The StreetEasy listing for this Park Slope co-op speaks the truth: “Own for less than renting.” After the down payment, your mortgage would likely be less than $2,500 per month for this lovely 1-bedroom — below the median rent for Park Slope. At that price, even the biggest commitment-phobe might consider taking a step toward maturity and becoming a homeowner. Would you? Let’s check it out.
The Price
Listed for $499,000, this 1-bedroom offers a good deal in one of Brooklyn’s nicest neighborhoods. After 20 percent down, a mortgage would come to an estimated $2,457 per month, plus the monthly fees of $551. So you’d still technically pay more than the cost of a mid-priced rental — but hey, you’d own the thing. No more being at the mercy of a landlord.
Why You’ll Love It
This 1-bedroom is set up just right for solo living, with a comfortable living space, an airy separate bedroom, and a small but efficient kitchen. (And let’s not kid, you’d still be ordering in most nights — buying a home doesn’t mean you’re mature enough to cook.)
The place is in mint condition, so there’s no need to update. The kitchen has been redone with stainless steel appliances, and the floors are shiny and refinished. Smart details include built-in bookshelves, a tile backsplash, and a pantry organized by Elfa. The clean look of the place is balanced with the historic character of all those moldings.
When it comes to Park Slope addresses, you couldn’t ask for a better one. Located in a four-story brownstone at 846 President St., the apartment is in that sweet spot between Seventh and Eighth avenues just a block and a half from Prospect Park.
And Why You Might Not
The efficiency of this apartment is its saving grace, but there’s no getting around the fact that it’s small. Measuring just 410 square feet, it won’t fit a lot of people or furniture. Worth noting is that there is no sofa in the listing images. The bathroom also looks like it will require some choreography to maneuver in and out of the shower. To our eyes, this apartment is best suited for single occupancy.
If you study at the images, you’ll notice an electric guitar and two keyboards, underscoring the bachelor-pad vibes of the place. Perhaps the current owner is leaving to take the next big life step — cohabitation.
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