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The neighborhood analysis site NeighborhoodX rounded up the 10 most affordable properties for sale in a Brooklyn neighborhood that's gotten attention for its affordability: Sunset Park.
The analysis only looked at market-rate properties, excluding foreclosures, short sales and properties with rent-controlled tenants in place. Pricing ranges from $299,000 up to $580,000. For some context, the median sales price in the neighborhood is $453,000, according to StreetEasy. Price per square foot on the 10 properties ranged between $415 and went up to $753.
Constantine A. Valhouli, Director of Research for NeighborhoodX, said the two lowest-priced properties (both asking $299,000) should be considered outliers, each in their own way. "One requires an all-cash transaction, thus forcing a discount," he said. "The other is a basement condo, and basement spaces command less per square foot than do properties that are above-grade." With that in mind, here's the breakdown of all ten units, from the most affordable to least.
Address: 420 44th Street, #5
Price: $299,000
Size: Two bedrooms, one bathroom, 750 square feet
Price per square foot: $415
Details: This co-op unit is an outlier because "it's priced at a discount because it can only be purchased on an all-cash basis," said Valhouli. There are no photos available for the unit, which is located in a 1940s brick building.
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Address: 4606 6th Avenue #B2
Price: $299,000
Size: One bedroom, one bathroom, 439 square feet
Price per square foot: $681
Details: This co-op comes with a low maintenance of $227 a month. But there's a major drawback, that being the basement locale.
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Address: 360 43rd Street, #1A
Price: $399,000
Size: One bedroom, one bathroom
Details: A condo "featuring brand new wood flooring in the bedroom, spacious, updated bath with shower stall, all new kitchen appliances, recessed lighting and a separate rec room in the basement with additional cable hookup and plenty of outlets." There's nine years remaining on the 421-a tax abatement as of July 1st, 2017.
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Address: 647 41st Street
Price: $400,000
Size: One bedroom, one bathroom, 550 square feet
Price per square foot: $727
Details: A co-op with low maintenance at $330 per month. From the listing: "South facing one bedroom one bath coop in a self-managed, financially sound sixty-nine unit building. This nicely proportioned first floor apartment has views of Sunset Park from both rooms and landscaped courtyard from the kitchen and bathroom."
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Address: 4612 6th Avenue, #10
Price: $418,888
Size: Two bedrooms, one bathroom
Details: A two-bedroom co-op with views of the water, but it's a fourth floor walkup. "Featuring: good size living room, modern and windowed eat-in kitchen and bathroom, hardwood floors, amazing NY Harbor view from master bedroom, good closet space, intercom," the listing says.
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Address: 672 46th Street, #2C
Price: $425,000
Size: Two bedrooms, one bathroom
Details: A co-op on the second floor of a sixteen-unit, pet friendly building. "A long front hallway flows into a generous living space," the listing says. "A windowed eat-in kitchen is ideal for the aspiring chef, while the adjacent living and dining rooms offer tremendous flexibility of use."
Address: 420 64th Street, #2E
Price: $480,000
Size: One bedroom, one bathroom
Details: The listing says of this one-bedroom condo: "Living room is very spacious as well as a spacious bedroom. Big windows let in plenty of sunlight. Hardwood floors throughout." But there are no interior photos to check out.
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Address: 856 43rd Street, #12
Price: $520,000
Size: Two bedrooms, one bathroom, 850 square feet
Price per square foot: $611
Details: A third-floor co-op that was "gutted and refinished about 9 years ago with modernized electrical; re-plastered walls; open living/dining area; handcrafted woodwork, molding and built-ins; and an in-unit washer/dryer." There are some prewar details like hardwood flooring and the original French doors.
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Address: 637 41st Street #1B
Price: $550,000
Size: Two bedrooms, one bathroom, 730 square feet
Price per square foot: $753
Details: This first floor co-op, from a 69-unit building, comes with park views and a $440 a month maintenance charge. The kitchen has been renovated but prewar details like the original parquet floors with mahogany inlays, and french doors with brass and crystal handles, remain.
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Address: 856 43rd Street #16
Price: $580,000
Size: Three bedrooms, one bathroom
Details: This co-op is located on the fourth floor of the brick building, two blocks from Sunset Park. The building comes with storage, a live-In super and laundry room.
- Sunset Park: most affordable (Sep. 2017) [NeighborhoodX]
- All Sunset Park coverage [Curbed]
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