Finding a studio in Manhattan for under $500K is easier said than done — especially if you want amenities like a Murphy bed or ample closet space. Miraculously, our Deal of the Week checks all those boxes and then some. Its best asset just may be its wood-burning fireplace, which is the perfect thing to help wait out a New York winter. Here’s everything you need to know about 434 E. 52nd St. #3C.
Learn more about our Deal of the Week!
The Price: $425,000
The median asking price for a home in Midtown East was $995,000 this September, according to the StreetEasy Data Dashboard. That puts our Deal of the Week at below half the median asking price for the greater neighborhood!
Buyers who choose to put down the 20% minimum down payment of $85,000 can expect to see monthly payments of $3,889. This includes a mortgage payment of $2,448 and a maintenance fee of $1,441. Monthly payments are also far below the median asking rent in Midtown East, which stood at $4,500 this September.
Why You’ll Love It…
Many studios are cramped for space, but this one has ample room. The foyer is spacious, complete with its own closet — one of four total in the unit! Then, enter the living area and sleeping alcove, which provides separate areas for each. The sleeping alcove is home to a Murphy bed, so you can stash the bed away whenever you’d like. The living area is also home to the star of the show: the wood-burning fireplace!
The living area connects to the kitchen via a semi-open bar, offering food prep space and space for two bar seats. The kitchen also has its own window, as does the bathroom. Also in the bathroom is a deep soaking tub.
This unit is located in the Southgate complex, which was developed by Bing and Bing and designed by the renowned architect Emery Roth. It features a large private garden, laundry room, storage, bike room, children’s outdoor play area, 24-hour doormen, handymen, and live-in super. The building is also pet-friendly, pied-à-terres are permitted, and sublets are allowed three out of five years after one year of ownership.
The apartment is located in Beekman, a mini-neighborhood in the easternmost part of Midtown East, and is accessible via the E, M, and 6 trains. The building is also right along the East River at the end of a cul-de-sac. There are ample eateries and bars nearby, including The Smith, Ophelia Lounge, and Totto Ramen.
…And Why You Might Not
The kitchen isn’t the most up-to-date. Specifically, it doesn’t have a dishwasher, and the appliances it does have aren’t stainless steel. FDR Drive being right behind the building also may create some noise. However, if you’re looking to buy in Midtown East and want a bit more space for your buck, look no further!
Check out the listing at 434 E. 52nd St. #3C, listed by Kliment Merdzhanski of Compass.
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