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Studio with Rare Amenity

Brick UndergroundDecember 13, 2016

This week's "small wonder" pick is a studio in name only, given its duplex layout, as well as extra square footage in the form of a private terrace. Located on the second floor of a Chelsea townhouse at 221 West 14th Street, the condo features exposed brick throughout, as well as 13.5-foot ceilings, a fireplace, and a walk-in closet (not pictured).

 

The sleeping area is lofted, but has reasonable space to move around, and is accessed by a real staircase, not the claustrophobic circular ones, or rickety ladders so often seen in loft-like setups:

 

As for the kitchen, the old-school exposed brick is offset by new appliances, including a dishwasher. The floorplan indicates that the bathroom is located off the kitchen, but it's not pictured, so you'll want to investigate in person to make sure it's in decent condition.

 

Unsurprisingly, none of this comes cheap: The asking price is $845,000, already quite steep for a studio, plus an additional $797/per month assessment for facade work, stairway shoring, and new windows, running through December 2018, on top of the regular mortgage, common charge, and tax payments.

 

That said, while this is a stark difference from its initial $97,000 purchase price back in 1997 (per the StreetEasy sales records), recent transactions show that the apartment has been on and off the market at a variety of price points in the last year or so, meaning you may have some room to negotiate.

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