Finding a studio in Manhattan for under $500K can be pretty challenging, and often means making certain concessions, like living in a walk-up or even a building without laundry. But sometimes you find a place that ticks all the boxes, including the price. For example, take 225 E. 73rd St. #5F. Our Deal of the Week is a Lenox Hill studio with plenty of storage space in a full-service building, complete with a roof deck, courtyard, and fitness center.
Learn more about our Deal of the Week!
The price: $455,000
The median asking price for a home on the Upper East Side was $1.7 million this April, according to the StreetEasy Data Dashboard. That means our Deal of the Week is priced at below a third of the median asking price for the neighborhood!
Buyers who put down a 25% down payment of $113,750 can expect to see monthly payments of $3,556. This includes a mortgage payment of $2,166 and maintenance fees of $1,390. An assessment of $138.52 will be in place from May 2027 through April 2030. Monthly payments are still well below the Upper East Side’s median asking rent, which sat at $4,300/month this April.
Why you’ll love it…
The entryway of this unit already sets it apart from other studios. It has a formal foyer with a sizable closet, and a curved archway leading to the main living area. If you need more storage space, don’t fear — there are two additional closets throughout the unit. One is located in the living area, the other is located off a dressing area connected to the bathroom. The dressing area can easily fit a dresser or armoire for more storage, too. The connected bathroom features black-and-white tile, a shower/tub combo, and a pedestal sink.
Back in the main living area, you’ll find gorgeous hardwood floors and the piece-de-resistance: a brick, wood-burning fireplace. There’s nothing better than a real fireplace when you’re cooped up inside during a winter snowstorm. The living area is also big enough for a sofa, bed, and small dining set. Three windows overlook the interior of the building rather than the street, providing natural light and treetop views.
The kitchen is located in its own alcove that sets it apart from the main area of the studio. It has its own window as well as a stacked fridge and freezer, an oven, and white cabinetry.
This unit is located in an elevator building absolutely teeming with amenities, from the renovated fitness center to the landscaped rooftop deck with lounge furniture. There’s also a shared courtyard with grills, a laundry room, a bike room, a full-time doorman, and additional storage space (when available). Both pets and pied-à-terres are permitted with board approval.
Location-wise, the building is situated right in the heart of Lenox Hill, less than 500 feet away from a Q train stop and within a quarter-mile of the 6 train. It’s also about halfway between Central Park and the East River, so you’ll have your pick between lounging on the lawn or traversing John Finley Walk. You’ll have access to all the Upper East Side has to offer, including the Frick Collection and tons of boutiques, designer stores, and art galleries. The surrounding blocks are also full of diners, cafes, bars, and restaurants like Mission Ceviche, JG Melon, and Up Thai.
…and why you might not
The monthlies are on the higher side (but do include electricity), and you’ll have to factor the monthly assessment into your budget. The kitchen is also a bit small without much overhead storage, but that’s par for the course when it comes to studios. Otherwise, this home has plenty to offer, and at a great price!
Check out the listing at 255 E. 73rd St. #5F, listed by Tina DeRico of Brown Harris Stevens.
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