Image of 117 kingsland avenue brooklyn 3b

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.

Image of 117 Kingsland Ave 3B

The Price: $659,000

Image of 117 kingsland Ave 3b

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.

Image of 117 Kingsland Ave 3B

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.

Image of 117 Kingsland Ave 3B

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.

Image of 117 Kingsland Ave 3B

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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