Believe it or not, it is possible to purchase a beautiful home in Manhattan for $400,000. In Washington Heights, at the northern end of the island, you’ll find a median asking price that’s about $1 million below the median for the borough overall. There are plenty of deals to love here, including our Deal of the Week: 515 Edgecombe Ave. #43. This Washington Heights 1BR is thoughtfully renovated, with in-unit laundry, a dishwasher, and low monthly maintenance costs too. It’s like a Manhattan miracle!
The median asking price for a home in Washington Heights is $590,000, according to the StreetEasy Data Dashboard. That puts our Deal of the Week at nearly $200K below the average price for the neighborhood.
Buyers who put down the 20% minimum down payment of $80,000 can expect to see monthly payments of $1,984. This includes a mortgage payment of $1,358 and a maintenance fee of $626 — low by NYC standards. By comparison, the median asking rent in Washington Heights is $2,200.
You wouldn’t be able to tell this building was built in the 1920s from the inside of this Washington Heights 1BR. It’s renovated from top to bottom with modern amenities, especially in the kitchen. The open space is outfitted in custom two-tone cabinets and quartz countertops. Stainless steel appliances include a dishwasher, and a peninsula creates a perfect breakfast bar. Speaking of amenities, there’s a Bosch washer/dryer tucked away just outside the bathroom. And inside the bathroom, you’ll find funky black-and-white tiled floors, modern finishes, and a big, bright window.
The unit is big on storage space as well, with a closet at the entryway and a huge walk-in in the bedroom. That one is so large that it’s currently serving as a home office — it even has a built-in desk that saves a ton of space. In addition, the living room and bedroom are both open and spacious, with windows that directly face leafy Coogan’s Bluff in Highbridge Park. And finally, the co-op building is just a few blocks from multiple subway lines.
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It’s called “the Heights” for a reason — the neighborhood is very far north. This Washington Heights 1BR probably wouldn’t be ideal for those who need to commute all the way down to Lower Manhattan. (However, the nearby 1 and C trains are surprisingly fast!) Additionally, the building has no elevator.
To learn more, check out the listing at 515 Edgecombe Ave. #43, in Washington Heights.