What you get for $1 million in the East Village, where an 'artistic spirit and neighborhood feel' are major draws

Have you always wanted to live in the East Village but assumed you were priced out? In this series, Brick looks at listings in New York City’s most in-demand neighborhoods for under $1 million—roughly the median sales price for Manhattan co-ops and condos—as well as higher-priced options below $2.5 million. 

If your goal is to live large, think small: Buying a studio or one bedroom is a way to net the nabe of your dreams. New to buying NYC real estate? Be sure to wrap your head around the difference between co-ops and condos. Co-ops are generally less expensive but also are older and have fewer bells and whistles than condos—plus more rules. With that in mind—happy hunting!

In this week’s Your Next Move, Sara Schwartz, an agent at Corcoran, and Adjina Dekidjiev, a broker at Coldwell Banker Warburg, give us the inside story on the East Village, Greenwich Village's hip sibling.

What draws buyers to the neighborhood?

Diverse and affordable, the East Village has retained its “artistic spirit and neighborhood feel, which buyers find appealing,” Dekidjiev says.

She notes that its walking-distance proximity to Noho, Union Square, Soho, and the Lower East Side, as well as its rich history, are other draws.

“You can walk by Allen Ginsberg’s or Basquiat’s old apartment buildings, and they still look pretty much the same,” Dekidjiev says. “Old faithfuls like the Russian & Turkish Baths are still on [the same block], as are Veniero’s for dessert, the always-packed Tompkins Square Bagels, and Veselka, the Ukrainian restaurant that’s just as popular as it was decades ago. And new restaurants like Pylos and Pardon My French are great additions.”

What are housing and pricing like?

The neighborhood has condos, co-ops, and historic townhouses that range in price from about $350,000 to tens of millions of dollars.

“It’s one of the few neighborhoods in Manhattan where you can still find affordable Housing Development Fund Corporation co-ops,” which have reduced taxes as well as income and resale restrictions, Dekidjiev says. “Unique spaces abound, with prewar charm and spacious layouts.”

What type of property can I get for under or around $1 million?

Schwartz notes several options for under $1 million, including a two-bedroom co-op penthouse in a walkup building for $900,000; a one-bedroom, one-bath co-op with a 900-square-foot private garden for $800,0000; a two-bedroom, one-bath co-op with views and a living green wall for $750,000; and a renovated studio condo on the border with views and a balcony for $875,000. 

StreetEasy shows 35 choices in this price range, including the listings below.

I can stretch my budget. What can I get for $2.5 million?

According to Schwartz, this price category opens the door to many possibilities. For example, there's a 1,600-square-foot two-bedroom, one-and-a-half-bath triplex penthouse co-op with private outdoor space that’s listed for $2.3 million; a two-bedroom, two-bath renovated penthouse condo that’s over 1,000 square feet and asking $2.3 million; and a 1,300-square-foot, three-bedroom, two-bath condo in a walkup building that’s on the market for $1.995 million.

Are there any newer condo developments I should check out?

Newer condos typically offer the most luxurious amenities and finishes, features that attract many buyers.

The 22-unit 75 First Ave., a cantilevered condo designed by Italian architect Stefano Pasqualetti, opened in 2022. Amenities include a roof deck, doorman, fitness center, bike room, and a lounge with a wet bar, a fireplace, a TV, and dining and seating areas. The least expensive unit, a one-bedroom, one-bath that’s 609 square feet, is listed for $1.29 million.

Which attractions do you show buyers who have never been to the area?

Schwartz likes to let clients stroll and explore the neighborhood. She points out the Tenement Museum, vintage clothing shops, and restaurants such as Sushi Kai, Yellow Rose (Tex-Mex), and Post (homemade buttermilk biscuits).

“I encourage clients to take a walk at night and have dinner and a drink,” she says, “so they can discover the beauty of New York and say, ‘We wandered into this block and really loved it; is anything for sale there?’”

After telling clients about the East Village’s history and architecture, Dekidjiev shows them “prewar walk-ups, some Greek Revival townhouses along Tompkins Square Park, and grand prewar buildings like The Christodora House.”

What are the nearby neighborhoods, and are they less expensive?

A comparable property in Greenwich Village, the West Village, or NoHo is “much more expensive than one in the East Village,” Schwartz says, “but the Lower East Side is still competitive on pricing, depending on the location of the property.”

Check out these listings that are around $1 million in the East Village.

425 East 13th St., #6P

Listed for $995,000, this loft-layout studio condo, which is 667 square feet, has a terrace, floor-to-ceiling windows, pocket doors, a chef’s kitchen, and washer/dryer. Amenities of the eight-story, 84-unit building, built in 2008, include a 24-hour doorman, concierge, rooftop pool with private cabanas, a barbecue grill area, fitness center, and courtyard garden.

240 East 10th St., #3D

This 1,100-square-foot condo has two bedrooms, two baths, a chef’s kitchen with stainless steel appliances,  a washer/dryer, and private storage unit. It is in the 16-story, 35-unit New Theatre Building that sits atop the historic theater and includes a roof deck, bike room, full-time super, and 24/7 doorman. It is listed for $1.45 million (in contract).

633 East 11th St., #21

This one-bedroom, one-bath co-op, listed for $675,000, is one of 24 units in a six-story walkup building that dates to 1898 and features a shared courtyard and bike room. The apartment has 10-foot-plus ceilings, exposed brick, custom woodwork, and a chef’s kitchen with a dishwasher. It is available furnished or unfurnished.

126 East 12th St., #6A

Located in a six-story, circa-1900 walk-up building with 24 units, this two-bedroom, one-bath co-op has hardwood floors, 10-foot ceilings, a chef’s kitchen with an island, and a washer/dryer. The asking price is $999,995.

533 East 12th St., #5A

This 955-square-foot condo, listed for $1.65 million, has two bedrooms, two baths, a balcony, oak flooring, and an open-layout chef’s kitchen with an enclosed washer/dryer. It is located in The Avant, an eight-story, 26-unit elevator building that opened in 2020 and features a part-time doorman, smart-video intercom system, fitness center, lounge, furnished rooftop deck, and bicycle storage.

Nancy A. Ruhling is a freelance writer based in New York City.

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