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 co-op, 163 Ocean Ave., #6G, in Prospect Lefferts Gardens, is on the market for $1,195,000, which is considerably lower than the median asking price for three-bedroom apartments in the area, currently $1,297,000, according to StreetEasy. The monthly maintenance fee is $742.
It’s located in a prewar six-story building with two elevators and a total of 84 apartments. Amenities in the pet-friendly building include a live-in super, laundry room, bike room, and a garden courtyard. There are top-floor views of Prospect Park from the 1,200-square-foot apartment’s many windows.
The third bedroom with French doors can also be used as an office or entertainment room.The apartment has wide-plank wood floors.The kitchen features stainless steel appliances including a Bertazzoni stove.There’s space for a breakfast nook or dining table in the kitchen.
The master bathroom features an en suite bathroom and lots of closet space.