This two-bedroom sponsor unit co-op in Prospect Heights could be a gem

By Nathan Tempey | August 14, 2017 - 3:00PM

This two-bedroom one-bath in a prewar co-op in Prospect Heights is a sponsor unit (so no co-op interview required!), and despite that significant selling point, doesn't seem to be significantly marked up. Renovated, it includes wood floors, plentiful cabinets, a kitchen island, and recessed lighting. Part of a 15-unit co-op built in 1912, the listing by Compass also says that part-time residents and guarantors are allowed, and that the building is pet-friendly.

The address, 415 Saint Johns Place, puts the apartment two blocks from the Brooklyn Museum and the 2/3/4 stop there, three blocks from Prospect Park, and steps from the bustling commercial strip on Washington Avenue (RIP Islands). It's also around a 12-minute walk to the Seventh Avenue B/Q stop. The zoned public school, PS 9, gets four out of five stars from Greatschools.org users.

The building is advertised as having a roof deck, laundry, bike storage, a live-in super, and basement storage "coming soon." At $825,000, it's pricey, but on par with or even slightly lower than other comparable listings in the neighborhood. Similar units in the building went for just half this price back in 2005, but that was before the Barclays Center and the mass opening of cocktail bars nearby.

For our full guide to buying sponsor apartments, click here.

A sponsor co-op unit at 311 East 25th St #6A.

Co-ops Buying a co-op sponsor unit means you don't need board approval, but you'll likely pay a premium

Troubleshooting Ask an Expert: We want to buy a co-op as a pied a terre. What does it take to get approved?

The Market Ask an Expert: What should we watch out for when buying a sponsor-renovated apartment?

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