Condo pick of the week

A compact three bedroom in Soho priced way below the median at $1,749,000

The apartment is priced well below the median but falls somewhere between compact and cramped.

Halstead

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2019
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The median sales price for a three-bedroom apartment in Soho is currently $4,555,000, according to data from Street Easy, which makes this condo, 199 Prince St., #15, offered at $1,749,000, look like a bargain, especially when you consider that the median for two-bedroom units is close to $3 million. As you might expect, there are several clues as to why this unit is for sale below the median, but depending on your circumstances, they might not be deal-breakers.

The apartment is on the fourth floor of a small pet-friendly walk-up. Can you tackle the stairs? There are six stories in the prewar building so it could be worse. The kitchen is certainly compact—notice the shelving across the window above the small sink. There's just enough countertop space, and some high-end appliances, like the Wolf range and Liebherr refrigerator. Don't be fooled into thinking the lower cabinets to the right of the dishwasher will store your saucepans, that's where the washer/dryer lives. 

There's a live-in super and the building uses a virtual doorman. Monthly common charges aren't too high (no elevator expenses) at $609. Monthly taxes are $805 and the last three-bedroom apartment to sell in the building (with an identical layout) went for $1,500,000 in 2015. 

The living room is open to the kitchen and has the bedrooms on either side. 

Dreams of a king bed might have to be put on hold. You can tell by the configuration of the bed—partially covering the window—that this is not a spacious bedroom. There is a closet by the door. 

The second and third bedrooms are just at the legal size limit for bedrooms in NYC. 

There's one bathroom in the apartment and it has modern finishes with a tub, custom glass shower door, shelving, built-in towel rails and brushed nickel features. 

The layout shows an entryway with a closet opening into the kitchen/living area.

In Brick Underground's roundup of where to invest in 2019, one broker's advice was to buy in "well-known neighborhoods with colorful, interesting, desirable histories." Soho has all that in spades. In terms of transit, there are plenty of options with nine subway lines within a 10-minute walk. Spring Street station is two-minutes on foot with access to the E, A, and C lines.