If you're looking to live on the Upper West Side, and don't mind a rather tiny space, you may have a hard time finding a better deal than this $285,000 studio in an elevator building on West 87th Street, between Broadway and Amsterdam.
Assuming you put 20 percent down (that's $57,000), and take out a 30-year mortgage, you're looking at around $1,775 in monthly expenses. And considering that the median rent for a studio in the neighborhood is $2,400, that's something of a steal.
The apartment has a sleeping loft, but it appears as though the current owner is using it for storage rather than to sleep. We'd be inclined to do the same.
Of course, that means sleeping rather close to the kitchen, but with so many great restaurants around how often will you be cooking, anyway? And maybe see that as inspiration to get organized (and maybe even do a little renovating of that dated kitchen).
Note: The five-story building has laundry facilities and is pet-friendly. Investors are not allowed, so if you're thinking of buying it, prepare to live in it, too.