In their latest survey, NeighborhoodX looked at the 10 cheapest market-rate apartments to buy in Yorkville. Unsurprisingly, all the apartments they found were studio co-ops, but perhaps what’s surprising is the fact that a lot of these apartments are actually affordable.
The prices on these 10 apartments range from $299,000 and go up to $375,000. Though the NeighborhoodX team was unable to find the square footage on all 10 units, for the ones they did find, apartments vary in size from 400 to 420 square feet, so definitely on the small side, but it could be worse.
The price per square foot on these listings ranges from $723 to $892. In comparison, the average price per square foot in Yorkville, which includes co-ops, condos, and townhouses, sits at $1,458. And overall, the price per square foot ranges from $706 to $2,477, so taking that into account, the studio apartments seem like a good deal for the neighborhood.
“This seems like a relative bargain, given that smaller units tend to command higher prices than larger ones, even in the same building,” Constantine Valhouli, the director of research at NeighborhoodX, said, elaborating on the findings.
Yorkville is a part of the Upper East Side and stretches roughly between East 79th Street to the south, East 96th Street to the north, Third Avenue on the west, and the East River, on the east. This relative affordability may not stick around for much longer, as a mini-development boom is underway in Yorkville, with hundreds of new apartments set to become available in the coming years.