Roosevelt Island listings don’t come around too often, considering there are only a handful of buildings on this narrow sliver of land between Manhattan and Queens. In fact, there were only 19 listings on the island this August, compared to the 1,000+ listings on the Upper East Side. So if you’ve been looking for a chance to live in this often overlooked neighborhood, here’s an opportunity with an address that almost sounds made up: 555 Main St. #1111. Our Deal of the Week is a renovated studio located in a full-service building close to the NYC Ferry, the F train, and the famous Roosevelt Island aerial tramway!

The Price: $449,000

The median asking price for a home on Roosevelt Island was $989,000 this August according to the StreetEasy Data Dashboard. That means our Deal of the Week is priced at just over half the median asking price for the island!

Buyers who put down the 20% minimum down payment of $89,800 can expect to see monthly payments of $2,843. This includes a monthly mortgage payment of $2,151 and maintenance fees of $692. It’s also far cheaper than renting on Roosevelt Island, where the median asking rent was $4,183 this August!

Why You’ll Love It…

This apartment may be a studio, but its layout makes it feel much more like a proper one bedroom. The entryway is its own hallway complete with closet space, so it feels like a true foyer. In the main living area, you’ll find huge windows letting in lots of light, ample built-in cabinetry and storage, and a semi-built-in murphy bed. On the other side of the hallway there’s a small nook that makes a great work-from-home space or dressing area.

The entire studio was renovated six years ago, so the floors, insulated windows, and high-end finishes throughout are new. This is especially noticeable in the spacious U-shaped kitchen featuring marble countertops and custom cabinetry. You’ll have all the necessary stainless steel appliances, including a full-size refrigerator, a mounted microwave, and a dishwasher.

The bathroom, located off of the front nook, also has new finishes. The tub-and-shower combo makes for a spa-like experience while the vanity provides decent storage space.

Located in a full-service co-op building, this unit has access to its own private storage unit and common amenities including a fitness center, laundry room, bike storage, dog run, and indoor pool. A 24-hour doorman and package room make deliveries a breeze. Outside the building you’ll find all that Roosevelt Island has to offer such as parks, playgrounds, and the river walk. The F train isn’t too far away for easy access to Manhattan or Queens. You can catch the NYC Ferry nearby for a more scenic route, walk or bike the Roosevelt Island Bridge into Queens, or elevate your commute (literally!) by taking the historic Roosevelt Island Tramway – a city attraction in and of itself.

…And Why You Might Not

Studios aren’t for everyone, and it’s fair to say that you won’t be able to fit a full set of living room, bedroom, and dining room furniture in this unit. There isn’t a huge amount of closet space, although there is some. Living on Roosevelt Island also isn’t for everyone, as your public transit options and nearby conveniences are a little limited compared to other neighborhoods. But for as rare as Roosevelt Island listings are, this one is certainly a deal!

Check out the listing at 555 Main St. #1111, listed by Kaja Meade of Corcoran.