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Why is This Crown Heights Two-Bedroom Only $285,000?

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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: $285,000
Address: 1062 Bergen Street #2A
Size: 2BR/1BA, 583 sq. ft.
Monthly Fees: $289

We'll start with the negatives: this apartment, despite having two bedrooms, is not large, and the walls are painted three objectively unpleasant shades of orange, yellow, and brown. That said, how is it asking only $285,000 in a neighborhood where the median price for a 2BR, according to Streeteasy, is $690,000? (Put another way, it's asking $488/square foot when the median for the neighborhood is $789/square foot.) Also considering that it has a tax abatement until 2016, it really can't be that expensive to repaint.

· Listing: 1062 Bergen Street #2A [Fillmore]
· The Six Digit Club archives [Curbed]