The best NYC apartments for sale under $500K

August 27, 2020

Like New York City, the real estate market is slowly starting to recover, with hundreds of new apartment listings posted each day. With some industry experts calling it a buyer’s market due to an increase in inventory citywide, we’re taking a look at some of the best deals for apartments on the market that are listed for under $500,000. From a spacious two-bedroom with a balcony and an outdoor pool in Riverdale to a charming studio with unique architectural details in Prospect Heights, find out what $500,000 can get you in NYC right now.

Photos: Jenn Wheeler for Red Jack Team, Compass

2 South End Avenue 6V
Battery Park City
A newly renovated one-bedroom condo in Battery Park City is for sale, asking $499,000. In addition to its Hudson River views and brand new quartz countertops and marble bath upgrades, the perks of the spacious apartment at 2 South End Avenue include the amenities offered by the Cove Club building. Residents can enjoy a 24-hour doorman, gym and health club, party room, billiards room, central laundry, and access to a large roof deck.

[Listing details: 2 South End Avenue, 6V at CityRealty]
[At Compass by David Christopher Salvatore and Anna Khait]

Photos by Kate Norberg

790 Riverside Drive, 8T
Washington Heights
Uptown, a pre-war gem in the heart of Washington Heights’ Audubon Historic District has hit the market. Asking $486,600, the one-bedroom, one-bathroom co-op apartment boasts enviable design elements like 10-foot-tall ceilings, hardwood floors, and charming millwork. Modern upgrades have been made, including sleek white cabinetry and stainless steel appliances. The apartment building, The Riveria, rises 13 stories and contains 199 apartments. Amenities include a 24-hour doorman, live-in super, laundry room, and bike storage. Located between West 156th and 157th Streets, the Riveria is steps from the pedestrian-friendly Hudson River Greenway.

[Listing details: 790 Riverside Drive, 8T at CityRealty]
[At Compass by Thomas Hollingsworth]

Photos by Allyson Lubow, courtesy of The Corcoran Group

675 Vanderbilt Avenue, Apt D
Prospect Heights
What this cute studio in Prospect Heights lacks in size it makes up for in unique architectural elements like tin ceilings and exposed brick. Listed for $450,000, the co-up at 675 Vanderbilt stands out from typical studio apartments by having two distinct rooms, providing those still working from home the necessary space. And on that note, the studio is set up with the perfect home office nook, currently with shelving and a desk to complete the look. Other upsides of this pad include free laundry in the basement, bike storage, and shared outdoor space. Prospect Park, Brooklyn Public Library, the Botanic Garden, and the Brooklyn Museum are all within walking distance from the building.

[Listing details: 675 Vanderbilt Avenue, #D at CityRealty]
[At The Corcoran Group by Dawn Silverstein and Judy Liebman]

Photos courtesy of Halstead

5700 Arlington Avenue, 15H
North Riverdale
For the best value, check out this two-bedroom in the northernmost neighborhood in the Bronx, North Riverdale. On the market for $399,000, this apartment is located within condo complex Skyline Riverdale, which sits on over 20 acres and features an outdoor pool, sauna, gym, and basketball and tennis courts. The available home features lots of storage, a dining area, a spacious living room, and a balcony with endless views. The surrounding area is walking-friendly with many shops and restaurants nearby, as well as the Riverdale Metro-North station about a ten-minute walk away.

[Listing details: 5700 Arlington Avenue, 15H at CityRealty]
[At Halstead by David Bibian and Sandhya ‘Sanjya’ Tidke]

Photos courtesy of CORE

3692 Broadway, #23
Hamilton Heights
Constructed in 1926, 3692 Broadway is an HDFC building, which means the units are income-restricted and typically listed below market-rate. Located in the historic Hamilton Heights/ Sugar Hill neighborhood, the building has a one-bedroom, one-bathroom co-op for sale, asking $340,000. The renovated apartment boasts an open floor plan, stunning hardwood floors, decorative crown molding, and an extra room for a small office or additional storage.

[Listing details: 3692 Broadway, #23 at CityRealty]
[At CORE by Patrick Lilly and Jasmin Abrol]

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More: Distinctive Homes

Tags: 2 South End Avenue, 3692 Broadway, 5700 Arlington Avenue, 675 Vanderbilt Avenue, 790 Riverside Drive

Location: Battery Park City, Prospect Heights, Riverdale, Upper Manhattan

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All information furnished regarding property for sale, rental or financing is from sources deemed reliable, but no warranty or representation is made as to the accuracy thereof and same is submitted subject to errors, omissions, change of price, rental or other conditions, prior sale, lease or financing or withdrawal without notice. All dimensions are approximate. For exact dimensions, you must hire your own architect or engineer and for no listing shall the number of bedrooms listed be considered a legal conclusion.

MAPS: Where to Find the Best Studio Bargains in NYC Right Now

By Ondel Hylton

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.
See it all here