The year is off to a great start for home shoppers in New York City, with enticing new listings hitting the market at affordable prices. The parade of good deals continues with this double-exposure 1-bedroom at 100 Remsen St. #7B in Brooklyn Heights. Sitting on the top floor of a classic co-op building, this place gets tons of light and offers lovely views, making it an ideal perch for empty-nesters or those seeking to own their first NYC home.
The Price: $375,000
A 1-bedroom for under $500K in any part of the city is a pretty good deal. A 1-bedroom for $375,000 in a neighborhood where the median asking price is $1,590,000? That’s certainly worth talking about.
In fact, the entire price for this co-op is about the same as a 20 percent down payment for the average property in Brooklyn Heights. And with 750 square feet of space, that price comes out to to a very reasonable $500 per square foot. The going rate per square foot in Brooklyn Heights, in case you are wondering, is almost triple that, at $1,396.
Although you can’t call Brooklyn Heights a trendy neighborhood, it is certainly one of the borough’s most established and desirable enclaves. Instead of bespoke cocktail bars and CrossFit gyms, the Heights is known for tony townhouses, expensive private schools and exclusive racquet clubs. If you prefer sweeping views and quaint streets over hip restaurants and nightlife, though, this might be a keeper.
Why You’ll Love It
If you’re looking for a convenient, centrally located place to downsize, this co-op checks all the boxes. It’s big enough not to cramp your style, and it’s in turn-key condition — perfect for a couple who doesn’t want to deal with many hassles.
With freshly polished floors, new windows and a newly renovated kitchen, there’s hardly a thing to worry about here. The kitchen features all stainless-steel appliances and a breakfast bar. Although the building dates to the 1950s, this unit has a more modern, open floor plan. And with all the storage space on offer, empty-nesting couples won’t have to empty too much out their current nest.
When it comes to top blocks in Brooklyn Heights, you can do no better than Remsen Street. It offers a lovely, tree-lined atmosphere and proximity to both Montague Street, the neighborhood’s main commercial drag, and the plethora of transportation options at Borough Hall.
In a further appeal to the snow-bird set, this building is open to pied-à-terre use and subletting, and includes an elevator and a part-time doorman.
And Why You Might Not
There are two big drawbacks here: first, the monthly maintenance fees, which clock in at $1,603.
Second, the co-op at 100 Remsen Street has a land lease that’s set to expire in 2043, which may help explain the low asking price. When that lease expires, a new one will have to be negotiated, and, depending on the terms, that could mean a jump in the monthly maintenance fees.
But for any buyer, whether a first-timer or an empty-nester, 2043 is a long while away.
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