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.