Families and young professionals often flock to Park Slope for all the great things it has to offer: easy access to Manhattan, a short walk to Prospect Park, and beautiful, brownstone-lined streets. But the sticker price on Park Slope apartments is not as easy to fall for. Never fear, our Deal of the Week is here: 488 3rd St. #3B is a Park Slope 1BR with a masterfully renovated kitchen and closet space to spare.
The Price: $550,000
The median price for a 1-bedroom apartment in Park Slope is $625,000, which puts our Deal of the Week at a cool $75K below the median asking price for the neighborhood.
Buyers who pay the 20 percent minimum down payment of $110,000 can expect to see monthly payments of about $2,713. This includes a mortgage payment of roughly $2,159 and a maintenance fee of $554 — on the low end for most NYC co-ops.
Why You’ll Love It …
The entrance to the apartment has a large closet to one side, and the bathroom on the other. Like many parts of the unit, the bath has been recently renovated; it includes an extra-wide mirrored cabinet for storage and hexagonal tiles on both the floor and shower walls.
The kitchen and living area flow into one another, carrying the same parquet flooring throughout. The living room is outfitted with one wall of exposed brick and has two tall windows that flood the space with light. There’s also plenty of room for a couch and entertainment set.
White subway tile covers the kitchen walls, in addition to white custom-milled cabinetry that offers plenty of storage space and takes full advantage of the 10.5-foot-high ceilings. Not only does the kitchen feature a dishwasher, but it also has a 50-bottle wine refrigerator. And to separate it from the living room, there’s a gorgeous, custom-made walnut breakfast bar.
The home’s third window is in the bedroom, which also has a sizable closet — not always a given in NYC apartments.
As far as location goes, it doesn’t get more quintessentially Park Slope than this: The apartment is on the third floor of a brownstone, and that brownstone is located on a street filled with other beautiful brownstones.
The co-op is pet-friendly and has a live-in super, basement storage for each shareholder, bicycle storage and central laundry (no laundromat trips necessary here!). The F and G trains are closest, but the R, 2, 3, B and Q are also within easy walking distance. Also in walking distance? Prospect Park, plus plenty of great restaurants, cafes and bars.
… And Why You Might Not
Of course, not everything is perfect. For starters, this apartment is on the third floor of a walk-up building. Secondly, it might be a tad on the smaller side, especially for those who want a full dining set or plenty of bedroom furniture. And of course, there are only windows on one side of the apartment, meaning you won’t find any in the bathroom or in the kitchen proper.
But for a Park Slope true 1-bed at a great price, this one is hard to beat.
Check out the listing at 488 3rd St. #3B, listed by Marc Karavasian of Compass.
More Park Slope Sales Under $600K Article continues below
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