How Much Does a One Bedroom Apartment Cost to Buy in NYC?

One bedroom apartments in Manhattan range from $200k to $5 million and up. The least expensive apartments are co-ops which can be found in upper Manhattan neighborhoods such as Harlem, Washington Height and Hamilton Heights. The priciest one-bedroom apartments in Manhattan are condos located on Billionaires’ Row in Central Park South which offer direct Central Park views.

Outside of Manhattan, one-bedroom apartments in Queens range from $100k up to $2 million. Prices in Brooklyn start around $150k and top-out around $3 million.

Condos in NYC are 10% to 40% more expensive than comparable co-ops, and the priciest apartments will almost always be new construction.

It’s important to keep in mind that most co-ops, although cheaper than condos, require a minimum of 20% down. Co-ops in NYC also have buyer financial requirements. Condo buyer closing costs for a purchaser who is financing are also slightly higher at ~4% compared to ~2% for a co-op, but the reverse is true when you sell: co-ops generally have higher seller closing costs.

Click on the links below to view real examples of one-bedroom co-op and condo apartments in Manhattan, Brooklyn and Queens.

Example One Bedroom Apartments in NYC:

$600k in Park Slope

This is an amazing sun-filled 1-bedroom apartment with low maintenance at the front of a classic pre-war, brownstone co-op in the heart of Park Slope.

Beautifully finished original, wide-plank hardwood floors and high ceilings complement a recently renovated eat-in kitchen featuring stainless steel appliances and south-facing windows. An updated bath offers modern amenities amid the classic charm.

This apartment is a great example of a pre-war starter apartment in ‘Brownstone’ Brooklyn, characterized by townhouse-lined streets, trees and a more tranquil approach to living in NYC.

Given the relatively affordable price point by NYC standard, properties like this are hugely popular in today’s market and typically receive multiple offers which often results in a best and final offer process.

One bedroom apartments in Manhattan range from $200k to $5m. 1 BR apartments in Queens are between $100k and $2m. 1BR units in Brooklyn are $150k to $3m.

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$800k in Chelsea

This is a one-bedroom condo apartment in a relatively new luxury, full-service building in West Chelsea. Although this apartment sold for a healthy ~$1,550 PPSF, it’s one of the least expensive condos in the area due to its smaller size.

This building is located within walking distance to the High Line Park, Chelsea Market, Hudson River Park, Hudson Yards, Chelsea Piers, crosstown bus, and amazing restaurants.

$600k in Battery Park

In a quiet enclave off the Hudson River, this renovated Battery Park City condo is a sun-drenched top floor unit in a full-service building featuring a concierge, gym, storage, a common garden area and a playroom.

This apartment sold for just ~$1,000 PPSF which makes it one of the most affordable true condos in Manhattan on a price per square foot basis. Due to the high supply of apartments in the Financial District and Battery Park, it’s one of the least expensive places to buy a condo in Manhattan.

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$675k in Murray Hill

This high floor, one-bedroom co-op apartment in Murray Hill offers stunning views of the Empire State Building from the bedroom and living room. The unique dining area is situated in a glass-enclosed solarium, with five large windows and spectacular open city views to the north, south, and west.

This unit is located in a full-service co-op building with 24-hour doorman and concierge services. Building amenities include a large roof deck with unparalleled, panoramic views, as well as a fitness center, outdoor garden, private storage, bike room, and laundry room.

$300k in Midwood

This one-bedroom co-op apartment is located on the border of Kensington and Midwood in Brooklyn, nestled on a tree line street and in vicinity of the Q, B and F subway lines.

At just under $300k, this apartment is a perfect starter home with a total monthly mortgage and co-op maintenance payment of less than $2,000. Because it’s a co-op, there are subletting restrictions which means that this property is not suitable as an investment property.

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$600k in Greenpoint

Settled in the trendsetting Greenpoint neighborhood, on the edge of Williamsburg and just steps from McCarren Park you’ll simply love this 1 bed, 1 bath condo.This boutique building has only 7 residences with only 2 units per floor which makes for a quiet and private living experience.

Priced at less than $1,000 PPSF, this unit offers great relative value compared to Manhattan and costlier Brooklyn neighborhoods such as Williamsburg. It’s also suitable as an investment property since this is a true condominium building without subletting restrictions.

