There’s a reason New York is a town of renters. Sky-high sale prices make it difficult to break into the market, but if you are looking to invest in local real estate, what can you get for a lower amount?
In NYC, especially its most coveted neighborhoods, that means $500,000 or under. Here are five Manhattan apartments that fit the bill:
Location makes this Upper East Side studio a good deal. Only two blocks from the express subway and Whole Foods, this walk-up features hardwood floors and exposed brick. The sunny studio also promises a full kitchen with stainless appliances and dishwasher, and a renovated bathroom.
This Midtown West studio is advertised as the perfect starter home. Located in a full-time doorman, elevator building, potential owners face a flexible co-op board that allows guarantors, co-purchasing, subletting after a year of ownership, and pets.
For more space for less, try this Inwood prewar co-op. Apartment details include a sunken living room, entry foyer and windows in every room. The massive bedroom also features refinished original oak strip flooring and a built-in bookcase.
Though this Chelsea home may just be a studio, it’s in a doorman building on a prime block. There are hardwood floors, and a windowed kitchen and bath. The building also offers a finished roof deck and laundry room, and is pet-friendly.
This move-in-ready studio promises plenty of space with a separate kitchen and ample storage - including two closets and a walk-in foyer closet. The unit is inside a post-war co-op with full-service amenities from a 24-hour doorman, to a gym and a recently redone roof deck.