1 BR Condo In Park Slope/Gowanus For $330k

It's not everyday you see an apartment within a sniff of Park Slope for under $350k.  And trying to find a one bedroom CONDO in this neighborhood for this price is like trying to find a pink unicorn.

But that's exactly what's on offer at 630 Union St. Apt. 5E, a listing from Brooklyn Properties.   We haven't seen this one in the flesh, so we'll take the listing agent's word that it's a legit 1 bedroom and not a studio.

From the one interior picture (come on, BP, give us more!!!), it's clear this place is smallish and hasn't been renovated in a long time:

Plus, there's an additional catch: this place is on the fifth floor of a five-story walk up.  Not for chain smokers or the faint of heart, but whoever buys this place is going to have some diesel legs in short order.

The building is nothing special, and it's very close to unbearably busy 4th Avenue, but it's far enough on to  Union St. that noise shouldn't be a deal-breaker.

For a little bit more money we'd rather be in 292 7th St. (now in contract) and perhaps 475 Sterling Pl. (still available, despite the Streeteasy ad being down).  At this price, however, it's hard to find anything better.

Who It's For:  A first-time buyer who doesn't have enough income to land a co-op, but still wants to be near the slope.  Also appropriate for anyone looking to drop a few pounds.

The Intangibles:  Despite the proximity to noisy 4th Avenue, this unit is in a great location:  just one block from Union Hall, a HiBK favorite, and right next to the Union Ave D/N/R train.

The Numbers:  This bare-bones listing doesn't provide anything in the way of square footage, so we'll guess it's around 500 square feet, putting the price per square foot in the $600 range.  Common charges are a minuscule $263/month.

The Bottom Line:  If you thought you were priced out of the Park Slope condo market, this could be your last chance to grab a one bedroom east of 4th Ave under $350k.

Worst. Listing. EVAR: 765 Maple St.

I didn't go to advertising school, but I'm pretty sure the best way to sell a duplex isn't with a photo of a moldering toilet.  Apparently one broker has different ideas.  Meet 765 Maple St., a bed-stuy duplex listed for $349,000.  The featured photograph isn't the most appetizing:

Who's hungry for some real estate?!?

It doesn't get much better in the rest of the photos.  The rest of the photos aren't much better:

Love the random bling-arm creeping into the right side of the picture.

Curb appeal isn't much better than the inside:

Who It's For:   Mr. Clean

The Numbers:  3,850,000 germs/sq. ft.

The Intangibles:  Nothing in this duplex is tangible.

The Bottom Line:  This place is a dump!

Weekly Sales Roundup: Glass Box Version

It was a slow week in the Brooklyn condo market, with very few sales recorded in the areas we focus on.

This 3 BR/ 2 BA duplex condo unit went in Greenpoint's The Edge, originally listed for $1,430,000 went for $1,328,000 (a whopping $806/sq. ft.).

  

This 1 BR / 1 BA condo on the third floor of 306 Gold St., originally listed for $495,000 went for $466k:

Sales in these new constructions are a positive sign for the Brooklyn condo market.  With so much capacity coming onto the market just as the market was crashing in late 2008, there was reason to believe that the Brooklyn condo market would be depressed for a long while.  There are still some boondoggle glass boxes out there (we're looking at YOU 163 Washington Ave).  But, for the most part, buyers are willing to take the views and creature comforts that these buildings afford even if they have to sacrifice some of the charm and location of older walk-ups like 33 St. Marks Ave.  


We'll have more on The Edge, 306 Gold St., and other "glass box" buildings that have recently sprung up around Brooklyn in the next few days . . . 

Out With The Old: 33 St. Marks Ave.

Modern renovations in pre-war brownstones are harder to find than you might imagine.  That's why 33 St. Marks Ave. caught our eye.  It's a large 4 story + basement walk-up that has been renovated from top to bottom.  There are four units for sale: ground floor duplex listed for $1,485,000 (already under contract), two two-bedroom units listed for $925,000 each, and a final two-bedroom with access to a glorious roof deck, listed for $1,185,000.

The apartments have been decked out with carefully selected finishes: oak (we think) floors, modern cabinetry, stylish sinks and faucets.  No expense was spared on the appliances:  fine Bertazzoni ranges, Fisher & Paykel refrigerator and two-drawer dishwashers, an in-unit washer/dryers.  There's even a wood-burning fireplace.

The layouts are sensible, with two-proper bedrooms in back, and a spacious living room that enjoys southern exposures through through bay windows.  

The piece de resistance of this building is the roof deck on the fourth floor.   With gas, water, and electrical hookups, this deck is going to make someone into the king or queen of the summer barbecue.

So what's missing here?  Perhaps a soul.  Whether it's the dry staging or the complete lack of original details, it's hard to say.  But this place feels more like an Ikea showroom than a home.  Perhaps a re-decoration would help, but it's hard to get back the character that's lost when a building is completely gutted and renovated.

Who It's For:  A young, well-heeled couple, free of sentimental attachment to antique charms.

The Numbers:  Unit 3 (without the roof deck) is listed at $822/sq. ft.  Assuming 20% down, that's a monthly payment $4188 including common charges (which are $216/month).

The Intangibles:  In the heart of the north slope, two-blocks from the Bergen St. 2/3 stop.  Also close to some of our favorite restaurants and bars, including Taro Sushi and Flatbush Farm.  The Atlantic Yards project is going up close-by, and the long-term effects on traffic and the neighborhood are difficult to guess.

