What the cheapest apartments in Manhattan look like: a review from a realtor

Famous New York realtor Dmitry Stasyuk leads to your site heading about the cheapest apartments in the city. This time, he compiled an overview of inexpensive apartments for sale in Manhattan in January 2021. Further - from the first person.

Apartments in cooperatives (cooperatives are intended primarily for their own residence, they are unlikely to be sold to investors)

$ 245

The cheapest option is a small studio in the Midtown East area in the Tudor City residential complex. This complex of houses is known for its small apartments and has been included in my review more than once.

Usually the cheapest option is something completely dead, but in this case, an apartment is fully renovated. Lots of shelves and cabinets - perfect for a small apartment.

There was no room for a large refrigerator, so they put two small ones. The bathroom is also in good condition.

The monthly payment for the apartment is $ 985. Plus another additional payment of $ 68,47 until February 2023.

$ 249

Another apartment in the same residential complex. The size of the apartment is even smaller than the previous version.

The abundance of computer graphics in the photo does not give an assessment of the condition. But judging by the kitchen, it can be quite residential.

The monthly payment for the apartment is $ 733.

$ 250

The studio is located at 457 West 57th Street, this is already the Midtown West area. From this house to Central Park - less than 10 minutes.

The window is dark. Either they were filming at night to add drama, or just outside the window a blank wall. Everything is under repair.

At first glance, the apartment has nowhere to put the bed, but лWith a simple movement of the hand, the wardrobe turns into a bed. It's called Murphy bed.

Monthly payment for the apartment - $ 838

$ 275

The last co-op option is a studio at 140 West 69th Street. This is the Upper West Side area. In my humble opinion - the best area in Manhattan. From home to Central Park - 5 minutes

Everything is under repair, no options. Ceilings - 3,20 m. Two high windows. The space is immediately felt.

Hall in marble. House with an elevator, dorm.

Monthly payment for the apartment - $ 903

Let's move on to the second form of ownership - condominiums.

There are no restrictions on buying or renting. Suitable for both living and investment.

$ 319

The cheapest condominium apartment is a studio in central Harlem at 48 West 138th Street. This is an old rental house built in 1940, which was converted into a condominium several years ago. With appropriate renovation of the house and apartments.

The kitchen is new. The bathroom is completely renovated.

One small wardrobe for the whole apartment. Total area - 375 sq. ft / 35 sq. meters.

Since this is a condominium, the owner will not be paying one general combined payment, but two separate ones. House payment - $ 323 per month, property tax - $ 363.

$ 379

The next option is located in the north of Manhattan, Hudson Heights (or Washington Heights). Address: 255 Cabrini Boulevard, roughly the level of West 187 Street. From the "center" further, but immediately we get a much larger area. In this case, the size is 530 sq. ft / 49 sq. meters

There is space for a kitchen, a dining area, a living room, and an office.

The condition of the apartment is quite residential. And judging by the bathroom, this living condition has been holding for 40 years. Although the kitchen has recently changed cabinets and appliances.

Monthly for home services - $ 425, tax - $ 328.

$ 385

Now fast forward to the "Center" Upper West Side, 112 West 72nd Street. Literally 3 minutes to Central Park. How did it happen that one of the cheapest apartments ended up in one of the best areas? The answer is simple: the size of the apartment. The size itself is not indicated in figures, there is no layout. For other apartments in this line, the size is 270 sq. feet or 25 sq. meters.

Just outside the window is a wall, and sometimes neighbors. The kitchen was completely renovated. But we decided not to bother with the bathroom. It is still here in the 80s of the last century.

The small size also has advantages - very low fees. Home - $ 272, city tax - $ 386 per month. For this area, it's a penny.

Now let's see if apartment prices have dropped due to the pandemic

In October 2019, the cheapest apartment in a cooperative cost $ 279, in September 000 - $ 2019, and in May 259 - $ 000. Today, the cheapest cooperative option costs $ 2019. We can state that prices in this segment virtually unchanged. The cheapest apartments are always in demand.

At first glance, the situation is different with apartments in condominiums. In October 2019, the cheapest condo apartment cost $ 410, in September 000 - $ 2019, and in May 399 - $ 000. Today, the cheapest option in a condo costs only $ 2019.

But this rather significant difference can be explained simply - many small apartments have entered the market. I looked at the statistics for the cheapest house in Harlem (48 West 138th Street), where this apartment is sold for $ 319. In the same house, two small apartments were sold in May 000 for $ 2019 and $ 305. The same situation with the second cheap one. house 000 Cabrini Boulevard, where the apartment has now come out for $ 318. In September 000, an apartment of the same layout was sold for $ 255. So, we can make a general summary - the cheapest segment of Manhattan real estate was practically not affected by the coronac crisis.