A Clinton Hill two bedroom for $845,000, no board approval required

By Donna M. Airoldi | September 14, 2018 - 9:00AM

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 Clinton Hill two-bedroom sponsor co-op, 451 Clinton Ave., #4A, saw its price drop a couple weeks ago by $35,000, bringing the asking price to $845,000, which is just slightly north of the median for a two bedroom in the neighborhood, per StreetEasy.

The gut-renovated apartment has recessed lights with dimmers, but its northwest-facing windows in the living room and bedroom allow in plenty of natural light during the day.

The kitchen has been opened up and outfitted with Bertazzoni appliances, white Shaker-style cabinets, ivory Caesarstone, a wine fridge, a subway-tile backsplash, and an island that according to the floorplan can seat up to four. There appears to be enough space in the living room open toward the column, which faces the kitchen, to fit a dining table.

The bedrooms are on either side of the kitchen. The description claims the master bedroom can fit a king-sized bed, and it comes with a new built-in closet. The second bedroom is a bit narrow at just under 8 feet, but it looks to have a relatively spacious closet. There’s just one other closet in the apartment, next to the entry.

The bathroom includes a southeast-facing window, and is all white.

The building features a courtyard, basement laundry room, live-in super, and elevator. No dogs are allowed. Maintenance is $888 per month.

For an additional $100,000, you could also buy a parking space in a garage on the premises. It can also be used for storage.

The C train at the Clinton-Washington Avenue station is just a bit over a block away. The Clinton-Washington Avenue G station is two blocks north. Plenty of shops, restaurants, and bars line nearby Fulton Street, and Atlantic Avenue is just one more block south.

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

Buy Pros and cons of buying a sponsor unit

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

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