While 2018 is predicted to benefit the renter, the dream of owning a home in Brooklyn can be yours with this 1-bedroom condo in Crown Heights. Located at 601 Crown St. in the heart of one of Brooklyn’s best and most budget-friendly neighborhoods, this apartment has a solid layout and a homey feel, making this our deal of the week.
The Price: $475,000
Crown Heights has recently seen a proliferation of new construction and new residents, which have substantially driven up prices across the neighborhood. The current median sales price is $832K, which is 75 percent more than the asking price of this condo.
Listed for $475K, this condo is one of the best deals in the neighborhood. With a 10 percent down payment ($47,500), you would be looking at a monthly payment of $2,679, which includes your mortgage ($2,048), common charges ($516) and low monthly taxes ($115).
Compare that monthly payment to the current median asking rent in Crown Heights, which is $2,395. And, rents are rising. Imagine never having to deal with your landlord raising your rent or getting priced out of a great spot. Exactly.
Why You’ll Love It
In addition to the low down payment, this apartment is ready to move in, requiring no additional work on your end.
The place has all the things you’d want from a first apartment including a recent renovation, good light, new appliances and solid closet space. Originally built in 1922, the building has a classic New York City apartment vibe, but was recently converted into condominiums and received a thorough gut-renovation. As a result, the apartment blends charming prewar details with shiny floors, recessed lighting, new finishes and an overall modern feel.
At four stories tall, the building offers that small, boutique condominium vibe. And since there are 27 units you don’t have to worry about it being too intimate.
Located on Crown Street in between Troy and Albany Avenues, the apartment is within walking distance from the 3/4 stop at Utica Avenue. Given the layout and address, this apartment is a great choice for buyers who want an easy place to settle down in Central Brooklyn.
And Why You Might Not
The building faces a parking lot. Depending on how you look at it, that could mean you have lousy views or you don’t have other buildings blocking your sunlight. Either way, the curb appeal of the building may disappoint some potential buyers.
The apartment is solidly in central Crown Heights, which translates to a long commute into Manhattan. That said, if you hustle over to the 3/4 stop at Utica Avenue, Google Maps says you can be in Union Square in 45 minutes. Whether the MTA will always pull through for you, however, is a crap shoot.
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