The median price for a studio in the coveted Chelsea neighborhood is $552,500, according to StreetEasy, making this $475,000 prewar studio, 300 West 23rd St., # 3I, seem like a real steal. Other pluses for the apartment include a separate dressing area just outside the bathroom, room for a queen-sized bed, and two large closets.

The living area is a good size and doesn’t feel cramped with a couch, coffee table, chaise lounge, and that queen-sized bed by the window. Charming period details—refinished oak hardwood flooring, beamed 8.5-foot ceilings—mix with more modern touches—such as a multi-speed ceiling fan—for a blend of old and new.

The windowed kitchen is on the small side, but still manages to have all the requisite appliances—stainless steel appliances, including a Fisher Paykal drawer dishwasher (a dishwasher isn’t always a given in a studio), a decent number of cabinets, a deep sink with a pull-out spray faucet, and a small amount of counter space.

The only weird thing in here is a sizable—and very noticeable—space between the drawer dishwasher and the sink. It’s too bad it isn't hidden behind a panel of some sort so that the eye isn’t automatically drawn here.

The bathroom looks to be in good condition, but its 1930s style—and random green accents—will definitely be too old-fashioned for some. Just outside the bathroom is a dressing area with room for a large bureau. Folks who don’t need or want such a thing could probably put in a desk, instead, and use the space as a home office.

The studio is in a 21-story fully-restored prewar co-op building. Pets, pied-à-terre use, and parents buying for their children are all permitted. Amenities include a 24-hour doorman, a live-in resident building manager, a laundry room, a bike room, and on-site storage (that you can rent for an additional fee).