If you’re looking to live near Midtown but don’t want to constantly be in the hustle and bustle, consider Kips Bay. This Midtown East enclave feels residential and laid-back while offering easy access to the rest of Manhattan. Plus, its low profile comes with prices a bit lower than borough averages. Our Deal of the Week is 305 E. 24th St. #14K, a Kips Bay studio in a full-service building. While you’re at it, check out StreetEasy’s new Neighborhood Guide to Kips Bay.
Get to know our Deal of the Week.
The price: $499,000
The median asking price for a home in Midtown East was $900,000 this July, according to the StreetEasy Data Dashboard. That means our Deal of the Week is priced a little above half the median asking price for the greater neighborhood!
Buyers who put down a 20% down payment of $99,800 can expect to see monthly payments of $3,663. This includes a mortgage payment of $2,507 and maintenance fees of $1,156. Monthly payments sit well below the median asking rent in Midtown East, which was $5,100 this July.
Why you’ll love it…
Many New York City studios are short on closet space, but not this one. You’ll find a wall of closets in the dining area, plus a smaller one outside the kitchen that could be used as a pantry. There’s even a dressing area connecting the main living area to the bathroom, with built-in storage and yet another closet.
Another common studio struggle is a tiny kitchen placed in the same room as everything else. But never fear: this unit has its own separate U-shaped kitchen complete with full-size appliances — no mini-fridge here. Among these appliances are a mounted microwave and a dishwasher for ultimate convenience. There’s lots of storage in this room as well thanks to custom cabinetry. Tile backsplash and granite countertops bring the room together.
The main room of this studio has enough space for a bed, couch, desk, and dining table. It’s also filled with light thanks to three east-facing windows. Lastly, the unit’s bathroom has a shower/tub combo with a glass sliding door, a vanity with storage, and recessed lighting. To top it all off, the apartment has central air conditioning.
The unit is located on a high floor of a full-service elevator building with a 24-hour attended lobby. Amenities include a package room, concierge services, laundry facilities, bike storage, and extra storage. On-site parking with valet is available for $350 per month. Co-purchasing and pied-à-terres are permitted, and subletting is allowed every two years out of four. Located in Kips Bay, the building is near the 6, R, W, and L trains in addition to several bus lines. Buyers will have a slew of parks close by, including Bellevue South Park, Madison Square Park, and Stuyvesant Square. There’s also a Trader Joe’s just a few blocks north.
…and why you might not
The windows in the living area are the only ones in the unit — both the kitchen and bathroom are window-less. The building is right near several hospitals, which is great for healthcare workers, but not so great for those looking to avoid the sound of ambulances. But for less than $500K, so many amenities, and a generous amount of space for a studio, this one is not to be missed!
Check out the listing at 305 E. 24th St. #14K, listed by Josue Gonzalez and Brooklyn Miller of Coldwell Banker Warburg.
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