Housing has become increasingly unaffordable, especially in major cities with high demand and limited supply. In fact, according to our data, New York ranks the second least affordable market in the nation, just after Miami.
However, just because we keep seeing those million-dollar listings and hearing about record-breaking sales doesn’t mean that gems don’t exist. Even though the median asking price in NYC currently sits at over $970,000, you can still find a home for half that amount. In this March installment of NYC Homes for sale, we’ll take you on tour and check out five gorgeous properties that are currently selling for less than $500,000.
Just listed, this spacious co-op with three bedrooms and two bathrooms also has a large foyer that can be used as a library or seating area. The unit comes with a formal dining room that is big enough to seat up to 12 people for dinner, perfect for those who love to entertain. The renovated kitchen features stainless steel appliances, crisp white cabinets, and granite countertops. You’ll find a customized walk-in closet and an en-suite bathroom in the primary bedroom suite. The building overlooks Franz Sigel Park with great views and access to shopping and transportation. For those looking for investment opportunities, #3CN can potentially generate $2,800 a month.
35-15 84th Street is a prewar building in the center of the Jackson Heights Historic District. The building has amazing amenities such as a peaceful interior garden, fishpond, storage, and bike room. Unit 61 is a bright one-bedroom apartment on the top floor with breathtaking garden views. The unit has been completely renovated with a modern kitchen with European cabinets, quartz countertops, subway tile backsplash, and gray slate floors. The bathroom is equally stunning with marble basketweave flooring, marble tiling, and a separate bathtub and shower. The electrical, plumbing, and lighting have all been recently updated, so there is nothing to do but move in.
Prospect Lefferts Gardens
This stunning condo is located just three blocks from Prospect Park and close to coffee shops, restaurants, entertainment options, as well as the 2 and 5 subway trains. Its features include expansive 10-foot ceilings, an 85 sqft private front-garden enclosure, French oak wood floors, and recessed lighting. Both the kitchen and bathroom on the upper level have been updated. The kitchen’s stainless-steel appliances and built-in paneled dishwasher add to the modern feel of the space. A floating staircase leads to a lower level with another bathroom. Don’t miss out on this beauty if having some private outdoor space is your priority.
Located a few blocks from Union Square, the pet-friendly 226 East 12th Street offers excellent amenities, including two elevators, a new laundry room, and bike storage. #5F features a classic white bathroom has been updated with new fixtures and a full-sized tub. The kitchen includes a new stainless-steel stove, dishwasher, microwave, custom cabinets, and refrigerator. The bedroom is large enough for a queen-sized bed and comes with ample closet space. Best of all? The building is open to gifting, co-purchases, pieds-a-terre, and subletting. You could potentially make $3,000 a month in rental income by subletting this unit.
Canterbury Mews is a charming two-building co-op on the Upper East Side with a garden courtyard in between the buildings. Close to Central Park, dining, shopping, and transportation, this co-op is in a prime location. Unit #G is on the top, back floor of the building. This sunny one-bedroom apartment is bright and airy but retains original features such as the brick wall in the living room. The renovated kitchen has a Viking range and granite countertops, along with subway tiles, making it modern yet timeless. The bathroom has also been recently renovated with contemporary fixtures.
Interested in starting your NYC home search? Check out RealtyHop’s latest NYC Price Drop Report to learn more about price movements in every neighborhood.