Whether it’s for the easy commutes or being in the heart of it all, living in Midtown Manhattan can be a great choice for lots of buyers. Midtown East neighborhoods like Murray Hill can combine the convenience of Midtown living with a more residential feel, and often, prices in these nabes are lower than borough averages. For example, take a look at 10 Park Ave. #4B. Our Deal of the Week is a studio in a full-service Murray Hill building with easy access to both Grand Central and Penn Station — all for under $600K.
Get to know our Deal of the Week.
The price: $528,000
The median asking price for a home in Midtown East was $890,000 this August, according to the StreetEasy Data Dashboard, compared to Manhattan’s overall median of $1.3 million. That puts our Deal of the Week’s price well below the median asking price for both the greater neighborhood and the borough.
Buyers who put down a 20% down payment of $105,600 can expect to see monthly payments of $4,072. This includes a mortgage payment of $2,990 and maintenance fees of $1,082. That puts monthly payments well below the neighborhood’s median asking rent, which sat at $5,000 this August.
Why you’ll love it…
When you step into this unit, you’ll be greeted by oak hardwood floors, beamed ceilings with wide moldings, and perhaps most importantly, a central HVAC system. The entryway is quite large and could also serve as a spot for a work-from-home station. The entryway then leads to the main living area, which is anchored by a large south-facing casement window, meaning it opens outward to let the outdoors in. This room also has a very large closet with French doors. A murphy bed with built-in cabinetry allows the space to transform between a cozy bedroom and a living room fit for hosting.
Through a doorway you’ll find the windowed kitchen, which features lots of storage space in the form of white cabinetry with gold-tone hardware. A suite of stainless steel appliances includes a full-size fridge and oven plus a mounted microwave. The classic white subway tile backsplash complements the darker tile floor and granite countertops, and there’s also space outside the kitchen in the living area for a dining set. Located off the foyer, the bathroom has a timeless look with marble tile, a bath tub, and a pedestal sink.
This unit is located in an art deco, pet-friendly co-op building with a prime spot on Park Avenue. Amenities include elevators, a 24-hour doorman and concierge in addition to a package room, laundry facilities, a live-in superintendent, bike room, additional storage, and rooftop terrace. Pied-à-terres, co-purchasing, guarantors, and parents purchasing are all permitted, as is subletting after one year of residence.
Location-wise, the building is about half mile from Grand Central Terminal and Penn Station, making it a great choice for those who travel frequently both within the city and outside it. The location is truly in the heart of the action, just two blocks from the Empire State Building, The Morgan Library & Museum, and all the restaurants Koreatown, Murray Hill, and Midtown have to offer. The building is also situated in between Bryant Park and Madison Square Park, and the East River Esplanade isn’t far either. Grocery shopping is a breeze with both a Whole Foods and a Trader Joe’s nearby.
…and why you might not
While the unit has a kitchen separate from its main living area, it doesn’t have a dishwasher, and the sink looks small. Outside, those that don’t like the hustle-and-bustle may dislike the daytime traffic that Park Avenue can bring. But if you’re looking to be in the thick of it all in a building full of amenities, look no further.
Check out the listing at 10 Park Ave. #4B, listed by Kenny Eng of Keller Williams Legendary.
Thinking about buying in NYC? Chat with our complimentary, licensed Concierge to learn about the buying process.
