With Amazon’s second headquarters coming to Queens, the number of buyers eyeing Long Island City is skyrocketing. But for anyone looking to get proximity to the Amazon action while staying in Manhattan, Kips Bay makes a great choice. This neighborhood is in East Midtown, with easy access to LIC via the subway or bus. And while Kips Bay isn’t the cheapest neighborhood, there are plenty of deals to be found, such as at 240 E. 24th St. #4A. Our Deal of the Week is a cute 1-bedroom with plenty of space, elegant finishes, and a walk-in closet.
The Price: $525,000
According to the latest StreetEasy Market Reports, the median asking price in Midtown East is $1.005 million — nearly twice what our Deal of the Week is asking. Buyers who put down the minimum 20 percent of $105,000 can expect to see monthly payments of around $3,216. This consists of a $2,199 mortgage payment and $1,017 in monthly maintenance. For reference, the median asking rent in Midtown East is currently $3,450.
Why You’ll Love It …
The location of this apartment is one of its main draws. It’s only a few blocks away from Madison Square Park, Union Square, and the East River waterfront. The neighborhood also has easy access to restaurants and shopping, plus venues like the Gramercy Theatre and the People’s Improv Theater. The 6, N, R, and W trains are all nearby.
Recently renovated, this oversize 1-bedroom is ready for move-in. A foyer opens to the living room via an arched doorway, and gives access to the galley-style kitchen and a custom closet. Jacobean oak floors flow throughout the space, which has 9.5-foot ceilings. The kitchen is outfitted with custom mahogany cabinetry, granite countertops and stainless-steel appliances.
A skylight brightens up the bathroom, which has slate plank tiling and sleek cabinetry for plenty of storage. The bedroom is big enough to accommodate a king-size bed, dresser and desk. It also has two north-facing windows, plus a spacious walk-in closet.
The apartment is located in a pet-friendly co-op with a common outdoor area, complete with grills for barbecuing. There’s also a live-in super and storage in the building. The co-op allows unlimited subletting with board approval, in addition to pied-à-terre use and guarantors.
… And Why You Might Not
The galley-style kitchen does not offer a lot of space to move around, though it does offer a dishwasher. The bathroom is also on the smaller side, and the monthlies are by no means low. But for those living alone or as a couple — or for those looking to invest — this place could be a great find.
Check out the listing at 240 E. 24th St. #4A, listed by Kari Kaplan of Douglas Elliman.
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