How much is convenience worth? That's the conundrum posed by this week's Take It Or Leave It listing, and we're not just talking in dollar terms. This studio in a Financial District doorman condo building is walking distance to all of New York's downtown power centers, but it's listed for $2,750 a month, and it measures a measly 569 square feet, according to the listing.
The bathroom and kitchen of the apartment at 88 Greenwich St. are windowless, but they're decked out with lavish finishes, and the galley kitchen offers a lot of cupboard and counter space compared to your typical studio rental. The apartment is also staged without a bed, so you'll have to imagine what that would look like. Unless you install a Murphy bed or one's hiding in here, this may mean going with a smaller couch and/or table. On the bright side, the kitchen appliances are top of the line, the apartment has built-in speakers in the kitchen and bathroom, and the building has storage, a gym, laundry on every floor, a billiard room with a bar, and a roof deck.
So is it worth it?
As always when weighing New York City apartment listings, we turn to our Take It Or Leave It experts: myself, Constantine Valhouli, founder of real estate research and analytics firm NeighborhoodX, and freelance writer Lambeth Hochwald. But first, here are some more pictures.
Pros and cons
"The cons are obvious: It's expensive, and it's tiny. No amount of marble or Sub-Zero-brand appliances can change these facts. Still, those finishes are pretty cushy, and the building amenities sound like something I could get used to. And regardless of what I may think personally of the idea of living two blocks from Wall Street and steps from the Hugh L. Carey Tunnel entrance, it's hard to put a price on not having to ride the subway day in and day out. Okay, a 30-day MetroCard is $121, but you know what I mean."—Nathan Tempey
"There's nothing to knock about this FiDi studio located in Greenwich Club, a retooling of a former 1929 office building at the corner of Rector Street that was flooded during Sandy. Then again, wow, 569 square feet for nearly $3,000 a month? Despite the high-end appliances and hotel feel to the place, this seems like crazy math to me."—Lambeth Hochwald
"Pros: Gorgeous design, especially the way the floor relates the the wood of the kitchen cabinetry. I kind of dig the Jetsons-esque binoculars on the roof deck. Also, the roof deck. Cons: After the kitchen appliances (Viking, etc.) you might be spoiled for your next apartment."—Constantine Valhouli
Who it would be perfect for
"A young, single Wall Street drone putting in long hours and making big bucks. Or the City Hall equivalent."—Nathan
"A financial type who needs a crash pad when it gets too late to schlep home to Westport after a long day on Wall Street."—Lambeth
"Any single person who works downtown and would like to walk to work. And who can afford it."—Constantine
Take it or leave it?
LEAVE IT. "Unless things are really so dire/lucrative that living in the Financial District really makes sense to you."—Nathan
LEAVE IT. "Unless you don't mind micro-living."—Lambeth
TAKE IT. "See you on the roof deck."—Constantine
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