Sponsor co-op of the week

A renovated three bedroom in Prospect Heights for $1,495,000, no board approval required

Possibly a reconfigured classic six, the apartment has a spacious kitchen and living area.

Compass

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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 apartment, 61 Eastern Parkway #4D, in Brooklyn's Prospect Heights is on the market for $1,495,000. This is below the median sales price of $1,860,000 for similar-sized units in the area but in line with the last sale of a three-bedroom apartment in the building that went for $1,475,000 (which was below the asking price) in August last year. The apartment is newly renovated and the virtually staged photos show off its practical layout, high ceilings, and hardwood floors.

The apartment looks like a reconfigured classic six and has a washer/dryer tucked into a closet near the smaller of the two bathrooms. The prewar building is pet-friendly, has a full-time doorman and an elevator. Monthly maintenance is $1,064. 

The kitchen has plenty of countertop space as well as a dining bar. The Shaker cabinet and white subway tiles are a style that can work with most design aesthetics. It has stainless steel appliances, including a double-drawer dishwasher, stove, refrigerator, and microwave. 

The living room is open to the kitchen and dining areas. The unit has windows on both the south and north so there's plenty of light coming in. 

The bedrooms are at the far end of the apartment and there's a small bathroom, which they all share. There's a second, larger bathroom near the main entrance to the unit. 

All the bedrooms have built-in closet space. The second largest of the rooms has south-facing windows, possibly looking out onto an internal courtyard. 

The third bedroom is on the small side, with a width of eight feet but it is within the dimensions of a legal bedroom and has two slim storage closets either side of the south-facing window. 

Both bathrooms have small windows. The beveled subway tile mimics the look in the kitchen, pulling the unit together.

The building contains 39 apartments over four floors. It is a few minutes walk to the Eastern Parkway-Brooklyn Museum 2/3 train which is one of the stations slated to get accessibility upgrades in the next 12 months.

Located on the eastern side of Prospect Park, the building is close to the main branch of the Brooklyn Library. There are lots of arts, education and outdoor attractions in or near Prospect Heights including the Brooklyn Botanic Garden, Brooklyn Museum, Prospect Park, the Brooklyn Academy of Music, BRIC, and the Museum of Contemporary African Diasporan Arts.