Ya housing in NY / NJ is a function of when the lease was signed (i.e signed a rent stabilized lease is 1985). Signing a new lease is a different game entirely. There’s lot of survivorship bias online in comparing apartments, I’m sure someone can chime and talk about how great a deal they got.

This is probably underpriced if anything, someone could rent the apartment and spend a weekend painting and $500 on some basic upgrades like cabinet handles, fixtures and toilet seat then be left with a great place.