A three bedroom next to Prospect Park for $1,395,000, no board approval required

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."

If one of your priorities is to have some outdoor space in the vicinity, this three-bedroom, two-bath co-op, 163 Ocean Ave., #B2, overlooking Brooklyn’s backyard and listed at $1,395,000. The prewar building in Prospect Lefferts Gardens has 84 apartments spanning six stories. The last three-bedroom apartment in the co-op building sold for $1,150,000 in September 2017.

Proximity to Prospect Park is a boon for dog owners and the building is pet-friendly with two elevators and maintenance of $900. Amenities include a live-in super, a laundry room, bike room, storage space, and a garden courtyard.

The kitchen has white Shaker-style cabinets, white subway tile backsplash, an island/breakfast bar with black granite countertops with a waterfall effect at each end, and stainless steel appliances. Wide plank flooring is laid throughout the living area.

The living room connects to the kitchen and is big enough for multiple couches.

There are two baths in the unit and the master bedroom has a narrow en-suite. 

All the bedrooms are big enough to accommodate king-size beds. The master has double closets.

There’s no layout supplied by the broker so it's hard to get a sense of how much closet space there is in the unit. There is a washer/dryer in the apartment and we're told additional building amenities are in the pipeline.

The co-op building is close to the Q, B, and S subway lines, making it an easy commute to Downtown Brooklyn and Manhattan, but beware the rumbling sound of the trains running underneath Ocean Ave. Check the soundproofing of the unit. It's worth noting the building has had some violations for general repairs in the past, including a leaking roof. 

You Might Also Like

Buy Brick Underground's best advice for figuring out the true cost of living in a co-op

The Market Sponsor co-op apartments: 3 good reasons to buy one

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