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, two-and-a-half bath sponsor co-op, 19 Grace Court, #2A in Brooklyn Heights, is on the market for $1,999,000—well below the neighborhood’s median for similar-sized apartments, which is currently $2,950,000, according to StreetEasy.
The monthly maintenance is $2,349, which is quite steep considering the only building amenities are a live-in super, laundry room (the apartment also has an washer/dryer), and storage (you have to pay extra). But, you’re getting a lot of space for the price with eight rooms, so it could be worth it.
The 1926 building has 33 units across six stories. The floor plan shows five bedrooms, but two of the five are not large enough to be considered legal bedrooms. But, the rooms do have windows and could be used as a home office and playroom.
Apartment 2A has been on the market for 170 days (and counting). It’s on the second floor and the BQE is nearby, so if you're interested, be sure to open the window and see how noisy it is.
The contemporary kitchen features stainless steel appliances, quartz countertops, and a breakfast bar.
The three larger bedrooms have multiple closets and south-facing windows.
The apartment is an eight-minute walk to the R and W trains at the Court Street station. The Brooklyn Heights Promenade is a six-minute walk away. Local eateries include Colonie, The Brooklyn Cat Cafe, and Lantern for Thai cuisine.
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