If cobblestone streets, long walks along the Promenade, and views of the Manhattan skyline sound appealing, Brooklyn Heights is the place for you. This always-charming neighborhood has all that plus lots of public-transit options and parks. Sadly, it also has high price points. But our Deal of the Week is a steal: 100 Remsen St. #7D is a Brooklyn Heights 1-bedroom with big, bright windows, tons of closet space, and a surprising price tag.
The Price: $350,000
The median sale price for a Brooklyn Heights 1-bedroom is $759,000, putting our Deal of the Week at less than half the average for the neighborhood.
Buyers who put down the 20% minimum down payment of $70,000 can expect to see monthly payments of $2,420. This includes a mortgage payment of $1,239 and a maintenance fee of $1,181. For comparison, the median rent for a Brooklyn Heights 1-bedroom is $3,075.
Why You’ll Love It…
Walking into this apartment, you’re immediately greeted by a sizable coat closet. Welcome home! There are two more closets in the spacious bedroom, plus one outside the bathroom for all your storage needs. Large windows let in loads of natural light throughout, including in the kitchen, where you can enjoy an open city view while you cook or wash dishes. The 20-foot-long living area has more than enough space to comfortably fit a dining set.
This co-op building is on a lovely tree-lined street and features an elevator and a part-time doorman. There’s a live-in super to keep things well maintained, and pets are permitted, as are pieds-à-terre and sublets. A multitude of subway lines are within easy walking distance, as are the neighborhood’s numerous cafes, bars, and restaurants. The Promenade and Brooklyn Bridge Park are also nearby.
Brooklyn Homes Under $550K on StreetEasy Article continues below
… And Why You Might Not
All this for just $350K? What’s the catch? Well, there are a couple, actually. This is a land-lease building, meaning the building does not own the land it sits on. That explains the high maintenance, which is almost equal to the apartment’s monthly mortgage cost. And the final three words of the listing description are, in all caps, “CASH PURCHASE REQUIRED.” Ouch! However, the relatively low price and ability to sublet makes this Brooklyn Heights 1-bedroom a pretty sweet income opportunity — and the land lease doesn’t expire until 2043. Don’t miss the video walkthrough on the listing!
Check out the listing at 100 Remsen St. #7D, and contact a StreetEasy Expert on the listing for more information.