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.
790 Riverside Drive
This one-bedroom apartment, now on the market for $575,000, comes from the historic co-op building the Riviera, located at 790 Riverside Drive in Washington Heights. CityRealty’s architecture critic Carter Horsley offers a good review of the architecture: “This very distinguished, five-sided, building has a most unusual floor plan with five deep light wells. It was designed by Rouse and Goldstone and erected in 1910 by the Riveria Realty Company in an Italian Renaissance-palazzo style. The 13-story building has a three-story, rusticated limestone base, limestone quoins, and arched windows at its top floor beneath a quite distinctive cornice of multiple arches. There are several very handsome decorative balconies and the building has spacious lobbies.”
The luxury apartments, which originally came with as many as 10 rooms, were designed with libraries, butlers’ pantries and parquet flooring. Many of the units–like this one–have been chopped up and made smaller, but this apartment retains the historic cast-iron balconies.