Like New York City, the real estate market is slowly starting to recover, with hundreds of new apartment listings posted each day. With some industry experts calling it a buyer’s market due to an increase in inventory citywide, we’re taking a look at some of the best deals for apartments on the market that are listed for under $500,000. From a spacious two-bedroom with a balcony and an outdoor pool in Riverdale to a charming studio with unique architectural details in Prospect Heights, find out what $500,000 can get you in NYC right now.
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Leave it up to Riverdale to supply some of the most jaw-dropping, “is it really in New York City?” properties. This Greek Revival mansion at 5501 Palisade Avenue looks like it belongs upstate, but it’s located right here in the Bronx, in a neighborhood known for impressive properties with views. The 1.7-acre property is situated on the top of the hill, so it has prime views of the Hudson River and the Palisades. The interior, which boasts five bedrooms, isn’t too shabby, either.
Images courtesy of The Corcoran Group.
The spacious, laid-back architect-designed modern home at 5253 Arlington Avenue in the Hudson Hill section of Riverdale near Wave Hill was built in 1940 on one of the neighborhood’s deepest plots (79 feet by 323 feet). The cedar-clad four-bedroom home, asking $2.599 million, is surrounded by private flagstone patios, rolling lawns, and lush plantings. The residence has been well-maintained and tastefully updated over time, but there’s potential and space for significant expansion if you’re looking for even more room.
A stately English Tudor mansion in the historic Fieldston neighborhood of Riverdale, considered one of the city’s best preserved early 20th century suburbs, has just hit the market for $3.5 million, and it’s oozing history filled ghosts, science fiction, New York master politicians, and urban planners. Former Mayor Fiorello LaGuardia moved to 5020 Goodridge Avenue after serving three consecutive terms as mayor and living in Gracie Mansion. He lived a quiet life after politics but is said to have hosted people like Robert Moses in his house. The home was originally built for magazine illustrator Arthur I. Keller. LaGuardia died in the house in 1947.
While this housing lottery won’t save you a ton on rent, the four middle-income units available do sit in a prime location– near the beautiful and historic Van Cortlandt Park. According to the city’s parks department, the park is home to the country’s first public golf course, the oldest house in the borough and the largest freshwater lake in the Bronx. Located at the nexus of the Bronx neighborhoods of Riverdale and Kingsbridge Heights, the building at 3190 Riverdale Avenue offers residents a parking garage and bike storage. Qualifying New Yorkers earning 120 percent of the area median income can apply for the four $2,425/month two-bedrooms.
If you’re looking for a bit of the suburban lifestyle without leaving the boroughs, this affordable housing lottery in the Bronx may be for you. Fifteen apartments at Stagg Group’s Riverdale project The Station (so named for being adjacent to the 1 train station) at 5959 Broadway are up for grabs for New Yorkers earning 80 percent of the area median income. These include 12 $1,292/month one-bedrooms and three $1,458/month two-bedrooms. Just as good as the price is the location; the mixed-use building is directly across from the southeast entrance to Van Cortlandt Park, right near the swimming pool and Van Cortlandt House Museum. And for families, it’s also just a couple blocks from the prestigious Horace Mann School and Manhattan College.
Atop the city’s second-highest peak, in Riverdale, the Bronx, this opulent mansion has been beckoning the heavens–and seeking a buyer–since 2009 when it hit the market with an ask of $14 million; As 6sqft previously reported, the 17-room 1home was built in 1928 for an eccentric owner who never actually lived there herself, but rather constructed it for Jesus’ second coming. The house was asking $11 million in 2013 and re-listed with a $10 million price tag in 2015. Welcome2TheBronx reports that the home finally sold for $6,250,000 on January 9th of this year.
The historic mansions of Riverdale never fail to impress, and this gem is no exception. Built in 1899 and known as the Esmeralda, the home has maintained many of its historic details over the years. Throughout formal dining and living areas, as well as all nine bedrooms, you’ll find finishes like hardwood flooring, oak doors, wood-beamed ceilings and fireplaces. The property also comes with an impressive degree of privacy, as you enter through a long, gated driveway. For this level of exclusivity and historic charm, the price tag is $4.129 million.
1924 cliffside Riverdale castle-cottage has magical river views, a Broadway pedigree and a $2.6M ask, Fri, February 17, 2017
In case you need another reason to love New York City, this singular gem of a seven-unit apartment building perched on a wild cliff overlooking the Palisades where the Harlem River meets the mighty Hudson just hit the market. Built in 1924 as a co-operative by a super-literary lawyer/developer who also happened to be the first editor-in-chief of the Harvard Law Review, the Villa Rosa Bonheur at 2395 Palisade Avenue in Riverdale, the Bronx, is one of three; her sister buildings go by Villa Charlotte Brontë and Villa Victoria. Their creator, John J. McKelvey, was looking beyond the bottom line when he built what would be the first apartment buildings in the Bronx. Ms. Rosa is now on the market for a mere $2.595 million. There’s more: Her current owners are the family of the late “Beatlemania” creator Robert Rabinowitz.
While the Bronx has been busting at the seams with affordable housing lotteries, most of them have been clustered in the southern areas of the borough. The latest, however, takes us up to the historic Fieldston neighborhood of Riverdale, considered one of the city’s best preserved early 20th century suburbs. These nine available units, $1,230/month one-bedrooms and $1,403/month two-bedrooms, may not be located in one of the area’s signature revival style homes, but they are in a brand new building at 6155 Broadway, right on Van Cortlandt Park and steps away from the prestigious Horace Mann school.