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Rent or Buy? Running the Numbers On Five Downtown Studios

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Every few weeks, our friends at StreetEasy run the numbers on apartments that are listed for both sale and rent in New York to compares the monthly costs for apartment hunters searching for the best deal. The tool doesn't take into account every single thing (tax deductions are not factored in), but it's one way to try to answer the eternal "rent or buy" question. Here now, we compare the data on five downtown studios, all of which are members of the Six Digit Club. These numbers assume a 20 percent downpayment and a 30-year fixed mortgage rate of 4.406 percent.

Address: 40 Broad Street, #28C, in FiDi (above)
The Skinny: 590-square-foot unit in the amenity-laden Setai Wall Street
Sale Price: $699,000
Maintenance/Taxes: $759/month
Total monthly costs when buying: $4,047
Rental price: $3,000/month


Address: 23 Waverly Place, #3A (above)
The Skinny: A co-op studio with a sleeping loft in a building with a shared courtyard and rooftop deck
Sale Price: $529,000
Maintenance/Taxes: $755
Total monthly costs when buying: $2,876
Rental price: $2,795/month


Address: 317 East 18th Street, #SE (above)
The Skinny: Near Gramercy Park, a co-op unit with a half-sized kitchen
Sale Price: $290,000
Maintenance/Taxes: $890
Total monthly costs when buying: $2,053
Rental price: $2,000/month


Address: 99 John Street, #813 (above)
The Skinny: 671-square-foot studio with a home office in the Financial District
Sale Price: $775,000
Maintenance/Taxes: $425
Total monthly costs when buying: $3,907
Rental price: $3,650/month


Address: 650 6th Avenue, $6B (above)
The Skinny: 700-square-foot west-facing condo in Flatiron's the Cammeyer
Sale Price: $975,000
Maintenance/Taxes: $689
Total monthly costs when buying: $5,527
Rental price: $4,000/month
· StreetEasy [official]
· Costs of Living archive [Curbed]

The Setai

40 Broad Street, New York, NY