A 2-bedroom home in Brooklyn for well under $1 million seems like it should be easy enough to find. But as shoppers know, landing a cool, comfortable family home for a price in the mid-six figures can be a real challenge. Well, here’s a 2-bedroom co-op at 201 Clinton Ave. in Clinton Hill with a whole lot going for it: good bones, a great location, some unexpected bonuses, and price that makes it an easy pick for our Deal of the Week.
The Price: $685,000
StreetEasy’s latest market reports find that the lack of affordable homes and resulting competition have pushed sales prices in New York to new heights. This is especially true in Brooklyn, where the median sale price rose by 7 percent last year. In the lovely neighborhood of Clinton Hill, the median asking price is now $1,150,000. Sure, 2-bedrooms are a bit lower, with a median of $962,500, but that’s still far from affordable for most prospective buyers.
Given all that, a lovely 2-bedroom asking just $685,000 stands out. Buyers who put down 20 percent ($137,000) for this unit will see monthly payments of around $3,659. That’s more than the median $3,225 rent for a 2-bedroom in Clinton Hill, but not by much. And when factoring in all the features of this place, it would be hard to find a comparable rental.
Why You’ll Like It …
This apartment combines a location in laid-back Brooklyn with amenities and views more typical of Manhattan. The 15th floor might not be high by Manhattan standards, but in the brownstone-filled neighborhood of Clinton Hill, it means living pretty much on top of the world. The west-facing windows in this unit’s living room give unobstructed views of the Manhattan skyline and eight (yes, eight!) bridges, according to the listing.
The layout is comfortable, too, with a large living area, an eat-in kitchen and plenty of closet space throughout. Add to the mix some custom shelves — perfect for your vintage LP collection — and it’s quite a sweet setup.
The building is located in the heart of Clinton Hill, one of Brooklyn’s coolest neighborhoods. The area mixes an arty, academic atmosphere with beautiful housing stock, shady streets and locally owned shops and restaurants. Although the neighborhood is known for its brownstones, the Clinton Hill Co-ops offer a full suite of amenities: a full-time doorman, manicured lawns and gardens, a laundry room, a package room and additional storage.
… And Why You Might Not
While this co-op may help restore faith in the presence of affordable family homes in New York, it’s no magic bullet. The second bedroom is located off the main living room and is both small and not truly a bedroom, since it has no closet or source of natural light. Instead, a set of shutters offers exposure onto the main living area, meaning this space is probably best used as a nursery, office or guest room. The lack of a true second bedroom may preclude some buyers from setting down here indefinitely, but given that the building is open to sublets and pied-à-terres, it could still make a good long-term investment.
See the listing: 201 Clinton Ave. #15A, listed by Yuval Vidal and Esther Patten of Compass.
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