Gramercy has a rep as one of the city's most sought-after (and high-priced) neighborhoods, but this Gramercy House studio—asking $525,000—has the makings of a perfect starter apartment for a buyer whose heart is set on this specific corner of Manhattan.

Though the apartment is definitely more "studio" than "junior one-bedroom," the layout is such that the kitchen is slightly separate, as is the sleeping area, which is located in an alcove off the living room and enclosed by a set of glass doors to give it the feeling of a full-fledged bedroom.

The listing notes that that the kitchen has recently been renovated and the apartment's electrical work upgraded; still, the space still maintains original details including hardwood floors, a beamed ceiling, and original subway tile in the bathroom. (The building itself has lots of old-school Art Deco touches on the facade and in the lobby.)

The building also includes many enticing extras, including a shared residents' garden, a planted roof deck, 24-hour concierge, a part-time doorman, as well as a laundry room and bike storage.

While the building does allow cats and dogs, pied-a-terres are a no-go, meaning you'll need to be buying this place as a primary residence. And note that they require a down payment of at least 25 percent, meaning you'll need a sizeable chunk of cash on hand to close the deal. No keys to Gramercy Park, though, as it's not on the famed greenspace's periphery.