Owning a home in New York City is expensive, and we mean very, very expensive. According to our Housing Affordability Index, New York is the second least affordable housing market in the U.S.
With a median asking price reaching $1 million, it’s difficult for many prospective homebuyers to save up enough money for the down payment. However, that doesn’t mean you can’t find a home for under $1 million. This April, we’ll take you on tour and check out what you can buy with $900K.
With the asking price reduced just last month, this apartment on a beautiful tree-lined street on the Upper East Side is full of charm. The unique one-bedroom unit spans over 1,000 sqft and features high ceilings, spacious rooms, and a private garden, offering a respite from the city. The bedroom is stunning, with a decorative fireplace surrounded by built-in bookcases and three closets for plenty of storage. Double French doors in the bedroom lead out to the spacious 24’ by 15’ garden with lava stone walls. In addition, the kitchen and both bathrooms in this unit have been renovated. The apartment also includes a stackable washer and dryer for convenience.
This is a brand-new condominium in East Williamsburg that offers amazing views of the Manhattan skyline. With northern and western exposures and oversized windows, residents in this apartment can enjoy natural light throughout the day. The layout features nine-foot ceilings and soundproof windows, allowing a quiet and open space. The kitchen is sleekly designed with dark oak cabinets and a white subway tile backsplash. You can find premium appliances such as a Bosch dishwasher, Bosch stainless steel gas range, and a Fisher and Paykel smart refrigerator. The bathroom is equally modern with a sunken bathtub and contemporary vanity. As for building amenities, 738 Grand Street has a shared roof deck and BBQ station, elevator, and wellness room. For investors looking for income-producing properties, unit 2B has the potential to generate a profit of $38,800 a year, which translates to a competitive cap rate of 4.32%.
Recently listed, this pre-war apartment is located in the heart of the West Village and features high-end fixtures throughout. The updated kitchen features white Caesarstone countertops, custom walnut wood, white cabinetry, and sleek stainless-steel appliances. The attractive, updated bathroom boasts white Bianco Dolomiti tile flooring, white vanity, and an enclosed glass shower. For those with furry friends, 88 Charles Street welcomes dogs and cats and has on-site bike storage.
This spacious, beautiful two-bedroom, two-bathroom condo in Bushwick is something you don’t want to miss. The condo is set up for entertaining with Denon Wi-Fi, Bluetooth connectable speakers, and enough room in the combined living/dining area for a living room set and dining table. With custom cabinets providing plenty of storage, a Calacatta marble island, and a Bertazzoni 5 burner range, the kitchen has ample space for a homeowner that enjoys cooking. The main bedroom has a walk-in closet and an en-suite bathroom with radiant heated flooring. Building amenities include bike storage and access to a common roof deck, where you’ll be able to enjoy the beautiful city skylines.
If brick walls are a key requirement, check out this one-bedroom, one-bathroom co-op in Chelsea. This unit has only been on the market for two weeks and is located in the heart of Manhattan, being close to the Highline, Whitney, Chelsea Market, and Chelsea Piers. The large living room has a decorative brick fireplace and space for a home office. The modern and updated galley kitchen features stainless steel appliances and granite countertops. It even has room for a dining area. If you need to commute to work, the A/C/E and L trains are right around the corner. 1/2/3/F/M trains are also easily accessible within a few blocks.
Thinking of buying this spring before the interest rates go up more? Start your search now and check out NYC properties with the most price drops this April.