Looking to buy in Gramercy Park? While average prices in the neighborhood are a bit below those of greater Manhattan, they’re still well in the seven-figure range. But sometimes the right unit comes along at the right price, like 333 E. 14th St. #5N. Our Deal of the Week is a renovated alcove studio in an elevator building just a block away from Stuyvesant Square Park.
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Learn more about our Deal of the Week!
The Price: $525,000
The median asking price for a home in Gramercy Park was $1.4 million this June, according to the StreetEasy Data Dashboard. That means our Deal of the Week is priced at well under half the median asking price for the neighborhood!
Buyers who put down the 20% minimum down payment of $105,000 can expect to see monthly payments of $4,025. This includes a mortgage payment of $2,800 and a maintenance fee of $1,225. The monthly payment is also below the median asking rent in Gramercy Park, which was $4,598 this June.
Why You’ll Love It…
Not every studio can say it has a foyer, but this one can. The entryway includes a large closet and is perfectly shaped to create a dining nook just outside the kitchen, which is semi-separated from the rest of the space. (That way you don’t have to feel like you’re frying eggs right next to where you sleep at night.) Recently renovated, the kitchen features gorgeous Caesarstone countertops, two-tone cabinets, and a full-size fridge and oven.
The open living area is outfitted in wide-plank hardwood floors and gets lots of light thanks to a wall-to-wall stretch of windows. But don’t worry about overheating: through-wall air conditioning keeps the place nice and cool. A sleeping nook provides the perfect place to nestle a bed and two nightstands. Better yet, a dressing area with two closets separates the sleeping alcove from the bathroom, which is decked out in floor-to-ceiling subway tile and a funky tile floor.
Plus, the unit is located in a pet-friendly elevator building with a part-time doorman, live-in super, and central laundry room. The location is great, too — perfectly situated on the corners of Gramercy Park, East Village, Stuyvesant Town, and Ukrainian Village, close to great restaurants, shopping, and entertainment. Parks are also in abundance, with Stuyvesant Square Park just a block away, Tompkins Square Park four blocks south, and Union Square a few long blocks west. Do your grocery shopping at Trader Joe’s, Wegman’s, or Whole Foods, or grab a bite at Au Za’atar, Veselka, Veniero’s Pasticceria & Caffe, or other nearby restaurants. When you need to leave the neighborhood, the L train is less than 500 feet away, and the N, Q, R, 4, 5, 6, and W trains all stop at Union Square for easy transit throughout the city.
…And Why You Might Not
It goes without saying that a studio is not ideal for everyone, but with a separate kitchen, dressing area, and sleeping alcove, this is probably the furthest a studio can feel from a studio. The monthlies are also on the higher side, but you do get a lot of amenities in the building. So if you’re looking for a studio in the East Village and Gramercy Park area, be sure to check this one out!
Check out the listing at 333 E. 14th St. #5N, listed by Charlie Miller of Corcoran.
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