off as a lemon. This co-op, however, requires some closer scrutiny.

See below for a breakdown of the pros and cons.

Pros:

Recently renovated bathroom

The master bedroom

Cons:

How would you use this space?

Do the positives outweigh the negatives? It is hard to judge by the listing alone, so a visit to this Sunday’s open house may be necessary. Regardless, the price makes this place stand out. (Amazingly, it’s only listed for $5,000 more than what it sold for in 2008!) Check it out and let us know what you think!

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