If you’re looking to buy on the Lower East Side, you likely know that the neighborhood offers a slew of newer (often expensive) housing options and older (often more affordable) units in walk-up buildings. Finding the sweet spot can be a challenge, but thankfully it does exist — like in 573 Grand St. #D103, for instance. Our Deal of the Week is a 1-bedroom unit in an elevator building complete with a luxurious enclosed balcony, tons of space, and access to a full suite of amenities.
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Learn more about our Deal of the Week!
The Price: $599,000
The price of a home on the Lower East Side was $1.2 million this August, according to the StreetEasy Data Dashboard, meaning our Deal of the Week is priced at almost exactly half the median asking price for the neighborhood!
Buyers who put down the 20% minimum down payment of $119,800 can expect to see monthly payments of $4,256. This includes a mortgage payment of $3,073 and a maintenance fee of $1,183. Monthly payments are also below the median asking rent for the Lower East Side, which was $4,495 this August.
Why You’ll Love It…
This unit is definitely large — just take a look at the L-shaped living room, which features tons of space for living furniture in the main area and a foyer/dining/WFH area in the other. Thanks to the apartment’s corner location, the living room has both east and north exposures. There’s also a picture window and sliding glass door that leads onto the unit’s piece-de-resistance: the enclosed balcony. This private outdoor space features brick walls and large windows with enough space for some furniture, or perhaps a yoga mot or plant-potting station.
The galley-style kitchen also includes a window, as well as a dishwasher and mounted microwave! Ample cabinetry provides storage space, in addition to a closet, which can serve as a pantry. Renovations could open the kitchen to the living room, if you prefer more of an expansive feeling.
Down the hallway is the bedroom, which can easily accommodate a king-size bed. This room also has tons of storage in the form of two closets, one of which is a walk-in! The bathroom is windowed and has a closet right outside of it, bringing the unit’s total closet count to five.
The home is located in a building with a slew of amenities, including an elevator, gym, 24-hour lobby attendant, two private parks with playgrounds, community room, playroom, and in-building laundry facilities. Co-purchasing, guarantors, and gifting are allowed, and subletting is permitted after two years of ownership. Location-wise, the building is situated near the East River Park and the Williamsburg Bridge, near stops for the M14A, M14D, M22, and M21 bus lines. The F, J, M, and Z trains also stop nearby on Delancey and Essex. Trader Joe’s is just a few blocks away, in addition to eateries like Doughnut Plant, Shu Jiao Fu Zhou, and Scarr’s Pizza.
…And Why You Might Not
Unfortunately, the Delancey St-Essex St stop is more than a half-mile away, which can feel like a bit of a trek in imperfect weather. And sadly, the building does not permit dogs. But if you’re looking for a place on the Lower East Side for under $600K, be sure to shortlist this one!
Check out the listing at 573 Grand St. #D103, listed by Jeremy Bolger of Brown Harris Stevens.
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