Some of Brooklyn’s best neighborhoods surround Prospect Park, the borough’s equivalent of Central Park. Prices in these neighborhoods, especially Park Slope, tend to be high. But fear not: you can still find great deals in this coveted area of Brooklyn, such as Windsor Terrace – often seen as a more affordable alternative to Park Slope. Our Deal of the Week is 140 E. 2nd St. #5N, a Windsor Terrace one-bedroom apartment with a bonus room that could be used as a dining room, home office, or fitness space.

Price $525,000
Space 1 bed, 1 bath
Neighborhood Windsor Terrace
Borough Brooklyn

Get to know our Deal of the Week.

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The Price: $525,000

The median asking price for a home in Windsor Terrace was $1.3 million this September, according to the StreetEasy Data Dashboard. That means our Deal of the Week is priced at under half the median asking price for the neighborhood!

Buyers who put down the 10% minimum down payment of $52,500 can expect to see monthly payments of $3,761. This includes a mortgage payment of $3,036 and a maintenance fee of $725 – not bad by New York City standards.

Why You’ll Love It…

Measuring in at 775 square feet, this apartment has plenty of space and uses it well. The corner unit has a formal foyer, a king-sized bedroom, an eat-in kitchen, and four closets. Upon entry, you’ll find built-in bookshelves, beautiful arched doorways, and gorgeous hardwood floors. The living room is right by the kitchen and has more than enough space for a large sectional couch.

The kitchen has all the essentials including upper and lower cabinets, a large sink, and a full-size oven and range. Beyond the kitchen is a separate room that can be used as a dining space, home office, home fitness area, or whatever the buyer wants it to be. West-facing windows let great light into this bonus room, and south-facing windows keep the bedroom bright as well. The bathroom also has a south-facing window.

One of the main perks of this unit is its flexibility. If you wanted to add another bedroom, you could turn the bonus room into one or divide the living room, as seen on the listing’s alternate floor plans.

Even with low monthlies, this co-op building offers quite a lot of amenities to its residents. Inside, you’ll find two elevators, a common laundry room, bike storage, a recording studio, and a children’s playroom. Outside, residents can enjoy a common backyard and garden. Plus, the building is just a quarter mile from the F and G trains and a few blocks from Prospect Park.

…And Why You Might Not

The kitchen is definitely on the smaller side and doesn’t include a dishwasher. If a large kitchen is important to you, you could potentially extend it into the bonus room. The bathroom is also slightly outdated. However, with so much space at such a good price, the rest of the apartment surely makes up for it.

Check out the listing at 140 E. 2nd St. #5N, listed by Amy Martinez-Miller of Compass.