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Most Affordable Morningside Heights Apartments Located Near 1 Train Stop

By Emily Frost | December 2, 2016 7:23am | Updated on December 5, 2016 8:39am

MORNINGSIDE HEIGHTS — Some of the best deals for homebuyers in the neighborhood are congregated around the 125th Street 1 train stop, real estate statistics show. 

The analytics site NeighborhoodX combed through November listings for market-rate properties in Morningside Heights to find the top 10 most affordable properties that had at least one bedroom.

The 10 properties range in price from $375,000 to $849,900, have between 500 and 1,250 square feet, and between one and three bedrooms.

Two-bedroom apartments on the list start at $475,000, and three-bedrooms start at $760,000. 

Nine out of 10 of these apartments are located between West 123rd and 125th streets from Amsterdam to Claremont avenues, within two blocks of the West 125th Street 1 train stop.

Typically, proximity to transit increases real estate prices. But while the West 125th Street station is just a few local stops away from an express stop, the station is elevated and noisy, likely driving prices down, said NeighborhoodX co-founder Constantine Valhouli.

"The street noise was kind of obnoxious for the nearby blocks," said Valhouli, who himself used to live near the station. 

The average price per square foot is $700, well above that of neighborhoods to the north, such as Inwood, where the average price per square foot for the 10 most affordable properties this summer was $536.

The most affordable one-bedroom in Inwood starts at $279,00, Valhouli noted.

To the south, between West 110th and 123rd streets, Morningside Heights has been undergoing a development boom, with new residential towers rising in the face of opposition from community members who have said that high-rises are out of context with the area. 

At Circa Central Park, a new development on West 110th Street and Frederick Douglass Boulevard, one-bedroom apartments started at more than $1 million.

Sales at One Morngingside Park, located a block west of Circa, went for more than $1,750 per square foot, a rep from the developer Artimus Construction said.

Moving south, while you won't get the same value as with Morningside Heights properties, there's more inventory on the Upper West Side, Valhouli added.

The 10 most affordable properties on the Upper West Side range from $439,000 to $550,000, he said. 

Find out more about the most affordable neighborhoods for first-time homebuyers.