Kips Bay is a hidden gem for Manhattan renters. Its East Side setting makes it convenient to everything. There’s plenty of restaurants and neighborhood amenities, including a Fairway, a Trader Joe’s, and even a Target. But its under-the-radar vibe makes it much more affordable than its showier neighbors, like Gramercy Park, Flatiron, and NoMad. Our Rental of the Week is a perfect example. This Kips Bay 1BR boasts character, a dishwasher, and in-unit laundry, all for a fantastic price.

Address: 236 E. 24th St. #4D

Price: $2,000

Size: 1-bedroom

Neighborhood: Kips Bay

Best feature: You’re really getting a lot for your money here. For starters, this Kips Bay 1BR has a proper bedroom. It’s big enough for a bed, furniture, and even a desk setup for working from home. New York renters at this price point know how rare that can be.

And there’s a lot more, too, including a beautifully remodeled kitchen with a dishwasher. To one side of the kitchen is a windowed dining nook, which would also make an ideal work-from-home space. And to the other is a stacked washer and dryer. Score! The bathroom is nicely done, too. Plus, there’s exposed brick and crown molding for character.

Why it’s a deal: Kips Bay is a submarket of Midtown East, where the median asking rent is $2,700, according to the StreetEasy Data Dashboard. That puts our Rental of the Week at $700 per month below average for the area. That’s a savings of more than $8,000 per year!

Manhattan Rentals Under $2,500 on StreetEasy Article continues below

Biggest drawback: This Kips Bay 1BR is smartly laid out, but it’s pretty small overall. The kitchen and living area in particular are both slightly cramped. In addition, the living area does not have any windows. So you’d have to keep the pocket doors to the bedroom open for natural light and air flow. But the benefits far outweigh the drawbacks, especially at this price.

See the listing: 236 E. 24th St. #4D, in Kips Bay. Listed by Andrei Kunevsky and Luisa Tancredi at Triplemint.

Whether you’re looking to rent or to buyfind your next NYC apartment on StreetEasy.