It’s no wonder that Prospect Heights was selected as one of our neighborhoods to watch this year. It has beautiful homes, great restaurants, the Brooklyn Museum and of course, Prospect Park. Our Deal of the Week is a 2-bedroom co-op at 394 Lincoln Pl. #D3 for $795,000. It’s located just a block away from the park and has charm and convenience to spare. Let’s take a closer look.
The Price: $795,000
The median recorded sales price for Prospect Heights is $1,540,000, according to the latest StreetEasy Market Reports. That puts our Deal of the Week at just around half of the average price of closed sales in the neighborhood.
Buyers who pay the minimum 20% down payment of $159,000 can expect to see monthly payments of around $3,889. This includes a mortgage payment of $3,014 and a monthly maintenance fee of $875.
Why You’ll Love It…
For starters, this apartment was recently renovated and it shows. The original parquet floors and inlays have been nicely restored and the walls and finishes are pristine. Additionally, this is a true 2-bedroom apartment, meaning that each bedroom has both a closet and a window. And both bedrooms are fairly sizable and located on opposite ends of the apartment for privacy. The master bedroom has a nicely textured wall of whitewashed brick and is large enough for a double bed and two night stands. Plus, there’s a stackable washer and dryer in a closet within the master. The second bedroom is also spacious and can easily fit a bed, desk and bureau with room for much more.
This apartment has a great layout, with two large closets within the roomy foyer. The kitchen has stainless-steel appliances, quartz counter tops, a breakfast bar and is open to the living room. The bathroom has dark slate floors that contrast with the white subway tile.
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Location-wise, this place is a home run. The apartment sits just one block away from the Brooklyn Museum and Prospect Park. Grand Army Plaza and the Brooklyn Botanic Garden are also right nearby. The S, 2, 3, 4, and 5 trains are all an easy walk, too, providing easy access to Manhattan.
Building amenities include additional storage, a bike room, and there’s a pet-friendly policy. Plus, subletting is allowed.
… And Why You Might Not
This apartment building doesn’t have an elevator, meaning you’re walking up to what we presume to be the third floor. For those with an aversion to stairs, this could be a deal-breaker. Plus, there are no mentions of pied-à-terre use or co-purchasing, meaning desired usage could be limited. But, there are many other boxes that do get checked with this place, as seen by the rising number of saves on StreetEasy.
Interested? Check out the apartment at 394 Lincoln Pl. #D3, by Greg Mire of Compass.
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