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A Convertible Brooklyn 1BR for $395,000, South of the Park

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Welcome back to The Six Digit Club, in which we take a look at a newish-to-market listing priced under $1 million, because nice things sometimes come in small packages. Send nominations to the tipline.

Price: $395,000
Address: 25 Parade Place #3K
Size: 1BR, 1BA
Maintenance: $612/month

South of Prospect Park sits this 1BR, 1BA?easily converted to a 2BR, claims the listing, and over 1000 square feet in size. Despite those two factors, the home failed to sell with a listing several months back for $425,000 and a PriceChop to $405,000. Now it's down to $395,000, not so far above its 2008 sale price of $380,000. So what's the fatal flaw here?

· Listing: 25 Parade Place [Brooklyn Properties]
· The Six-Digit Club archive [Curbed]