The Upper East Side is a huge area containing several smaller submarkets, each with its own unique charm. Our Deal of the Week is in Lenox Hill, which spans the southern end of the UES, from Central Park to the river. It’s home to the high-end shops of Madison Avenue and great museums like the Frick Collection. But it also contains lots of prewar apartment buildings. This prewar Lenox Hill 1-bedroom, 408 E. 73rd St. #5B, boasts exposed brick and stainless steel appliances for an incredible price.
The Price: $489,000
This is a neighborhood with cache! The median asking price for a home on the Upper East Side is $1.7 million, according to the StreetEasy Data Dashboard. That puts our Deal of the Week at more than a million bucks less than the area’s average price.
Buyers who put down the 20% minimum down payment of $97,800 can expect to see monthly payments of $2,653. This includes a mortgage payment of $1,668 and a maintenance fee of $985.
Why You’ll Love It…
This Lenox Hill 1-bedroom greets you with an all-new kitchen. There’s a big window and plenty of bright white storage. Stainless steel appliances include a dishwasher, and the deep farmhouse sink is also stainless steel — quite the statement piece. A breakfast bar separates the kitchen from the living room, which is bathed in light thanks to two large, south-facing windows.
An exposed brick wall runs the entire length of the space, and the south wall is decked in brick as well, with artistic arches framing the windows. The queen-size bedroom features another window and more brick, plus a closet. It also sports the same beautiful pale hardwood floors found throughout the apartment. The sleekly updated bathroom has a glassed-in stall shower.
Finally, our Deal of the Week is set in a prewar building with a laundry room and generous pied-à-terre, sublet, and purchase policies. Plus, it’s just a few blocks away from both the Q train and John Jay Park. You’ll also find plenty of shops and eateries on nearby 1st and 2nd Avenues.
Upper East Side 1BRs Under $600K on StreetEasy Article continues below
… And Why You Might Not
The living room windows get great sun, but the windows in the bedroom and the kitchen don’t seem to get much. They likely face an airshaft. Additionally, it’s unusual for a co-op to have such liberal financial and subletting policies. This could be something a buyer would want to look into. And lastly, this Lenox Hill 1-bedroom is a fifth-floor walkup. Still, you’d be hard-pressed to find a better price in the neighborhood.
To learn more, check out the listing at 408 E. 73rd St. #5B, in Lenox Hill.
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