HOMES FOR SALE UNDER $500K MANHATTAN NY
Yes—owning a piece of Manhattan is still possible for less than half a million dollars. From compact pre-war studios in Hudson Heights to income-restricted HDFC co-ops in the East Village and sponsor-unit one-bedrooms in Harlem, Robert DeFalco Realty tracks every Manhattan property listed at $500,000 or below and gives you a quick path from browsing to closing.
Call or text (718) 987-7900 to speak with a Manhattan affordability specialist today.
Homes for Sale in Manhattan under $500,000
What You’ll Find in the Under-$500K Market in Manhattan
- Studio & micro-loft co-ops (200–450 sq ft) in Uptown, Washington Heights, and Midtown East “efficiency” buildings
- HDFC and other limited-equity co-ops offering below-market prices to income-qualified buyers
- Sponsor sales that skip the board-approval process—great for first-time buyers or investors
- Estate-condition apartments ready for renovation (build equity fast with smart upgrades)
- Select one-bedroom condos north of 110th Street, often in elevator buildings with laundry rooms
Why Shop with Robert DeFalco Realty
• Sub-$500K specialists. We monitor niche listings—HDFC bulletins, off-market sponsor units, and price-reduced resales—often before they hit popular portals.
• Board-package coaching. Affordable co-ops can have strict income caps and post-closing liquidity rules; we prepare documentation so you’re approved on the first submission.
• Creative financing. Our in-house mortgage partners know which lenders welcome small loan amounts and co-op structures.
• Renovation resources. Need a contractor for a kitchen refresh or floor refinish? We can refer vetted, affordable pros who work within co-op alteration guidelines.
• 400+ agents strong. Someone is always available to show apartments after work or on weekends—critical when budget-friendly homes move fast.
Frequently Asked Questions
Do Manhattan homes under $500K really exist?
They do—but inventory is tight. On most days you’ll see 30–40 active listings across the borough, often concentrated above 96th Street, in Midtown East’s Tudor City, and in certain Downtown HDFC buildings.
What are typical monthly costs?
Co-op maintenance or condo common charges range from $600 to $1,200 per month, plus electric and internet. We provide a full cost breakdown—maintenance, taxes, and any underlying mortgage—before you tour.
What is an HDFC co-op?
Housing Development Fund Corporation co-ops were created to keep apartments affordable. Buyers must meet maximum income limits (e.g., 120 % of NYC AMI) and usually plan to occupy the unit as a primary residence. Resale profit-sharing and flip taxes also apply. We’ll confirm if you qualify.
How much cash do I need to close?
Although many co-ops ask for 20–25 % down, some sponsor units and select condos allow 10 %. You should also budget 2–3 % of the purchase price for closing costs (lower for co-ops, higher for condos).
Can I use the apartment as a rental or pied-à-terre?
Most affordable co-ops require owner occupancy and restrict subletting. Condos are more flexible but scarce in this price range. We flag each building’s rules so there are no surprises.
Next Steps: See What $500K Buys You in Manhattan
- Browse all current listings below—updated every 15 minutes.
- Click “Request Showing” or call (718) 987-7900; we’ll open doors the same or next day.
- Get board-package help, financing options, and renovation estimates—free consultation, no obligation.
Robert DeFalco Realty | Trusted since 1987 | Serving Manhattan, Brooklyn, Staten Island & New Jersey
< All Manhattan Homes for Sale
or search Manhattan Homes for sale under $500k
Latest Listings
$919,000
$249,000
$700,000
$698,800
$1,549,999
$399,000
$499,000
$399,000