$750k in East Village

This beautiful, spacious and true one-bedroom co-op in the East Village offers plenty of pre-war charm with its exposed brick and decorative fireplace. It sold for $730k after just 46 days on the market.

This pre-war, walk-up building is one block away from Tompkins Square Park and close to many great restaurants, shopping, and supermarkets.

$1.2m in Lower East Side

This generously sized condo is located in the Lower East Side, one of lower Manhattans’ trendiest neighborhoods. The apartment features a private terrace, an in-unit washer/dryer as well as Bosch cooktop, range & dishwasher along with Liebherr refrigerator. This particular unit sold for $1,150,000 ($1,511 PPSF) in late 2019.

Built in 2011, 115 Norfolk is perfectly situated mere seconds from The Market Line, Essex Crossing, Trader Joe’s, Target and a 14-screen Regal movie theater. The apartment is just a 60 second walk from the F, M, J, Z in an area that’s bustling with some of downtown’s best restaurants, art galleries, boutique shops and nightlife.

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$350k in Forest Hills

This is an oversized one-bedroom apartment in a pre-war, elevator building in Forest Hills, Queens. It sold for $349k in late 2019, which is just ~$400 PPSF based on an unofficial square footage estimate of 850. The building is a 5 minute walk to Austin St restaurants, E/F/M/R express subway stop and LIRR.

$1.45m in Midtown

Located in the 43- story Platinum condo building in Midtown, this 999 SqFt one-bedroom condo features skyline views and 1.5 baths. It sold for $1,430,000 ($1,431 PPSF) in late 2019.

The building offers many amenities such as a golf simulator, yoga studio, fitness center, lounge as well as an outdoor terrace. The building is located in the heart of the Theater District and steps from Times Square.

$950k in Gramercy Park

This is a high-floor, Junior 4 co-op apartment in Gramercy Park, Manhattan featuring Southern and Eastern exposure with great natural light. The property sold for $935k in 2019 after just 9 days on the market.

Gramercy Park Towers is a full-service luxury building which features a full time doorman, concierge services, state of the art fitness center, a lovely Zen garden with a seasonal fountain, on-site parking garage and bicycle storage.

The building is conveniently located near lots of shopping, restaurants and entertainment with great proximity to Union Square as well as the 4/5/6/L/N/Q/R and W trains.

$1.2m in Greenwich Village

This is a rare and unique sun-filled, corner loft co-op unit in a classic pre-war building in the heart of Greenwich Village. This unit sold in 2019 for $100k above ask in just 25 days with a recorded sale price of $1,300,000.

Built in 1891, 23 Waverly Place is a former factory and classic, pre-war gem in Greenwich Village. The building enjoys great views to the New York skyline and the Empire State Building from the spacious, furnished and landscaped roof deck. The roof is full of benches, a hammock, and cabanas for sun baths during the summer. The building also enjoys an amazing and welcoming courtyard with a unique gated entrance.

$900k in Williamsburg

This boutique, duplex condo in Williamsburg sold for $855k ($900 PPSF) in 2019. The unit features 18’ ceilings, oversized windows as well as an in-unit washer/dryer.

Situated in East Williamsburg, 160 Manhattan Avenue is located amidst exciting restaurants, local businesses, and boutique shops.

$1.2m on Upper West Side

This is a renovated, oversized one-bedroom condo in a full-service building on Manhattan’s Upper West Side. It sold for $1,150,000 ($1,505 PPSF) in late 2018.

The Broadway is a full-service condominium building, centrally located in the most desirable heart of the Upper West Side neighborhood. Located across the street from Zabars and just steps from Riverside Park and Central Park. Multiple subway lines and public transit options, including easy access to the 1/2/3 and B/C trains.

The building has an updated, well-equipped gym, outdoor courtyard, laundry room and recently renovated children’s playroom.

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Published: 2/24/2020
Disclosure: Hauseit® and its affiliates do not provide tax, legal, financial or accounting advice. This material has been prepared for informational purposes only, and is not intended to provide, and should not be relied on for, tax, legal, financial or accounting advice. No representation, guarantee or warranty of any kind is made regarding the completeness or accuracy of information provided. Hauseit LLC is a Licensed Real Estate Broker, licensed to do business in New York under license number 10991232340. Principal Office: 148 Lafayette Street, New York, NY 10013.

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