Rental of the Week

Two Balconies in a Classic Lenox Hill Co-Op for $2,295

By Michele Petry March 12, 2020

This treetop view in a classic co-op is a relative bargain in its Upper East Side neighborhood.

It’s hard to beat the classic Upper East Side charm of the Cherokee, a Beaux-Arts co-op with a distinctive gated entrance and courtyard. Our Rental of the Week is a sunlight-filled unit in this iconic building with two — yes, two! — balconies facing tree-lined East 78th Street. To top it off, this Lenox Hill 1-bedroom is renting for well below the neighborhood median. Let’s take a closer look!

Address: 516 E. 78th St. #3O

Price: $2,295

Size: 1-bedroom

Neighborhood: Lenox Hill

Best feature: Allow me to repeat: TWO balconies. Yes, they are small at 3′ x 6′ each, but still — twin outdoor spaces in Manhattan is a rare and beautiful thing. Get ready to plant that herb garden you’ve been dreaming of!

As if that wasn’t enough of a selling point, the home also boasts a kitchen with granite counters and a dishwasher, a huge entry closet for storage, and even an in-unit washer and dryer. The building is cared for by a live-in super, and the rent includes heat, hot water, gas, and electricity.

Why it’s a deal: The median rent for a 1-bedroom on the Upper East Side is $3,200 per month. That puts this Lenox Hill 1-bedroom at about $1K less than the neighborhood average.

Lenox Hill

517 East 77th Street

$2,800 No Fee

1 |

Lenox Hill

443 East 78th Street

$3,200 No Fee

1 |

Lenox Hill

508 East 79th Street

$3,150 No Fee

1 |

Yorkville

208 East 95th Street

$3,200 No Fee

1 |

Yorkville

328 East 85th Street

$2,500 No Fee

1 |

Yorkville

233 East 89th Street

$2,695 No Fee

1 |

Lenox Hill

226 East 75th Street

$3,000 No Fee

1 |

Lenox Hill

243 East 60th Street

$3,000 No Fee

1 |

Yorkville

227 East 96th Street

$2,595 No Fee

1 |

Lenox Hill

403 East 78th Street

$2,928 No Fee

1 |

Lenox Hill

509 East 77th Street

$3,100 No Fee

1 |

Yorkville

222 East 95th Street

$3,022 No Fee

1 |

Biggest drawback: This apartment comes fully furnished, which may be a good thing for some renters but certainly could be a bad thing if it’s not to your taste. Part of the furnishing is a built-in Murphy bed in the bedroom, which, again, might not be to everyone’s liking.

In addition, the location is very far east, which means it’s a fairly long walk to the nearest subway (the Q train at 86th Street). But the value for the neighborhood in this Lenox Hill 1-bedroom is off the charts, and anyone in the market for outdoor space in Manhattan should definitely check it out.

See the listing: 516 E. 78th St. #3O, listed by Elka Heino of Douglas Elliman.

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