Well-priced starter homes in a postwar high-rise in Murray Hill
When it comes to investing in a Manhattan residence, some prefer to start small. And in a city where the average price per square foot runs well over $1,500, and maintenance fees run high, studios are a good place to start — especially for first-time homeowners. At this 21-story, rental-to-co-op conversion in Murray Hill, most of the 286 units consist of studios roughly priced between $357,000 and $499,000. Built in 1965, Murray Hill Crescent — once dubbed Parker Crescent — is known for its large, curved facade which is set back from the street, convenient Midtown location and friendly staff. “It’s a great starter home. People who live here don’t want to leave the building. It’s very well-run, they love it,” says Aimee Fink, a licensed associate real estate broker with Elegran/Forbes Global Properties, who has sold 28 units in the building. “They did a renovation and didn’t have an adjustment for the renovation. The maintenance price hasn’t risen in about 10 years,” she adds. The building allows pieds-à-terre, pets and co-purchasing, on the condition that parents can only buy units for their working, adult children. One drawback for some, however, is the proximity to the Queens-Midtown Tunnel, the entrance of which is at the foot of the high-rise. On the plus side, green space at the East River Esplanade and a waterfront ride on the 34th Street ferry is only a 10-minute walk away.
Updated roof deck, live-in super and on-site garage
From bustling 36th Street, residents pass a garden on their way to the minimalist lobby, which features a large, curved desk that mirrors the building’s facade. Although it’s not a luxury building, owners at Murray Hill Crescent have access to a 24/7 door attendant, a live-in super and a common laundry room. The furnished roof deck, which offers panoramic views, is also a big benefit: “It was just renovated a couple years ago. You can see the Empire State building, the Chrysler building, and the East River,” Fink says. And during the Fourth of July, it offers a front-row view of the fireworks over the river. “The staff has been there a really long time and takes a lot of pride in the building,” Fink says. There’s also an on-site parking garage residents may use for a monthly fee, and it’s also undergone new inspections and renovations in recent months.
Studios priced just under $400,000
Units range from studios to two-bedrooms, and there are plenty of alcove studios and junior one-bedrooms on the market. For those financing, board approval takes about three months. Studios start in the high-$300,000s and range between 425 and 550 square feet, while one-bedrooms — which go up to 1,200 square feet — typically start at $599,000. Two-bedrooms range between $850,000 to $1.2 million, for up to 1,350 square feet. Monthly maintenance fees, which include taxes and are lower than many other Manhattan co-ops, generally range between $769 and $1,111.
Practical, straight-forward units, many with recent renovations
The common hallways were renovated just before 2020, and many co-op owners followed suit, upgrading their home’s interiors. Buyers can expect to find custom cabinets and granite countertops in the galley kitchens, and sound-reducing windows throughout in some units. Some bathrooms are clad in marble with soaking tubs and rainfall shower heads. “In some of the apartments you can see the East River. If you’re on a lower floor, you can see the cherry blossoms near the garden,” says Fink.
Proximity to the East River, Midtown Manhattan and major grocery stores
For prospective buyers working in Midtown Manhattan, being able to walk to the office is definitely a draw. “It’s a convenient location. Trader Joe’s is right there, Fairway is there. The ferry to Brooklyn and Wall Street is unbelievable,” Fink says. While Murray Hill is certainly a bustling urban area, residents can find some natural reprieve one block away at Vartan Park, a small urban green space with a playground and basketball courts, or at the scenic East River Esplanade, which has two dog parks. NYU Langone Health is also a 10-minute walk away.
Commuting by train, ferry or car
The 4 and 6 trains can be accessed at 33rd Street and Park Avenue, and Grand Central Station is a 10-minute walk away. The 34th Street Ferry is a great way to commute to Brooklyn, Wall Street or Hunter’s Point South in Queens. And for those wanting to dip out of Manhattan quickly by car, the Queens Midtown Tunnel is right outside the co-op complex.
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Quantarium
Current List Price
Sold Price
Area Factors
Low Crime
Crime Score®
3/ 10
Very Bikeable
Bike Score®
83/ 100
Walker's Paradise
Walk Score®
100/ 100
Rider's Paradise
Transit Score®
100/ 100
Sources: WhatIsMyCrimeRisk.com, Walk Score
Sources: WhatIsMyCrimeRisk.com, Walk Score
WhatIsMyCrimeRisk.com, Powered by CAP Index provides objective, accurate, and consistent data to help measure, compare, and mitigate crime risks. Walk Score® measures the walkability of any address. Transit Score® measures access to public transit. Bike Score® measures the bikeability of any address.
Sound Score® measures the noise level of any address. Environmental risk data is provided by First Street Foundation® and is designed to approximate risk and not intended to include all possible scenarios.
Parks in this Area
St. Vartan Park
3 min walk
Baseball/Softball
Basketball
Football
East River Esplanade - Delancey St
6 min walk
Trails
River
Vincent F Albano Jr Playground
8 min walk
Playground
Tudor Grove Playground
8 min walk
Playground
Mary O'Connor Playground
8 min walk
Tudor City Greens
8 min walk
Trails
Events
Botanical Gardens
Ralph Bunche Park
9 min walk
Tudor City Park North
9 min walk
Robert Moses Playground
9 min walk
Baseball/Softball
Dog Park
Trails
Schools
Source:
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