Want to purchase an apartment in Manhattan for under $500,000.  What if we told you we found a Midtown charmer for under $400,000.  Well indeed we did and we think it’s a great deal for someone looking for a starter home or pied-a-terre within easy walking distance to the central business district.  

This handsome little gem is located at 321 East 54th Street, an 11-story pre-war between Second Avenue and First Avenue in the Sutton Place neighborhood.  The building has a daily part-time doorman from 3-11 PM and a resident super.  There is bike storage, regular storage, a laundry room and a modest roof deck with skyscraper views. 

While we could not find any historical answers, it is interesting to note that all of the building’s 102 apartments are either studio or one-bedroom residences.

Apartment 8-F is a two room studio with a very livable layout.  Step into the extended entry foyer and there is an air of elegance bestowed upon the visitor.  Off to the immediate left is a renovated windowed kitchen.  Two closets, one of which is a walk-in, are also accessible from the foyer.  The living/sleeping area is full of character.  Nine-foot beamed ceilings, original moldings including deep crowns, warm wood plank flooring and a decorative fireplace offer the bones to make this a wonderful studio home.   Two oversized windows bring in nice light to the main room. Even the cast iron radiator which sits under the double window offers a touch of pre-war charm. 

This uniquely priced midtown studio is being offered at $385,000.  The monthly maintenance is $1,016 and the co-op allows up to 80% financing.  Pied-a-terres are allowed as is parental purchasing for children.  The apartment is being represented by Karl Kozel of CORE.  To view further details, please visit Linecity.com.