MANHATTAN — Summer is considered a slow time for the city's real estate market, which means it's a good time to get a deal. Those who list their homes this time of year tend to want to sell quickly, which is why they may offer what these three properties have: incentives, price cuts or prices that aren't outrageous to begin with.
Photo courtesy of Corcoran Group
431 W. 54th St., Apt. 4C, Hell’s Kitchen
One bedroom/One bath
Approximately 750 square feet
Co-op
$449,000
Maintenance: $980 a month
Open House: Sunday, July 24, 11:30 a.m. to 1:15 p.m.
Lowdown: In the second quarter of 2016, the median price of a one-bedroom in Manhattan was $849,000 and for a studio it was $544,000, according to Corcoran, which puts this new-to-market one-bedroom on the more “affordable” spectrum.
Though relatively small — with a kitchen fit for frequent Seamless user — the unit has a big charm factor: beamed ceilings stretching 10-feet high, exposed brick, a decorative fireplace and a large built-in bookcase in the living room. Each room has a window, making it feel more expansive, and there’s through-the-wall air conditioning.
“It’s a really nice apartment at a non-insane price,” said Corcoran’s Alex Mahgoub.
The apartment is three flights up and faces the back, which means, "You don’t have a killer view,” Mahgoub said. “But you are getting light, and it’s quiet.”
The building is a no-frills pre-war walk-up, but there's laundry and storage in the basement.
The co-op, which is a pet-friendly, non-smoking building, allows co-purchasing, pied-a-terres and subletting on a case-by-case basis.
Location: Sitting between Ninth and 10th avenues, it’s close to Hudson River Park, the Time Warner Center's shops and the transit hub at 59th Street/Columbus Circle.
Bars and eateries abound on Ninth Avenue. Lincoln Center and John Jay College is also nearby.
Why put it on your open house calendar? "It can work for a lot of people — one person or two people who aren’t millionaires," Mahgoub said.
Photo courtesy of CORE
11 E. 36th St., Apt. 606, Midtown East
1 bedroom/2 bath
Approximately 1,130 square feet
Condo
$1.395 million
Common charges: $1,257 a month
Taxes: $1,144 a month
Open House: Sunday, July 24, noon to 1 p.m.
Lowdown: After a recent deal on this pre-war loft fell through, it’s back on the market with an incentive for a speedy sale: The seller will pay a year of the common charges for an offer accepted by Aug. 31.
Though legally a one-bedroom, the office is currently set up as a second bedroom. It has no window, but it does have a closet.
“The fact you can get a two-bedroom Downtown for under $1.5 million, I think is such a deal,” said Alyssa Soto Brody, CORE.
Plus, she added, the space has no load-bearing walls so it's flexible.
“You can literally, if you wanted to, open up the entire apartment,” she said, “or if you wanted to create a dining room or third bedroom, you could do that. It allows you to grow into the unit.”
This sixth-floor apartment sits in the back of the 66-unit building and has no neighbors on either side, so it’s quiet, Brody said. Though it’s north-facing, the 6-foot-tall windows let in plenty of light.
When this office building went condo about a decade ago, renowned interior designer Andres Escobar overhauled the spaces, including the kitchens and baths, which still feel very modern. (Plus there’s central air conditioning and a vented washer-dryer.)
“His style is timeless,” said Brody noting that the open kitchen has high-end appliances and Calacatta marble countertops.
The doorman building has an “amazing” rooftop with a gym on it, Brody said.
Location: The Morgan Lofts, between Madison and Fifth avenues, are a block from the Morgan Library. The building is an easy to walk to Bryant Park, Midtown and Murray Hill.
There are plenty of transit options in the area, like the 6 train at 33rd Street, the hub at Herald Square or Grand Central Terminal.
Why put it on your open house calendar? “You are really getting a two-bedroom, two-bath for such an amazing value,” Brody said.
399 Fenimore St., Prospect-Lefferts Gardens
Five bedroom/Three-and-a-half bath
Townhouse
$1.349 million
Taxes: $272 a month
Open House: Sunday, July 24, noon to 1:30 p.m.
Lowdown: The price of this gut-renovated semi-detached single-family home dropped this week by $50,000. That’s on top of a $51,000 price cut from May.
The townhouse mixes modern touches, like a gas fireplace and stainless steel appliances, with traditional details, like a princess staircase and inlaid hardwood floors, according to Corcoran’s Brooke Safford.
“Everything is brand-new and well-done and rock-solid,” Safford said. “But it still has a warm, cozy feeling.”
It has "almost" four floors. There’s a finished basement and a finished attic (at full ceiling height) with two bedrooms.
The main floor has a sprawling living room and elegantly appointed gray-and-white kitchen with Carrera counters. Upstairs there are three bedrooms.
There are two full baths and two half baths.
“It feels like a real home, which is special in New York City,” she said. “It has a lot of space and a lot of privacy.”
When compared with a condo, the price per square foot is a deal, Safford noted. “And you don’t have high taxes and maintenance."
But you do have a porch and backyard.
Location: The house, on a quiet tree-lined residential block, is a short walk to the 2 and 5 trains at Winthrop. There are new cafes and shops popping up nearby, like Midwood Flats and Bluebird Food & Spirits.
Why put in on your open house calendar? “Value and privacy are the two biggest selling points,” Safford said.