The Bottom Line:  For this much money, we can think of a few buildings we'd rather buy.  Still, renovated condos in walk-ups like this are rare.  If you like it, jump on it. 

Park Slope Minimalism: 398 13th St., Apt. 4B

Lately we've been talking to a lot of first time homebuyers - our friends with good credit, access to downpayment funds, but without the type of income that co-op boards typically desire.  These folks are looking for affordable condos in nice neighborhoods.  Unfortunately, such places don't come around so often.  It seems that most condos on the market right now are new constructions in less desirable locations, or overly-renovated palaces with astronomical asking prices.  

398 13th St., Apt. 4B represents a nice niche in the Brooklyn condo market: a comfortable two-bedroom with everything you need and nothing you don't.  And, listed, at $540,000, it's even affordable.  Best of all, it's in Park Slope, land of ever increasing property values.

We dig the wood burning fireplace and brick mantle in the bedroom.  Recessed lighting is a plus. The kitchen decor is passable if uninspired, though the stainless steel appliances certainly seem to be in order.

Curb appeal is fine:

Of course, there are some downsides to this place (it wouldn't be affordable if there weren't).   It's a small place - not even 600 sq. ft. by our estimation.  There's hardly any storage space to speak of.   The north/west lighting situation is likely to be a bit dim, and fronting 13th St. and 7th Aves will be noisy.  Finally, at $799, the maintenance is quite high.

Still, this is a proper two-bedroom apartment.  You could fit a queen size bed in each room without issues.

There's an adorable wood burning fireplace in the master bedroom, and apparently a private roof deck somewhere.  Someone is going to gobble this place up at pretty close to asking.

Who It's For:  A young couple with no desires to be urban pioneers (thus attracted to the Slope) and with designs on starting a brood in the near future.

The Numbers:  Asking price is around $900/sq. ft., which is par for the course in the neighborhood. A 20% downpayment of $108,000 gets you a monthly payment of $3118.  

The Intangibles:  Located in prime Park Slope, this apartment is four blocks from the F train, close to the park, and just off 7th Avenue, with all its attendant charms.  Location, location, location.  

The Bottom Line:  Small but sensible apartment in the heart of it all - somebody is going to pick this place up near asking.

Prime Park Slope 2 BR

So often we find that the best listings come from the lesser known realtors.  This week's gem comes by way of Warren Lewis - a bright two bedroom coop right next to Prospect Park.  Meet 116 8th Ave, 5A.

We're loving the window in the kitchen, which looks small yet charming.

Great pics of the bedroom and living room as well.  You can tell it's been tastefully decorated.

Note the kids toys on the bottom shelf:

 The floor plan reveals that this is a proper two bedroom apartment, not a "1 BR and office" that we so often see trying to masquerade as a 2 BR.

The location is fantastic - one block from Prospect Park, and three blocks from the 2/3 train at Grand Army Plaza.

So, what's the catch?  Well, there's two - it's small for a 2 BR (only 1000 sq. ft.) and the maintenance fees are pretty astronomical ($1350/month).  Still, if you have this kind of money, places this nice only comes around so often.

The Numbers:  Asking price is $839/sq. foot - that's about par for the course in Park Slope.  A downpayment of $167k gets you an all-in monthly payment of $4953.

The Intangibles:  Convenient to both the park and the trains, this is exactly where you want to be if you're paying Park Slope money.

The Bottom Line:  The high common charges make us curious about the building finances - we'd want to know more before bidding.  But this is a prime Park Slope apartment for prime Park Slope prices.

Hot Out The Oven: 331 Sackett St., 2L

Here at Home In BK, we like to bring you new listings to let you get a jump on the competition.  On 331 Sackett St., 2L we might have caught Corcoran out as well.  Normally, they're great about giving you plenty of pics and info.  Here, they've just thrown up this listing, and there's only one grainy interior pic to work with.  Hopefully by the time you view this, Corcoran will have filled out the listing.  

So why are we focusing in on this half-baked bread? Well, it's not every day that a decent, renovated, pre-war apartment comes on the market in prime Cobble Hill.  And this is PRIME Cobble Hill, sitting happily between  über-fashionable stretches of Smith St. and Court St.  

The exterior looks great:

Here's the one, grainy interior pic we have to work with:

Nothing special, but at least it's clearly been renovated in the recent past.

The floor plan completes the picture - this is a railroad-style apartment, very little closet space.  South-facing windows in the living room.  Bedroom is in back, getting less sun but more peace and quiet.  Also, the bedroom almost assuredly looks out over a nice green backyard.

The Numbers:  Asking price is $822/square foot, which sounds high until you consider the neighborhood.  Common charges of $638 are about par for the course.  $105k downpayment gets you a $2892 monthly payment, including common charges.

The Intangibles:  Cobble Hill is the cutest (and priciest) neighborhood in Brooklyn.  Here, you're two blocks from the F and G trains, which will come in handy if you ever decide to leave your neighborhood.  

The Bottom Line:  If you have this kind of money, there are bigger and nicer places you can buy in Prospect Heights, Clinton Hill, and other neighborhoods further east.  However, in terms of loving where you live and being able to count on high demand when you decide to sell, you can't do much better than this.