Take It Or Leave It

Take It or Leave It: A $2,550/month East Village one-bedroom...in a building that sometimes doubles as a hotel

By Leah Hochbaum Rosner  | January 15, 2014 - 11:07AM

This time around, our Take It or Leave It renters debate the merits of a recently renovated low-fee 1-bedroom in an East Village walk-up. Our panel—who have 43 years of collective rental experience between them—consists of RentHackr founder Zeb Dropkin, freelance writer Lambeth Hochwald, and BrickUnderground’s own senior editor, Lucy Cohen Blatter.

The Apartment:

Size: 1 bedroom, 1 bathroom
Location: 73 E. 3rd St. between First and Second Avenues in the East Village
Cost: $2,550/month+low broker’s fee
Flexible Layout: No
Days on the market: 42
Subway: F at 2nd Ave.; 6 at Bleecker St.; B, D, F, M at Broadway-Lafayette St.; N, R at 8th St.; J, Z at Bowery; F, J, M, Z at Delancey St.-Essex St.

Pros and Cons:

Zeb: “With exposed brick walls, high-ish ceilings and a prime East Village location, this place definitely seems like a real find. But in my humble opinion, this is a studio masquerading as a 1-bedroom. It looks like they just added a wall with French doors to create another room. The rent shouldn’t be above $2,200.” 

Lambeth: “Calling this walk-up apartment a 1-bedroom is a bit of a stretch. It’s so teensy that you could probably sit on your futon in the living room and make a pot of oatmeal on the stove without having to budge! Add to it the $2,550/month plus broker's fee, and the fact that it's steps away from the Hell’s Angels headquarters, and I’m thinking you could do better.”

Lucy: “This East Village apartment is charming--meaning small--but if you want to be in a busy, exciting neighborhood and don’t mind a tight space, it could be worth renting. The recent renovations look nice and closet space in the bedroom is decent. It also has a low broker fee and though it’s a walk-up, a live-in super and on-site laundry.”

Who would this apartment be perfect for?

Zeb: “It’s a great little spot for an East Village lover who doesn’t need a lot of space and will enjoy being in the heart of the action.”

Lambeth: “A single person who thrives in a minimalist space.”

Lucy: “A single person who wants the experience of living in the East Village, and doesn’t plan to entertain much.”

The Verdict(s):

TAKE IT “…as long as you’re OK with the price. This is East Village living at its most real—a tiny apartment in a great hood.” —Zeb

LEAVE IT “Research this building and you’ll quickly discover that it has been known to rent out some apartments as hotel rooms. Pass!”—Lambeth

LEAVE IT “You’ll likely grow out of that small space pretty soon.”—Lucy

Ready to rent? Check out our How to Rent Guide...and if the apartment you like requires a guarantor that you don’t have, see if the landlord accepts Insurent, a guarantor solution from one of BrickUnderground’s sponsors.

Take It Or Leave It is a weekly column in which a panel of long-time renters weighs in on the pros and cons of an apartment that’s currently on the market.

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