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Rent or Buy? Running the Numbers on Five Chelsea 1BRs

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In an effort to answer the ever-puzzling rent vs. buy conundrum, we recently compared the sales and rental listings for five on-the-market Manhattan studios. This time, the folks at StreetEasy have given us some data on one-bedrooms that are on both the sales and rental markets. Because there are so many 1BRs up for grabs, we're focusing on Chelsea and West Chelsea today, and we'll cover other 'hoods in future weeks.

447 West 18th Street #THGD1 (shown above)
Sale Price: $2,399,000
Maintenance/Taxes: $2,065/month
Total monthly costs when buying: $11,228
Rental price: $12,500
Verdict: Buy!

540 West 28th Street #8E
Sale Price: $1,030,000
Maintenance/Taxes: $815/month
Total monthly costs when buying: $4,749
Rental price: $4,050/month
Verdict: Rent! (Or not: this one's already in contract.)

470 West 24th Street #3G
Sale Price: $799,000
Maintenance/Taxes: $1,600/month
Total monthly costs when buying: $4,652
Rental price: $4,500/month
Verdict: Rent!

344 West 23rd Street #8B
Sale Price: $815,000
Maintenance/Taxes: $652/month
Total monthly costs when buying: $3,765
Rental price: $3,800/month
Verdict: Buy, but it's a close one.

155 West 20th Street #2J
Sale Price: $615,000
Maintenance/Taxes: $717
Total monthly costs when buying: $3,066/month
Rental price: $3,500/month
Verdict: Buy!

· Rent or Buy? Running the Numbers on Five Manhattan Studios [Curbed]
· Rent vs. Buy archive [Curbed]

+art

540 w 28th street, New York, NY