Three of the Best for 500K - New York City

Three of the Best for 500K - New York City

Welcome to Three of the Best, a new feature I will be running where I profile 3 of what I consider to be the best properties at a certain price point in a certain area. This post will feature three of the best apartments in New York City for around USD 500K. Sounds like a decent budget, right? Lol, NOPE. And no one from Sydney is allowed to be smug, our prices are at a similar, ridiculous level. 

My main criteria for inclusion is that it is a place I would be happy to live in. And for this 500K one, I'm limiting it to properties with monthly holding costs of under $1000. Because if you've just scraped together 500K for an apartment, the last thing you need is to be paying mega holding costs every damn month. 

(the property addresses are linked to the property listings)

It. Is. Tiny. But lovely and very well located. Monthlies are just over $800 which isn't bad for a pre-war with a live in super and an elevator. I think the current occupant has done a good job of making the space work. Oh, this place is pet friendly and allows sublets. 

OK look, I'm not great with budgets but in my defence, the monthly costs on this (apartment 1503) are only $571 so while the upfront costs may be more, the ongoing costs are way less than average. To be honest, I'm quite surprised at this as this building has everything; a full time doorman, a concierge, a valet, on-site dry cleaners and soon there will be a gym. This building does require a minimum deposit of 25% though. 

This is technically a studio however it's really almost a one bedroom. I have no doubt the picture of the living area has been lightened somewhat and that the apartment might be a bit dark but it's certainly priced accordingly even if you'll have to put aside some $ to sort out that paint. Although maybe that paint's not so bad in person but it definitely doesn't photograph well. If I was looking to buy in NYC at this price point, this would certainly be in the running, especially with the 2nd Avenue subway line due to open.

The listing calls this a one bedroom apartment and technically it is but it is tiny. But it's quite beautiful and they've done a good job with the very, very limited space. Monthlies are only $863 making this a good buy in a great area. OK sure, if you're fond of cooking this may not be the place for you but personally I think there's enough here to make up for the compromised kitchen. 


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