NoMad is short for North Madison, due to its location to the north of Madison Square Park. Not only does this neighborhood have an awesome location, but it’s also filled to the brim with great restaurants, shops, conveniences, and boutique condo buildings. While buying there might seem out of reach for most, there are still deals to be found in the neighborhood. Take 126 E. 30th St. #4A for instance. Our Deal of the Week is a studio apartment just a few blocks north of the park with a renovated kitchen and bathroom.
The Price: $380,000
The median asking price for a home in Midtown South (which contains NoMad) was $1.2 million this May, according to the StreetEasy Data Dashboard. That puts our Deal of the Week at about a third of the median asking price for the neighborhood!
Buyers who stick with the 20% minimum down payment can expect to see monthly payments of $2,590. This includes a mortgage payment of $1,761 and a maintenance fee of $829—not bad by NYC standards! It’s also well below the median asking rent in Midtown South, which reached $5,000/month in May!
Why You’ll Love It…
Without a doubt, the star of the show in this unit is the kitchen. Renovated for maximum convenience and a picturesque aesthetic, it features a full-size oven and fridge, plus a large sink. A mix of open shelving and cabinetry provide plenty of storage, and butcher block countertops add functionality with modern touch. Additionally, there’s enough room for a stool and small seating area for flexible dining.
Besides a great kitchen, the studio features oversized windows, hardwood flooring, and a large storage area by the bathroom. Speaking of the bathroom, it’s also been renovated with a large walk-in shower. Plus, it has a skylight!
The unit is located in a 16-unit co-op that allows co-purchasing, gifting, and subletting on a case-by-case basis. Installing your own washer and dryer is also permitted with board approval.
The 6 train at 28th Street is less than 500 feet away, and the N, R, and W trains are under half a mile away, too. Madison Square Park is just four blocks south. Also nearby? Great restaurants like Penelope, Sarabeth’s, and Marta—plus a Trader Joe’s!
… And Why You Might Not
The two closets don’t have any doors, so you’ll have to use curtains or get creative. And while the windows are large, they’re north-facing, which means you won’t get great light throughout the day. The unit is also a fourth floor walk-up, and the building has no laundry. But at this location and this price, it’ll be hard to find a better deal!