park slope 1br

Park Slope is overflowing with quintessential Brooklyn charm, full of tree-lined streets and beautiful brownstones. It’s pretty, and it has some pretty hefty price tags too, especially near Prospect Park. But even in great locations, there are still deals. Like our Deal of the Week: 527 Eighth St. #4C is a Park Slope 1BR less than a block from Prospect Park with lots of sun and storage space.

The Price: $499,000

The median asking price for a Park Slope 1BR is $720,000, which makes our Deal of the Week about 30 percent lower than the median price for the neighborhood.

Buyers who choose to put down the 20% minimum down payment of $99,800 can expect to see monthly payments of $2,559. This includes a mortgage payment of $1,906 and a maintenance fee of $653. All told, it’s almost exactly on par with the median rent for a 1-bedroom apartment in Park Slope, which is $2,650.

Why You’ll Love It…

When it comes to the perks of this Park Slope 1BR, the biggest is location, location, location. This gorgeous, tree-lined stretch of Eighth Street is often called one of the greenest blocks in Brooklyn, with the west side of Prospect Park less than a block away. The 1920 barrel-front building includes a laundry room, bike storage, and deeded private storage. And it’s pet-friendly, which is perfect for a home that’s tantalizingly close to the park’s popular “dog beach.”

You enter the sun-filled space through a long hallway with a large closet. The bedroom also has a sleek custom closet and can be accessed via a hallway door or through lovely French doors in the living room. When open, they make the space feel big and airy. One step up from the living room, the windowed kitchen has tons of cabinet and counter space, as well as room for a table that could be used for eat-in dining or for food prep. There’s old school crown molding and baseboards throughout, plus beautiful inlaid hardwood floors.

Brooklyn 1BRs Under $700K on StreetEasy Article continues below

… And Why You Might Not

Sadly, this apartment is three flights up in a walk-up building. And the bedroom’s window is set into an awkward nook, too small for furniture, that seems to block the light from reaching the rest of the room. But if you’re looking for a great deal on a prewar Park Slope 1BR, make sure to check out the video walkthrough on the listing.

Check out the listing at 527 Eighth St. #4C, listed by Justin Edelstein of Douglas Elliman.

Whether you’re looking to rent or to buy, find your next NYC apartment on StreetEasy.