The price of proximity: What the Thomases discovered at Stop #1

Today, the Thomas family begins the Real Garden Estate Adventure, visiting the first stop on the itinerary.

As a refresher, Emily Thomas is a Jersey-born , career-focused , and baby-juggling New Yorker who’s wondering if her family’s future lies outside of NYC, where she can lean on family and replicate her upbringing.

We’re hitting the commute hard, stopping every 15 minutes along NJT’s Northeast Corridor Line, starting from Midtown West, i.e., a walk to work option, heading out to the Hamilton stop, and ending back up on the Lower East Side.

Let’s check out our first property.

Property #1: 340 West 55th Street #7B, a 1,023 sq ft co-op in Midtown West (Hell’s Kitchen).

Property Details

• 2 bedrooms

• 2 baths

Commute Breakdown

• Location: Midtown West (New York)

• Train Stop: NYC Subway (E at 50th Street)

• Walk to NYC Subway: ~7 min

• Actual (NJT) Train Ride Time: 0 min

• Total Monthly Commute Time: 13.2 hours

• Monthly Commuter Cost: $132.00

Please note: The commute assumes a 6 minute walk to the subway station at West 50th Street, a 7-minute train, followed by a 5-minute walk to the office. This comes out to 13.2 hours/month.

Financial Summary

• List Price: $999,999

• Monthly Mortgage (P&I): $4,732.00

• Monthly Maintenance/Common Charges: $2,930.00

• Utilities, HOA & Other Overhead (Component of Carrying Cost): $200.00

• Total Monthly Cost (All-in): $7,994.00

Pros and Cons Analysis

Pros: 3 sides of (window) exposure, shared rooftop deck, minimal commute with a prime Midtown West unit near Bad Roman.

Cons: Above-average all-in monthly cost, while living in a co-op (which can be restrictive), and doesn’t address the expressed longing to be closer to family.

Coming up: The Thomases take the train!

• Newark Penn >>> 632 Belgrove Dr, Kearny Town, NJ 07032

• North Elizabeth >>> 216 W 6th Ave, Roselle Boro, NJ 07203

• Rahway >>> 150 Carolyn Ave, Colonia, NJ 07067

• Edison >>> 12 Edgewood Rd, Edison, NJ 08820

• Jersey Avenue >>> 10 Julie Ct, Somerset, NJ 08873

• Hamilton >>> 36 Birdie Way, Lawrenceville, NJ 08648

• Reference Point: 530 Grand Street #E8C

Methodology
I identified properties priced around or below $1,000,000 near NJ Transit’s Northeast Corridor Line stops, one Midtown West option, and one LES reference point to compare commute time, costs, and ownership overhead. Assumptions span rates, pricing, and a range of factors covered in the full methodology, all intended to normalize monthly costs across property types.

Full methodology here.