Median asking prices in Park Slope typically sit above those of greater Brooklyn, only surpassed by neighborhoods like DUMBO and Carroll Gardens. But there are still lots of great units to be found in Park Slope for well below average prices — just take a look at 198 8th Ave. #4F. Our Deal of the Week is a 1-bedroom apartment just one block from Prospect Park, complete with an updated kitchen and gorgeous living room.
Learn more about our Deal of the Week!
The Price: $495,000
The median asking price for a home in Park Slope was $1.9 million this August, according to the StreetEasy Data Dashboard. That puts our Deal of the Week at about a quarter of the median asking price for the neighborhood!
Buyers who put down a 20% down payment of $99,000 can expect to see monthly payments of $3,398. This includes a mortgage payment of $2,576 and a maintenance fee of $822, which is fairly low by New York City co-op standards. Plus, monthly payments are well below the median asking rent in Park Slope, which sat at $4,350 in August.
Why You’ll Love It…
Enter this unit through a small foyer complete with a large closet and entrances to the bedroom and bathroom. From the entryway you’ll find the gorgeous living room, which features a ceiling fan and a bay window with a large window seat. This spot is the perfect place to read a book, get some work done, or relax with friends. The room is anchored by a decorative fireplace with ornate woodwork, beautiful tiling, and a built-in mirror.
The fireplace isn’t the only bit of original charm you’ll find in the unit. The original parquet hardwood floors bring a great vintage vibe, as do the window moldings and baseboards. But the unit has been updated where it matters most, including in the kitchen. The nook-like room is decked out in white subway tile backsplash and sleek cabinetry. Stainless steel appliances include a full-size fridge and oven with a range.
The bathroom also has new updates, including a vanity with storage and a white-tiled shower/tub combo. Additionally, the bedroom has room for a queen-sized bed and has a window facing the block’s many trees.
The location of the building is absolutely stellar, found along a brownstone-lined street just one block from Prospect Park with proximity to the Brooklyn Museum, Brooklyn Public Library Central Branch, and Grand Army Plaza. There are plenty of great restaurants nearby, too, including One More Charm, Chela, Burger Village, and Scottadito Osteria Toscana. Inside the building, you’ll have access to a laundry room, a bike room, and additional storage. Plus, the building is pet-friendly!
…And Why You Might Not
Unfortunately, this unit is on the fourth floor of a walk-up building. The unit only has one proper closet, located in the entryway right outside the bedroom. Thankfully, there’s additional storage in the basement, but you may need to get creative with in-unit storage solutions if one closet isn’t enough. But if you’re in the market for a 1-bedroom under $500K close to Prospect Park, you’re come to the right place!
Check out the listing at 198 8th Ave. #4F, listed by Macie Barnes of Prevu Real Estate, LLC.
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