The Market

A Hell's Kitchen studio that almost qualifies as a one-bedroom? Yes, please

By Leigh Kamping-Carder | July 16, 2014 - 9:59AM 

Getting more than you pay for is such a rare occurrence in the search for a New York City apartment that we couldn’t help but notice this Hell’s Kitchen studio, which comes with an extra half room that makes the place seem a lot more functional than your average one-room abode.

Listed yesterday for $468,000, the third-floor walk-up co-op is legally a studio, and advertised as such. “The space delineated on the floor plan as ‘bedroom’ is an alcove/multi-purpose area,” explains listing broker John Milad of the Corcoran Group.

The floorplan shows a "bedroom," but it's legally just an alcove

At 7.5 feet wide, with a closet and a window, per the floor plan, the “bedroom” actually looks like a place you could stand to spend the night. And the apartment comes with other touches that make the space feel bigger: the Pullman kitchen has an island with a bench, separating the eating space from the living room; 10-foot ceilings, a wood-burning fireplace, exposed brick, wood floors and stainless steel appliances give the spot some class; and built-in shelving in the entryway and living room provide for plenty of vertical storage to keep the clutter to a minimum.

The living room has built-in shelves and big windows, which help make the place feel more spacious

The 500-square-foot apartment is priced slightly higher than other studio co-ops in Midtown West, which sold for an average of about $412,000 in the last 90 days, according to StreetEasy. Meanwhile, one-bedrooms in the area fetched an average of $548,000(The listings site does not provide pricing data for Hell’s Kitchen specifically.) In the same building, a duplex two-bedroom a floor higher sold in May. Though its final sale price is not public yet, its last asking price was $725,000, or $763 per square foot, versus $936 per square foot for this studio, according to StreetEasy

The apartment, at 305 West 55th Street at Eighth Avenue, is in a five-story pre-war brownstone with 19 other units. It’s also close to the shops and restaurants (and hordes of tourists) at Columbus Circle, as well as a slew of subway lines and Central Park. Pets are allowed with board approval, the listing says, and maintenance is $667 a month. 

The West 55th Street building has 20 units spread across just five stories

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