Sponsor co-op of the week

A three-bedroom co-op with Prospect Park views for $1,195,000, no board approval required

The living space is open to a center island in front of a modern kitchen.

Streeteasy

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2019
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Welcome to Brick Underground’s sponsor apartment pick of the week, where we feature a co-op for sale by the owner of the building. You do not need board approval to buy these apartments, they are often newly renovated, and they typically require a down payment of only 10 percent, versus the 20 to 25 percent that most co-ops demand. In exchange for the condo-like ease of acquisition, expect to pay a bit more than a regular co-op, but considerably less than a condo. For more information, check out "Everything you ever wanted to know about sponsor apartments but were afraid to ask."

This three-bedroom co-op, 163 Ocean Ave., #6G, in Prospect Lefferts Gardens, is on the market for $1,195,000, which is considerably lower than the median asking price for three-bedroom apartments in the area, currently $1,297,000, according to StreetEasy. The monthly maintenance fee is $742.

It’s located in a prewar six-story building with two elevators and a total of 84 apartments. Amenities in the pet-friendly building include a live-in super, laundry room, bike room, and a garden courtyard. There are top-floor views of Prospect Park from the 1,200-square-foot apartment’s many windows. 

The third bedroom with French doors can also be used as an office or entertainment room. 

The apartment has wide-plank wood floors.

The kitchen features stainless steel appliances including a Bertazzoni stove.

 There’s space for a breakfast nook or dining table in the kitchen.

The master bathroom features an en suite bathroom and lots of closet space.

Prospect Park is essentially your backyard and Imagination Playground is just across the street. If you walk in the opposite direction from your front door, you’ll find lots of restaurants and stores along Flatbush Avenue, including Bonafini, Scoops Ice Cream Parlor, and Record City, where you can buy, sell, and trade vinyl records.
 
For transportation, the area is served by the B and Q lines, making the commute into Manhattan just under 30 minutes.