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.
Photos: Jenn Wheeler for Red Jack Team, Compass
2 South End Avenue 6V
Battery Park City
A newly renovated one-bedroom condo in Battery Park City is for sale, asking $499,000. In addition to its Hudson River views and brand new quartz countertops and marble bath upgrades, the perks of the spacious apartment at 2 South End Avenue include the amenities offered by the Cove Club building. Residents can enjoy a 24-hour doorman, gym and health club, party room, billiards room, central laundry, and access to a large roof deck.
Photos by Kate Norberg
790 Riverside Drive, 8T
Uptown, a pre-war gem in the heart of Washington Heights’ Audubon Historic District has hit the market. Asking $486,600, the one-bedroom, one-bathroom co-op apartment boasts enviable design elements like 10-foot-tall ceilings, hardwood floors, and charming millwork. Modern upgrades have been made, including sleek white cabinetry and stainless steel appliances. The apartment building, The Riveria, rises 13 stories and contains 199 apartments. Amenities include a 24-hour doorman, live-in super, laundry room, and bike storage. Located between West 156th and 157th Streets, the Riveria is steps from the pedestrian-friendly Hudson River Greenway.
Photos by Allyson Lubow, courtesy of The Corcoran Group
675 Vanderbilt Avenue, Apt D
What this cute studio in Prospect Heights lacks in size it makes up for in unique architectural elements like tin ceilings and exposed brick. Listed for $450,000, the co-up at 675 Vanderbilt stands out from typical studio apartments by having two distinct rooms, providing those still working from home the necessary space. And on that note, the studio is set up with the perfect home office nook, currently with shelving and a desk to complete the look. Other upsides of this pad include free laundry in the basement, bike storage, and shared outdoor space. Prospect Park, Brooklyn Public Library, the Botanic Garden, and the Brooklyn Museum are all within walking distance from the building.
Photos courtesy of Halstead
5700 Arlington Avenue, 15H
For the best value, check out this two-bedroom in the northernmost neighborhood in the Bronx, North Riverdale. On the market for $399,000, this apartment is located within condo complex Skyline Riverdale, which sits on over 20 acres and features an outdoor pool, sauna, gym, and basketball and tennis courts. The available home features lots of storage, a dining area, a spacious living room, and a balcony with endless views. The surrounding area is walking-friendly with many shops and restaurants nearby, as well as the Riverdale Metro-North station about a ten-minute walk away.
Photos courtesy of CORE
3692 Broadway, #23
Constructed in 1926, 3692 Broadway is an HDFC building, which means the units are income-restricted and typically listed below market-rate. Located in the historic Hamilton Heights/ Sugar Hill neighborhood, the building has a one-bedroom, one-bathroom co-op for sale, asking $340,000. The renovated apartment boasts an open floor plan, stunning hardwood floors, decorative crown molding, and an extra room for a small office or additional storage.