MAPS: Where to Find the Best Studio Bargains in NYC Right Now
Let’s face it, if you’re the average New Yorker and aren’t shacked up or down with having a roommate, a studio is probably where you’re heading. According to data from CityRealty, the median price for available studio condominiums in Manhattan and northern Brooklyn stands at $782,000. While there are a paltry number of these apartments available, roughly 200, these pint-sized units allow many first-time condo buyers and those with smaller budgets to enter the condo market.
For neighborhoods with more than two studio condo units on the market, Washington Heights has the cheapest median average, coming in at just $633 per square foot, less than half the city’s median of $1,389 per square foot. Soho, on the other hand, with its 18 availabilities, has the city’s most expensive studios with a median price per square foot of $2,025. Keep in mind, however, that many downtown studios are “studios” in name only. For instance, the most expensive such unit in the city right now is a $6.75 million penthouse loft at 37 Greene Street, encompassing 3,200 square feet of raw space and a 2,400-square-foot rooftop terrace–likely not what that minimalist, low carbon footprint-seeking buyer has in mind. So, below is a list of the five best individual studio deals on the market right now, and a map showing the studios priced farthest below their neighborhood median averages.
Studio Condominiums Priced Furthest Below Their Neighborhood Medians
Median Studio Condo Prices in Manhattan and Northern Brooklyn
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Midtown West
Neighborhood median for a studio condominium: $1,632 per square foot
The Parc Vendome, 353 West 56th Street, #3K: 33 percent below the neighborhood median
585 square feet – $640,000/$1,094 per square foot
Located in a pre-war condominium, this studio is in close proximity to Central Park, Whole Foods, Carnegie Hall, Lincoln Center, and the Theater District. Building amenities include a beautiful garden, two roof decks, billiards, a piano room, and banquet rooms. Common charges include gas and electricity. See the full listing >>
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Battery Park City
Neighborhood median for a studio condominium: $1,127 per square foot
The Cove Club, 2 South End Avenue, #8W: 20.5 percent below the neighborhood median
564 square feet – $505,000/$895 per square foot
This eighth-floor, double-alcove condo has spectacular views of the harbor. It has a flexible floor plan with a spacious living room. One alcove can fit a king-size bed, while the other can be used as a dining area or home office. Amenities in the nine-story building include 24/7 concierge and doorman, a fitness center, WiFi lounge, laundry, and a large sun deck. See the full listing >>
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Chelsea
Neighborhood median for a studio condominium: $1,912 per square foot
Louis Philippe Condo, 312 West 23rd Street, #3R: 20 percent below the neighborhood median
340 square feet – $520,000/$1,529 per square foot
This newly renovated condo is listed as the perfect “first apartment, pied-a-tierre, or investment property.” It gets lots of light from its south-facing location and offers a spacious living area that’ll fit a queen-size bed, dresser, and living room set. A perk is the separate kitchen with room for a small table. The quiet, elevator building has a laundry room and live-in super. See the full listing >>
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Soho
Neighborhood median for a studio condominium: $2,047 per square foot
Trump Soho, 246 Spring Street, #2812: 19 percent below the neighborhood median
540 square feet – $895,000/$1,654 per square foot
This hotel condo allows owners to occupy their unit for up to 120 days annually and 29 days in any 36-day period. When not occupied by owners, there’s an on-site rental program that allows for nightly deals. The unit comes fully furnished, and within the building are Kio Soho, The Spa at Trump, a library, meeting rooms, valet parking, 24-hour in-room dining, and the indoor-outdoor Bar D’Eau. See the full listing >>
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Williamsburg
Neighborhood median for a studio condominium: $1,227 per square foot
180 South 4th Street, #1S: 18.5 percent below the neighborhood median
2,200 square feet – $2,200,000/$999 per square foot
The building may not be the most glamorous, but this four-room studio is definitely more luxurious than most. The kitchen has a huge center island with sink and room for several stools, as well as an industrial stove with a range hood and double oven. Though the listing doesn’t specify, it also appears to have a sauna, an extremely rare feature in New York. The exposed brick is also a nice touch, and there’s an in-unit washer/dryer. See the full listing >>
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Midtown East
Neighborhood median for a studio condominium: $1,480 per square foot
The Lex 54 Condominium, 135 East 54th Street, #4F: 18.5 percent below the neighborhood median
435 square feet – $525,000/$1,207 per square foot
This lovely studio is very bright and airy and even has a foyer. Plus, there’s an entirely separate dressing area off the closet. The full-service building offers 24-hour security guards and doorman, a laundry room, and an elevator. See the full listing >>
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