Even though we’re shifting to a buyer’s market, prices in Brooklyn continue to increase, which still makes finding a good deal a challenge. But more inventory is being added each week and some great apartments are popping up. Take 1062 Bergen St. #1D, for instance. Our Deal of the Week is a completely renovated 2-bedroom in Crown Heights for under $500K.

The Price: $499,000

According to the latest StreetEasy Market Report, the median asking price for an apartment in Crown Heights was $999,000 as of November. That puts our Deal of the Week at less than half the median asking price for the neighborhood.

Buyers who pay the minimum down payment of 20 percent ($99,800) can expect to see monthly payments of around $2,527. This includes a mortgage payment of $2,001, common charges of $347, and monthly taxes of $179.

Why You’ll Love It…

First of all, this is a true 2-bedroom apartment, meaning both bedrooms have a window and a closet. The bedrooms are also located on opposite ends of the apartment, with the living and dining area and bathroom in between.

Everything in the apartment has been meticulously renovated, while keeping design and convenience in mind. The kitchen features custom, dual-toned cabinetry and all new stainless steel appliances, including a dishwasher. There’s also an LG washer-dryer combo in the kitchen.

The bathroom has also been updated with modern finishes, such as the hexagonal white tiling on the wall, sleek gray tile floors, and a spacious shower/tub combo. All the rooms in the apartment have beautiful hardwood floors, in addition to plenty of windows and closets.

The apartment is located on the first floor of a barrel-front townhouse, situated on a classic Brooklyn street lined with trees and brownstones. Extra storage is available in the building, as is a common laundry room. The location is also great. It’s within walking distance of the Brooklyn Museum, Prospect Park, and Brooklyn Botanic Garden. Transportation-wise, the A and C are a short walk away, as is a stop on the LIRR.

… And Why You Might Not

At under 500 square feet, this apartment is not exactly spacious. The furniture in the living room and kitchen area will have to be carefully selected and placed to maximize space and convenience. Also, there are no policies in place for subletting, pied-à-terres and co-purchasing. But for those looking for a great Brooklyn 2-bedroom at a stellar price, this could be perfect.

Check out the listing at 1062 Bergen St. #1D, listed by Allison Dubuisson, Justin McMahon, and Jessica Peters of Douglas Elliman.