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Manhattan's Cheapest Apartment: $162K in Inwood

According to New York magazine, the least expensive apartment in Manhattan can be yours for only $162,180. It's a newly renovated, 500-square-foot studio with nine-foot ceilings located in Inwood:

For downtowners, that’s near 207th and Broadway ... There’s not much downside, if you’re willing to live 200 blocks above Houston Street.For $1,000 per month ($40k down + mortgage + $318 maintenance), that's a pretty sweet deal, but all those $30 taxi rides back and forth to the LES are going to add up real fast.
· The Cheapest Apartment in Manhattan [New York]
· Academy Street and Cooper Street [Fenwick-Keats, ID#304819]