Take It Or Leave It

Take It or Leave It: Should this glorified Kips Bay studio fetch $2,600/month?

By Leah Hochbaum Rosner  | February 26, 2014 - 8:59AM

It’s been nearly 100 days since it hit the market (yikes!), and this $2,600/month Kips Bay 1-bedroom/1-bathroom walk-up has yet to find a lucky (or unlucky) tenant. To what do real estate veterans attribute the holdup? Our panel of expert renters—including RentHackr founder Zeb Dropkin, freelance writer Lambeth Hochwald, and BrickUnderground’s own senior contributing editor, Lucy Cohen Blatter—decide whether to Take It or Leave It.

The Apartment:

Size: 1 bedroom, 1 bathroom                                                
Location: 493 Second Ave. between E. 27th and E. 28th Sts. in Kips Bay
Cost: $2,600/month
Flexible Layout: No
Days on the market: 95 days
Subway: 6 at 28th St.; Ferry at E. 34th St. Ferry Landing; N, R at 23rd St.; L at 3rd Ave.; F, M at 23rd St.

Pros and cons:

Zeb: “This spot boasts nice wood floors, exposed brick, and in-unit laundry. But it’s on the skinny side, with the kitchen overflowing into the living room.” 

Lambeth: “If Kips Bay’s your thing, this tidy railroad 1-bedroom might be worth a look. It’s just one flight up and exudes charm and convenience--props for the exposed brick, and a stacked washer/dryer is a dream come true. I worry most that the bedroom fronts the always noisy Second Ave. and it looks like the apartment opens right into the kitchen, which can be awkward.”

Lucy: “I like the brick walls, the well-maintained wooden floors, the gray tiles in the kitchen and the pretty wall tiles in the bathroom. The overall result is a cozy/warm/modern-looking apartment. Plus, there’s a washer-dryer and the appliances look brand new. On the con side, the apartment looks small, almost like a studio with a temporary wall added in to make it a 1-bedroom.”

Who would this apartment be perfect for?

Zeb: “A renter on a tight budget looking for a starter 1-bedroom with an above average kitchen and appliances.” 

Lambeth: “A med student or resident from the nearby NYU School of Medicine seeking a cute crash pad.”

Lucy: “A single person or young couple that doesn’t mind being in close quarters, and is looking to take advantage of the nightlife-heavy neighborhood.”

The verdict(s):

LEAVE IT “This place has some perks like that washer/dryer, but there isn’t a lot of elbow room. For $2,600/month, you can do better. ”—Zeb

LEAVE IT “At that price, seek out something on a side street instead.”Lambeth

LEAVE IT “The apartment seems pretty standard, and I suspect you could find something comparable for a similar price in a less fraternity-heavy neighborhood. And even though it’s only one flight up, it still is a walk-up.” 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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