This West Village studio may be teeny (the "alcove" that functions as a bedroom is barely 50 square feet), but what it lacks in size, it more than makes up for in charm. The unit is located on the top floor of a 19th-century "back house," which has its own private courtyard and is accessed via its own little walkway from the street. And the apartment itself has plenty of lovely characteristics, including a wood-burning fireplace. (The bathroom is a whole other story, though.)
This isn't the first time an itty-bitty unit in this building has hit the market: Last year, a ground-floor studio was listed for $625,000—and according to city records, it actually sold for $200,000 more than its asking price. Never underestimate the power of privacy and a good location to drive up the price of a New York City apartment.