realestate

West Side One-Bedroom Hunt: A $700,000 Budget Showdown

A young couple's search for a co-op unit in Manhattan reveals the challenges of buying in the city.

I
n the whirlwind world of Manhattan's theater scene, Gaby Hernandez and Josh Gordon were part of a tight-knit group where renting was the norm. "We'd sublet in different cities, but buying? That seemed like an impossible dream," said Mr. Gordon, who moved to Manhattan after studying design and theater at Northwestern University. Ms. Hernandez, 28, echoed his sentiments: "I thought owning in New York City was a fantasy."

    Their lives changed when they met online in 2018. They navigated the ups and downs of renting together, from shoebox apartments to a cozy one-bedroom in Hell's Kitchen. But as their careers took off – Mr. Gordon as an architectural lighting designer, Ms. Hernandez as an administrative assistant – they yearned for more. "We wanted a nicer place with an elevator," said Mr. Gordon, 32.

    With around $300,000 saved from his job and some student-loan debt to consider, the couple decided to take the plunge. They set a budget of $700,000 and began their search on the Upper West Side, where Ms. Hernandez had fallen in love with the neighborhood during her time at AMDA. Their wish list included a doorman, elevator, in-unit laundry, sunlight, minimal renovations, and proximity to their jobs – all within a short subway ride or bike ride. And of course, their bichon-poodle mix, Teddy, was welcome too.

    As they embarked on this new chapter, they turned to Niklas Hackstein, an agent with Compass, who had been recommended by a virtual course for first-time homebuyers. "They were excited about starting their next chapter – and planning their wedding," Mr. Hackstein said. "They're a lovely couple."

Real estate agents and buyers navigate a $700,000 one-bedroom apartment hunt in Manhattan.