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This Gramercy One-Bedroom Is Really, Truly Less Than $500K

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Welcome back to The Six Digit Club, in which we take a look at a newish-to-market listing priced under $1 million, because nice things sometimes come in small packages. Send nominations to the tipline.

Price: $485,000
Address: 317 East 18th Street #1C
Size: 1BR/1BA
Maintenance: $1,238

This one-bedroom may be on the small side?and it doesn't help that the floorplan has no room dimensions, though you can sorta eyeball the square footage?but it still has six closets and a generous sprinkling of windows. There's even room for a small dining area separate from the living room, which is unusual in petite 1BRs. So why has the apartment been on the market since May? And why did the PriceChopper pay it a visit this summer, slashing the ask from $499,000 to a mere $485K? (Especially when the owners bought it for that same amount back in 2006.) A similarly laid-out unit on the 5th floor sold for $550K back in May, so perhaps the first floor location has something to do with it. Or because it's a co-op, maybe the board is stacked with super sticklers. So is this some wacko deal... or not?

· Listing: 317 East 18th Street #1C [Nestseekers via StreetEasy]
· Six Digit Club archives [Curbed]