If the Upper East Side is your dream, but you’re on a budget, you’re in luck. This area’s cache, with easy access to Central Park and museums, doesn’t have to be out of reach. Our Deal of the Week, 301 E. 63rd St. #9A., is a Lenox Hill 1-bedroom with modern updates in a doorman building, for a remarkably low price tag. Check out the video walkthrough on the listing, and read on for more.
The Price: $325,000
The median asking price for a 1-bedroom apartment on the Upper East Side is $749,000, and for Manhattan overall it’s $849,999. That puts our Deal of the Week at less than half of the median asking price for both the neighborhood and the borough.
Buyers who put down the 20% minimum down payment of $65,000 can expect to see monthly payments of $3,122. This includes a mortgage payment of $1,348 and a maintenance fee of $1,774. By comparison, median rent for an Upper East Side 1-bedroom is $3,095.
Why You’ll Love It…
This much space in Manhattan at this price is virtually unheard of! This Lenox Hill 1-bedroom’s open living room boasts a huge triple window and ample space for a dining area in addition to couches and an entertainment set. The kitchen has been completely redone with cherry cabinetry, a fun tiled backsplash, and stainless steel appliances. French doors lead to the bedroom, which has two more windows and two custom closets separating it from the beautifully renovated bathroom.
The building, on 63rd Street & Second Avenue, has a full-time doorman and an elevator. Plus, there’s a laundry room, a bike room, and a roof deck for when you need a fresh-air break. There are plenty of options transportation-wise, with the F and Q trains just a block over and the N, R, W, 4, 5, and 6 less than a quarter mile away. Upper East Side mainstays like Bloomingdale’s and Serendipity 3 are also right nearby.
Manhattan 1BRs Under $700K on StreetEasy Article continues below
… And Why You Might Not
If you’re thinking an asking price this low must come with a catch, you’re not wrong. The maintenance fee here is definitely high — more than the monthly mortgage payment, in fact. But this isn’t a land-lease situation; the fees contribute to the building’s 2010 mortgage on the underlying land. For shoppers who thought a doorman building on the Upper East Side was beyond their means, this Lenox Hill 1-bedroom is a stellar find.
Check out the listing at 301 E. 63rd St. #9A, and contact a StreetEasy Expert on the listing for more information.
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