The Cheapest Apartments For Sale in New York's Priciest Areas

So here's the thing about New York City: it's expensive to live here. Yes, the rent is too damn high, but buying property isn't any cheaper. The median sale price for Manhattan was $970,000 at the end of the first quarter, but for a lot of neighborhoods, including some in Brooklyn, the median is way more than that. In Tribeca, which is constantly one of New York's most expensive places to live, StreetEasy puts the median at a whopping $5.8 million. But, as we've proven before, there are deals to be found. Using data from market reports and PropertyShark, we picked 10 of New York's most expensive neighborhoods and found the cheapest apartments currently on the market in those areas. They are all less than a million, and—spoiler alert—most are tiny.

↑ Welcome to Soho's cheapest apartment: a "Dreamy Sullivan Street Studio" between West Houston and Prince streets. Dreamy may be in the eye of the beholder, but this blue-painted co-op is undeniably tiny. The brokerbabble touts "two separate living areas, one suitable for a dining table or sofa, and the other suitable for a bedroom set and dresser," but the photos don't exactly reflect that kind of roominess. Also, it comes with a tenant in place till January 31, 2016. Welp, looks like that's what $299,000 gets you in one of the city's swankiest areas.

↑ The Upper East Side is home to two of the country's most expensive zip codes, and its sub-neighborhoods of Lenox Hill and Carnegie Hill are equally pricy. Of all these areas, Carnegie Hill is currently the most expensive, according to median price data on StreetEasy. Homes here routinely ask more than $3 million, but this studio on East 88th Street is just $315,000. It's less than a block from Central Park, and it has a huge kitchen. The downside? At 255 square feet, it's definitely a micro dwelling.

↑ The two cheapest apartments in Chelsea (which includes West Chelsea) are actually HDFC units that must be purchased in all cash by homebuyers who meet income restrictions. The next-cheapest place is this studio tucked into the southeast corner of the area on West 15th near Sixth Avenue. The co-op is asking $399,999. Pros: a separate kitchen and lots of built-in shelving plus a desk. Cons: it's 325 square feet.

↑ "When it comes to location, you can do no better. When it comes to light, you can get none brighter, and when it comes to price, you couldn't be happier," according to the brokerbabble for this studio on Cornelia Street in the West Village. The 400-square-foot co-op been on the market for a week asking $440,000. The exposed brick is painted white, there's a working fireplace, and the walk-up building has "a huge private garden."

↑ Ah, NoMad, an area bursting with new development. Here, a glammed-up studio at the hilariously named Madison Parq (yes, that's a Q) has the lowest price tag: $429,000. On 27th Street between Madison and Fifth avenues, it's actually pretty close to the parq park. The co-op emerged from a gut renovation in 2011 with some fancy lighting fixtures and a walk-in closet.

↑ The new "billionaire's row" of 57th Street may top Central Park South with its wildly expensive new developments, but the sliver of a neighborhood just below the park is still one of Midtown's priciest areas. Homes here average a mind-numbing $5,500 per square foot according to StreetEasy, but the cheapest place currently on the market is asking just $876 per square foot. It's a 525-square-foot studio, which should be quite roomy, but the dark listing photos show a cramped-looking space. It's located in the Hampshire House, and it's asking $460,000.

↑ As its name implies, the Columbia Street Waterfront District is a smallish neighborhood facing New York Harbor across from Governors Island. Located west of Cobble Hill and Carroll Gardens, it's not really close to any subway stop, but it's a coveted area nonetheless. The least pricey option here is a one-bedroom condo (though the brokerbabble touts that it can be converted into a 2BR, no problem, and provides an alternate floorplan to prove the point) for $699,000. The listing also claims there's "awesome views of the NYC skyline," but none are pictured in the listing, so... there are probably nice views from the building's communal rooftop, though.

↑ Tribeca is consistently Manhattan's most expensive neighborhood, for buyers and renters. Currently, StreetEasy shows the median price for listings in the neighborhood to be a whopping $5.8 million, and at the end of the first quarter, Compass put the median at $3.1 million. But surprisingly there, the area still has homes for less than $1 million (albeit only three of them right now, but hey, it's something). The least expensive apartment is unsurprisingly a studio that's asking $699,000 for its 429 square feet. It's located on Greenwich Street just north of Chambers, and the current occupant fits and impressive amount of furniture into the apartment.

↑ For all of 2014, Dumbo was the fourth most expensive neighborhood in all of New York City, according to PropertyShark. The median was nearly $1.4 million, and StreetEasy currently puts the median even higher, at $2,672,500. But at 85 Adams Street—which, admittedly is not "prime" Dumbo—there is a 779-sqaure-foot one-bedroom asking "just" $899,000. It is the largest and second priciest apartment on this list.

↑ This railroad apartment on Mott Street is on the fourth floor of a walk-up and is located about half a block north of Canal Street—which means it's almost Chinatown... but not quite. Its $995,000 price tag makes it the most affordable apartment available in Noho right now (though it originally asked $1,169,000 when it listed in April). The one-bedroom co-op does have "ten full windows," a washer/dryer, and a nice renovation that preserved attractive exposed brick.