Take It Or Leave It

It's a bit of a squeeze, but this Kips Bay one-bedroom is also something of a steal compared to the rest of the area

By Lucy Cohen Blatter  | July 19, 2017 - 10:59AM

While it might seem small, note that this $2,250 one-bedroom in Kips Bay is a whopping $1,000 less than the area median, so for someone who's looking to live in central Manhattan, a bit of a squeeze might be worth the savings.

Note: This apartment is on the third floor of a walk-up building, and no dogs are allowed.

But assuming neither of those things are deal breakers, is it worth considering this place? For more perspective, we asked our experts (and veteran renters) to weigh in. With me for this week's Take It or Leave It is Constantine Valhouli, founder of real estate research and analytics firm NeighborhoodX and freelance writer Lambeth Hochwald.

Size: One-bedroom, one-bath
Location: 224 East 27th Street (between Second and Third aves.)
Flexible layout: No
Days on the market: 2
Subway: 6 at 28th Street







Pros and cons:

"Sure it's compact (you can see that the current renter's stuff has taken over), but it's certainly not the tiniest apartment I've seen. The listing says it's a true one-bedroom, but it feels more like a studio with a wall built between the living room and bedroom area. That said, both of the rooms seem to have decent amounts of space. The kitchen looks small, but you'd just have to buy one of those movable kitchen islands the current tenant has." —Lucy

"This is not a bad price for a one-bedroom apartment in Manhattan—but it might be a stretch for the owner to ask the tenant to cover the one-month brokers fee. Kips Bay is in a part of Manhattan where there isn't quite a sense of neighborhood yet. It doesn't quite have the serenity or elegance of the blocks surrounding Gramercy, or the energy of the tech and media companies in Flatiron —although both are a quick walk away." —Constantine

"If you're seeking a compact space in Kips Bay, this one-bed is for you but holy messy throw blankets Batman—this place needs a serious bit of housekeeping before I can even weigh in on whether it's worth a look-see." —Lambeth

Who this apartment would be perfect for:

"A single person (with a very decently paying job) who's ready to put the roommate life behind them. Also, someone who works in Midtown or Flatiron might be able to walk to work." —Lucy

"Someone who works nearby, and perhaps prefers the convenience of walking to work to a more well-designed space." —Constantine

"An NYU medical resident with a trust fund. It's over $2K per month before you even factor in the broker fee." —Lambeth

The verdict(s):

TAKE IT "Just see if they'll budge a bit on that one month's broker fee." —Lucy

TAKE IT "But ask for the owner to cover the broker fee." —Constantine

LEAVE IT "Especially if you tend towards claustrophobia."—Lambeth



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