Image of 201 West 16th Street #10C Deal of Week

This alcove studio is located on one of the nicest blocks in Chelsea.

Home to Google’s East Coast HQ and some of the city’s most gorgeous townhouses, Chelsea balances upstart energy with historic charm. Factor in the neighborhood’s  convenient location and the result is one of the most desirable neighborhoods in Manhattan. Although high housing prices are the norm, there are still affordable finds. Take our Deal of the Week. Located on just off of Seventh Avenue, 201 W. 16th St. #10C is an alcove studio with lots of space and light. Let’s check it out.

The Price: $475,000

The median asking price for an apartment in Chelsea is $2,250,000, according to the latest StreetEasy Market Report. That puts our Deal of the Week at less than a quarter of the median asking price for the neighborhood.

Buyers who put down the 20% minimum downpayment of $95,000 can expect to see monthly payments of $3,184. That includes a monthly mortgage payment of $1,856 and a maintenance fee of $1,328.

Why You’ll Love It…

This apartment has its own foyer, separated kitchen and alcove sleeping area, which makes it feel more like a sleek 1-bed than a studio. The living area has enough space for a sofa and chairs in addition to a dining table. There are several over-sized, southeast-facing windows. The beamed ceilings and pale oak wood flooring give the place an air of sophistication hard to find at the this price point.

The kitchen is separated from the rest of the living area and has its own window. It’s outfitted in stainless steel appliances — including a dishwasher — as well as slate tile floors, granite countertops and plenty of cabinet space.

See More Chelsea Apartments Between $400K-$600K Article continues below

The sleeping alcove can accommodate a queen-sized bed. In the bathroom, there’s classy white and black marble tiling.

The building offers a doorman, resident superintendent, laundry room, additional storage, and a new common deck with views of the Manhattan skyline. Plus, cooking gas, heat, and hot water are all included in the maintenance. Co-purchasing, gifting, guarantors, parents buying, pied-à-terres and sublets are all allowed.

Location-wise, the building is right down the street from Chelsea Market and The High Line. The immediate neighborhood is packed with great gyms, eateries, and cafes. The 1 train is a few steps away, and the A, C, E, and L trains are just around the corner.

… And Why You Might Not

The monthly maintenance fees are $1,300. And while the set-up is spacious, there is only one closet. If, however, you’re looking for a convenient, sophisticated place to live solo, don’t cross this one off the list.

Check out the listing at 201 W. 16th St. #10C, listed by Jimmy Johnson of Compass.


See More Manhattan Apartments Under $800K Article continues below

Inspired to find your next place in New York? Whether you’re looking to rent or to buy, search NYC apartments on StreetEasy