Small Wonder

This Murray Hill studio has a cozy sleeping alcove—and a rooftop made for summertime entertaining

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The idea of a Murray Hill starter apartment often conjures up images of a cramped roommate share between a bunch of post-grad renters. But for first-time buyers in the neighborhood, this alcove studio at 50 Park Avenue may be the ideal way to get a foothold in the neighborhood's real estate scene.

The layout's a little unusual: The sleeping area is located in an alcove just to the side of the front door (it could be nicely separated from the rest of the space with a screen or curtain), and the listing notes that it has "closet/storage space and a large dressing area/walk in closet," though those aren't visible in the photos. There also are no windows in this alcove, though that could be a plus if you're prone to sleeping in:

From there, the apartment opens up into a spacious living room with an open kitchen, which has been recently renovated to include granite countertops and stainless steel appliances, including the all-important dishwasher:

50 Park Avenue is a full service, pet-friendly co-op with elevators, laundry, storage, and a live-in super, and also includes a shared roof deck with pretty choice views of the midtown skyline. This in mind, the sellers are asking $599,000, and monthlies are listed as $952/month. That's a bit high for the neighborhood; StreetEasy tallies the average price of current studio listings in Murray Hill as around $495,000.

So what do you think—a fair price for that location and those amenities, or would you rather take your $600k and get a larger spread uptown or in the outer boroughs?