As more homes hit the market and sales prices continue to drop, new opportunities are arising. While Upper Manhattan may feel far from the hustle and bustle, it’s a great alternative to moving to another borough for low prices. Our Deal of the Week is a newly renovated 1-bedroom at 854 W. 181st St. #3E in Hudson Heights, for which no board approval is required — more proof that there are great things north of Harlem.
The Price: $425,000
According to the latest StreetEasy Market Reports, the median sale price for a home in Upper Manhattan is $627,500. That puts our Deal of the Week at about $200,000 below the median for the area.
Buyers who put down the minimum 20 percent down payment of $85,000 can expect to see monthly payments of about $2,542. This includes a mortgage payment of roughly $1,780 and a monthly maintenance fee of $762 — not bad by NYC standards. For reference, the median rent in Upper Manhattan is currently $2,350.
Why You’ll Love It …
Not only has this unit been recently gut-renovated, but it’s also a sponsor unit, meaning buyers won’t need to be approved by the co-op board in order to purchase it.
Renovations include a brand-new kitchen, which features a mix of custom white cabinetry and shelving, and new stainless-steel appliances, including a dishwasher. There’s also a white subway tile backsplash and white countertops.
That white subway tile can also be found in the bathroom. A new tub with a frameless glass shower wall takes center stage there. The bedroom is spacious, with its own closet. There are also two more closets across the hall from the bathroom for maximum storage.
This apartment is located in a great elevator building, with a full rooftop garden and deck that offer amazing views of the city and George Washington Bridge. There’s also onsite laundry, bike storage, a live-in super, 24-hour security, and a pet-friendly policy. Plus, there’s a yoga studio and restaurant on the first floor of the building.
The location is pretty strong, especially for those who love the outdoors. Fort Washington Park and Bennet Park are both nearby, offering easy access to jogging trails, bike paths, gardens, and Hudson River activities. The express A train stops just down the street at 181st Street.
… And Why You Might Not
This co-op currently has no policies in place for pied-à-terre use or subletting, so this home won’t fit every buyer’s needs. There’s also no dining area in the living room, since the kitchen is separate — but a small set should be able to fit. Not every buyer will like that this back-facing apartment has very limited views, either. But if you’re looking for low monthlies, no co-op board hassles, and a convenient Upper Manhattan location at a reasonable price, this is a find.
Check out the listing at 854 W. 181st St. #3E, listed by Paul Chapru of Corcoran.
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