Looking to buy on the Lower East Side? This no-nonsense Manhattan neighborhood offers great restaurants, nightlife, and other amenities, with median asking prices similar to those of the greater borough. And while its housing stock tends to be on the older side, there are some great renovated units, like 153 1/2 Stanton St. #2FE. Our Deal of the Week is a studio with a sleek kitchen and upgraded finishes. Note that this unit has income restrictions.
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Learn more about our Deal of the Week!
The Price: $499,000
The median asking price for a home on the Lower East Side was $1.4 million this June, according to the StreetEasy Data Dashboard. That means our Deal of the Week is priced at just over a third of the median asking price for the neighborhood! Please note that this unit has income limits of $179,355 for a household of one, and $205,095 for a household of two.
Buyers who put down the 10% minimum down payment of $49,900 can expect to see monthly payments of $3,445. This includes a mortgage payment of $2,970 and a maintenance fee of $475 — very low by NYC standards!
Why You’ll Love It…
This home is only one flight up and features a soundproofed ceiling and floor, so you can do that at-home HIIT workout without bothering your downstairs neighbors. While the kitchen and living area are in one room, the L-shape of the kitchen cabinets and appliances helps provide some separation. Enjoy easy cooking and cleanup with stainless steel countertops and full-size appliances, including a dishwasher! White subway tile backsplash and plenty of cabinet space pull the whole space together.
Past the kitchen you’ll find an original red brick wall and fireplace, which are perfectly situated to create a sleeping area next to two extra-large windows. The room also has a large closet and boasts new cherry hardwood floors. The bathroom is on the other end of the apartment and features a vanity with storage, plus a soaking tub.
Just one of 10 units in a well-maintained co-op, the studio has access to a private courtyard, bike room, and live-in super. Pets of all sizes are allowed with board approval, and subletting is permitted after four years of residency.
But the best thing about the building may be its location in the heart of the Lower East Side, just a few blocks from the F, J, M, and Z trains at Delancey/Essex Streets. Grocery shopping is a breeze with nearby Whole Foods, Essex Market, and Trader Joe’s, and you’ll have your fair share of outdoor space with Hamilton Fish Park and Sara D. Roosevelt Park located within a few blocks. Enjoy all the great restaurants and nightlife the neighborhood has to offer, like Clinton St. Baking Company, Katz’s Delicatessen, Pig & Khao, Ivan Ramen, Pianos, Delancey Rooftop, The Back Room, and Mercury Lounge.
…And Why You Might Not
The building does not have laundry, but does allow washer/dryers to be installed in the unit. Plus, since the place is a studio, it’s not the most spacious. But for the price point and location, it’s definitely a steal!
Check out the listing at 153 1/2 Stanton St. #2FE listed by Simon Wong of Corcoran.
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