506 East 119TH Street #PH, New York City, NY 10035
Listing Courtesy of Douglas Elliman Real Estate
$895,000
Potential Rebate: $13,425
Overview
<p> </p> <p>Experience luxurious penthouse living in an elegant boutique brownstone at 506 East 119th Street. This mint-condition, exceptional 3-bedroom condominium (currently configured as 2BR) features a versatile layout perfectly suited to your lifestyle. Impressive proportions include soaring 11-foot ceilings, dramatic 9-foot doorways, and charming original exposed brick walls. Oversized windows frame protected northern and southern views, bathing the home in abundant natural light.</p> <p>The thoughtfully designed open kitchen features sleek granite countertops, and modern conveniences include central air conditioning and an in-unit washer/dryer.</p> <p>A unique opportunity exists to connect a private 1,000-square-foot roof deck, providing an exceptional outdoor retreat and substantial added value potential (see alternative floor plan; subject to approval). The apartment also includes a large private storage unit and bike storage.</p> <p>With remarkably low carrying costs, this property represents outstanding value in the New York condo market.</p> <p>Ideally located moments from East River Plaza-featuring Costco, Target, Best Buy, and more-the home offers unparalleled convenience. The nearby 6 train at 116th Street provides swift access to Midtown Manhattan, while the finest dining, shopping, and lifestyle destinations of the Upper East Side are just minutes away.</p> <p> Current assessment of $1,000 monthly through September 2026</p> <p> </p>
Home Features
- •Central Air
- •Washer Hookup
- •In Unit
- •Private Outdoor Space Over 60 Sqft
- •City
Estimated Monthly Payment
$5,230 per month
30 year fixed, 6.28% Interest
Estimated Rebate for this Home
One-time rebate at closing
$13,425
Monthly savings impact
$37/mo
💡 Estimated at 1.5% of purchase price
The rebate is paid to you at closing and can help offset closing costs or other expenses.
Calculator Disclaimer: This calculator provides estimates for informational purposes only. Actual monthly payments, interest rates, taxes, and rebate amounts may vary. The rebate calculation is an estimate and subject to final terms. This information is not provided by the Real Estate Board of New York (REBNY).
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Listings
RLS IDX Data display by Real Estate Rebate Team. This information is not verified for authenticity or accuracy and is not guaranteed and may not reflect all real estate activity in the market. ©2025 The Real Estate Board of New York, Inc., All rights reserved. IDX information is provided exclusively for consumers’ personal, non-commercial use and it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.
All information furnished regarding property for sale, rental or financing is from sources deemed reliable, but no warranty or representation is made as to the accuracy thereof and same is submitted subject to errors, omissions, change of price, rental or other conditions, prior sale, lease or financing or withdrawal without notice. All dimensions are approximate. For exact dimensions, you must hire your own architect or engineer and for no listing shall the number of bedrooms listed be considered a legal conclusion.
The Real Estate Rebate Team
Listing Courtesy of Douglas Elliman Real Estate
Data Source: TRESTLE #RLS20014801
Price Analysis
Compare average listing prices and value metrics for 506 East 119TH Street against the surrounding East Harlem market.
Average List Price
Price Per SqFt
11.35% Lower
than the East Harlem price-per-sq-ft average
Units in this building are listed below the neighborhood average, potentially offering better value per square foot compared to surrounding properties.
East Harlem
Overview of East Harlem
East Harlem, also known as Spanish Harlem or El Barrio, is a culturally vibrant neighborhood stretching from 96th Street to 125th Street on the East Side. It is a community rich in history, music, and art, offering some of the most affordable access to Manhattan living. For buyers looking at East Harlem Manhattan real estate, the area provides value and strong cultural roots.
Living in East Harlem, Manhattan is colorful and spirited. It is a neighborhood where murals adorn the walls and salsa music fills the air. As an evolving Manhattan NYC neighborhood, it is seeing new investment and development while fighting to maintain its distinctive Latino heritage and community soul.
Real Estate & Housing Market
The market for homes for sale in East Harlem is one of the last frontiers of affordability in Manhattan below 125th Street. Inventory ranges from HDFC income-restricted co-ops to newly constructed luxury condos that offer amenities like roof decks and gyms at a fraction of the cost of the Upper East Side.
Investors are active here due to the incoming Second Avenue Subway extension and the rezoning initiatives. It attracts first-time buyers who are priced out of Yorkville but still want quick access to the Midtown corridor.
Lifestyle & Community
The lifestyle in East Harlem is community-centric. Residents shop at the La Marqueta marketplace and gather at local panaderias. The dining scene is a highlight, featuring legendary spots like Rao's (if you can get a table) and authentic Puerto Rican and Mexican cuisine.
The vibe is energetic and unpretentious. The neighborhood has a strong activist history and a deep sense of pride. Cultural institutions like El Museo del Barrio keep the local traditions alive and vibrant.
Transportation & Accessibility
East Harlem is currently served by the 4, 5, 6 trains on Lexington Avenue, which can be crowded but efficient. The M15 Select Bus Service offers a rapid alternative down First/Second Avenues.
The biggest news is the future Phase 2 of the Second Avenue Subway, which will bring new stations to 106th and 116th Streets, dramatically improving connectivity and real estate potential. Easy access to the FDR Drive and the RFK Bridge makes it convenient for car owners.
Parks, Schools & Amenities
Thomas Jefferson Park is a major asset, featuring a large pool, track, and sports fields along the East River. Residents also have access to the northern reaches of Central Park, including the Conservatory Garden.
The neighborhood is amenity-growing, with a large Target and Costco at 117th Street (East River Plaza) providing suburban-style shopping convenience that is rare in the borough.
Who This Neighborhood Is Best For
East Harlem is best for first-time buyers, value-seekers, and cultural enthusiasts who appreciate a strong neighborhood identity. It is ideal for those who want to be part of a diverse, transforming community.
