With New York real estate prices continuously climbing, it seems that the elusive “starter apartment” has disappeared. But 521 E. 83rd St. #4W is proof that there are still some great 1-bedroom apartments out there for under $500,000. Our Deal of the Week is a Yorkville unit outfitted in exposed brick and huge windows just steps from Carl Schurz Park. And to top it all off, there’s a huge walk-in closet that can easily be outfitted as your new work-from-home station.
The Price: $435,000
The median asking price for a home on the Upper East Side was $1.6 million this June according to the StreetEasy Data Dashboard. That means our Deal of the Week is priced at under one-third of the median asking price for the greater neighborhood!
Buyers who stick with the minimum 20% down payment of $87,000 can expect to see monthly payments of $3,033. This includes a mortgage payment of $1,830 and a maintenance fee of $1,203. It’s also less than the median asking rent on the UES, which was $3,500 this June.
Why You’ll Love It…
The layout of this apartment creates both a formal dining room and living room, plus a separate kitchen for maximum utility. Light is ample in the living room thanks to the oversized south-facing windows, and the kitchen has a nicely sized window, too. Throughout the unit, dark hardwood floors and exposed brick create a charming, old-school feeling.
The bedroom has a closet, but there’s another larger, walk-in closet in the dining room. It’s so large, in fact, that it’s currently outfitted as a home office! The dining space is also appropriately sized for a small table or breakfast nook, and enjoys the same exposed brick found in the kitchen and bedroom.
The kitchen offers classic looks with some modern updates, including full-size stainless steel appliances and butcher block countertops. There’s also abundant cabinetry both overhead and underneath the counters for maximum storage. One lower cabinet is entirely open, allowing you to install your own shelves or use it to store smaller appliances.
Located in a gorgeous pre-war building, this unit has easy access to Carl Schurz Park and the East River and all the trails, sports fields, and dog runs they provide. You’ll also have access to common laundry and storage in the basement. Pets, pied-a-terre, subletting, and co-purchasing are all allowed.
… And Why You Might Not
While the bedroom has a window, it’s fairly small and seems to be facing an air shaft. You’ll likely get most of your light in this room from the living room, thanks to the windows at the top of the bedroom walls. While this is clever, it might also make you feel a little less private. It appears there’s another air shaft window in the dining room, but the rest of the apartment gets great natural light.
And unfortunately, this unit is located on the fourth floor of a walk-up apartment. But if you’re willing to add some more cardio to your daily routine, be sure to check this one out!