Combining all the affordability of a single-room apartment with the separation of space of a one-bedroom, the alcove studio is a pretty brilliant invention. Drop one of these places into an amenity-filled building, and you’ve got yourself a pretty nifty pad.
Take, for example, this co-op asking $339,000 in Murray Hill. A small closet-lined hallway makes for a gracious entry, rare for studios, which tend to capitalize on space but cut corners on grace. At 550 square feet, the apartment has an L-shaped layout that creates separate areas for sleeping, sitting/watching TV and eating. (Use a bookcase to act as a wall between the living and sleeping spaces and you've got yourself an ad hoc one-bedroom.) The bathroom is cute. The kitchen, though small, is totally efficient, with full-size appliances (including a dishwasher), lots of counter space and tall cabinets, all done up in a space-enhancing shade of white.
The apartment’s location on the second highest floor of a 20-story building delivers almost unobstructed skyline views and—bonus!—a glimpse of the East River. South-facing windows, including along the sleeping nook, make for light all day, and central AC is included in the maintenance. The full-service doorman building also offers a concierge, storage, a parking garage and a large, recently renovated roof deck. On the downside, it’s about half a block away from the entrance to the Midtown Tunnel, so the street is probably often traffic-filled.
Still, for the price—about $14,000 more than the $324,965 average price for studios that sold in Murray Hill in the last 90 days, according to StreetEasy—it’s a pretty sweet deal.