As one of the most expensive and coveted neighborhoods in Brooklyn, Brooklyn Heights has earned itself a reputation. Considering its waterfront parks, unparalleled subway access, and gorgeous housing stock, it’s no wonder prices soar in the neighborhood. But every once in a while, you can find a gem under $500K, like 130 Hicks St. #LD. Our Deal of the Week is a studio in the heart of Brooklyn Heights, just a couple of blocks away from Brooklyn Bridge Park. It’s also a sponsor unit in the co-op building, meaning no board approval required!
Get to know our Deal of the Week!
The Price: $340,000
The median asking price for a home in Brooklyn Heights was $1.6 million this October, according to the StreetEasy Data Dashboard. That’s more than the median asking price in all of Manhattan! At $340K, our Deal of the Week is priced at less than a quarter of the median asking price for the neighborhood.
Buyers who choose to put down the 10% minimum down payment of $34,000 can expect to see monthly payments of $2,957. This includes a monthly mortgage payment of $1,888 and a maintenance fee of $1,069. The monthly payment is also far below the median asking rent in Brooklyn Heights, which was $4,168 this October!
Why You’ll Love It…
While this unit is a studio, it has lots of storage space and a separate kitchen, which helps make it feel a bit more like a 1-bedroom. You enter through a foyer, which contains a closet to the left, the bathroom to the right as well as another closet. The windowed bathroom has a soaking tub and vanity with additional storage. Tucked behind French doors is the kitchen, which includes a full-size refrigerator and oven, plus a decent amount of cabinet space.
The L-shaped living area can be arranged to your liking, and has enough space for a dining set in addition to living room furniture and a bed. Oversized east-facing windows let in plenty of light, especially in the morning. Recently glossed hardwood floors and high ceilings are the cherry on top of this already stellar unit. There’s also another closet in the living area.
Additionally, this studio is the co-op building’s sponsor unit, meaning you won’t have to go through board approval to purchase it. The building itself includes an elevator and laundry facilities. Subletting and various purchasing options like gifting, parents buying, co-purchasing, and guarantors are all allowed.
Location-wise, it’s also a winner. The building is situated between Brooklyn Bridge Park and Cadman Plaza Park, so you’ll have green space on either side of you. Over half a dozen subway lines stop nearby, including the A, C, 2, 3, N, R, and W lines. Countless bars, eateries, and cafes are also on neighboring streets.
…And Why You Might Not
The studio is on the ground floor, which is not for everyone. However, the unit does include new blinds, and there is foliage outside the window for extra privacy. Dogs aren’t allowed, although cats are. The listing also notes that there is no live-in super or available storage.
However, if you’re looking to buy in Brooklyn Heights, it’ll be hard to beat this price!
Check out the listing at 130 Hicks St. #LD, listed by Omarli Layne of Douglas Elliman.
