New York City real estate is all about trade-offs. You generally have to sacrifice something — space, location, price or amenities — for something else you really want. Finding a place that doesn’t require major trade-offs is a virtual fairy tale in this city. And yet, fairy-tale apartments do appear.
Our deal of the week is a 1.5-bedroom lofted condo at 117 Kingsland Ave. in Williamsburg, listed by Dain Lee, Mathew Krem, Stephanie O’Brien and Jessica Peters of Douglas Elliman. It might very well be a fairy-tale NYC home: The trade-offs are few, and the positives, as you’ll see, are many.
The Price: $659,000
Listed for $659,000, this condo is no fire-sale bargain. Given the layout and neighborhood, however, it does seem to offer considerable value. With a 20 percent down payment of $131,800, you’d pay $2,831 per month across the mortgage, common charges and taxes. That’s less than the median monthly asking rent in Williamsburg, which most recently clocked in at $3,050. So here’s a way to live in a beautiful apartment, be a homeowner, and potentially save money every month.
Why You’ll Love It
Among our favorite combinations of NYC homes are those that offer private outdoor space and in-unit laundry for under $900K. This condo fits that bill, with a balcony and a top-loading washer and dryer. It also features floor-to-ceiling windows, modern appliances, a dishwasher, and a pet-friendly policy.
The floor plan is wide open, with the kitchen adjacent to the main living area. Tucked above the master bedroom is a lofted space with a 5-foot-3-inch ceiling, which can be used as a second bedroom, study, or sitting room. This flexible layout, coupled with the loft-like feel and copious windows, lends an undeniable appeal.
And Why You Might Not
All fairy tales have their dark sides, including this one. The major flaw here is a serious shortage of closet space and a prefabricated feel in the bathroom. The latter looks like what you’d find at a corporate hotel, not a stylish condo in Williamsburg.
And while this apartment is technically within the boundaries of Williamsburg, it is on the far eastern side of the neighborhood, nearly a half mile from the nearest L train stop at Graham Avenue.
Still, this condo probably has enough positives to overcome those flaws. We have a feeling whoever snags this place will feel like they’re living happily ever after.
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