Living in Midtown has its perks, but is certainly not for everyone. Kips Bay offers the best of both worlds: a convenient location near the heart of Manhattan paired with a quieter, laid-back residential feel. And if you’ve ever thought living in this part of the city means shelling out seven figures, 305 E. 24th St. #20G is here to prove you wrong. Our Deal of the Week is a newly renovated studio in a full-service, pet-friendly building in Kips Bay for under $550K.
Learn more about our Deal of the Week!
The Price: $525,000
The median asking price for a home in Midtown East was $975,000 this July, according to the StreetEasy Data Dashboard. That means our Deal of the Week is priced $450K below the median asking price for the greater neighborhood.
Buyers who put down a 25% down payment of $131,250 can expect to see monthly payments of $3,673. This includes a mortgage payment of $2,517 and a maintenance fee of $1,156.
Why You’ll Love It…
Upon entering the unit, you’ll find a freshly renovated kitchen to your left. Custom blue cabinetry pairs well with butcher block countertops, exposed shelving, and white subway tile backsplash. The kitchen is home to a full-size fridge, stainless steel microwave and oven, and drawer dishwasher for easy cleanup after meals.
There’s a dressing room between the main living area and bathroom, with a built-in closet and room for a dresser or additional shelving. Another closet is located right outside this area for additional storage space. The main living area spans nearly 300 square feet and is drenched in light thanks to the large, east-facing windows. This space can easily fit a sofa or sectional in addition to a king-size bed.
What you’ll find outside the unit is just as impressive as what you’ll find inside. The apartment is located in a full-service, pet-friendly elevator building with a 24-hour doorman, a concierge desk, and on-site staff, including a super and property manager. You’ll also find a package room, a laundry room, bike storage, and private storage, in addition to a parking garage with no waitlist (but it costs $338/month). Air conditioning, heat, water, and gas are all included in the monthly maintenance fee.
Near Madison Square Park and Tompkins Square Park, the building is perfectly situated with access to all the best parts of Gramercy and Midtown. Restaurants like Malii Gramercy, Saravanaa Bhavan, and Vatan are nearby, in addition to Fairway and Trader Joe’s. In addition to various bus lines, the 6, R, W, and L trains are easily accessible.
…And Why You Might Not
The windows in the main living area are the only ones in the unit, meaning you won’t find any in the bathroom or kitchen. The kitchen also may be on the smaller side for some buyers, but it definitely makes up for it in function. So if you’re on the hunt for a studio in the Midtown area, be sure to give this one a look.
Check out the listing at 305 E. 24th St. #20G, listed by Risa Morley, Russell Medina, and Stephen Nardoni of Nardoni Realty, Inc.
Thinking about buying in NYC? Chat with our complimentary, licensed Concierge to learn about the buying process.
