Here’s an attractive, affordable prewar studio in Park Slope one block from Prospect Park — but there’s a catch. The deal must be all cash.
Located on the fifth floor of a seven-story elevator co-op, No. 51 at 300 8th Avenue offers prewar details and charm in a compact floor plan perhaps best suited for a pied-à-terre, which the building allows. The main living area has three windows, picture-frame moldings, a coved ceiling and classical proportions. There is just enough room for the basics — a couch/bed, table and dresser — without overwhelming the petite space.
The kitchenette has a three-burner stovetop, microwave, sink and under-counter fridge. The bathroom is lined in white subway tile and has a small tub, going by old floor plans. There are two closets, including a coat closet in the entry hall, and a double-width clothes closet in the main living space.
Built circa 1920, the 95-unit building has a fanciful Gothic/Medieval style exterior of red brick with limestone details. The entrance surround is ornate, as is the lobby ceiling. The building has a live-in super and laundry, and the maintenance is $630 a month.
As for the all-cash requirement, the listing doesn’t go into details, but a look at the rental history suggests shares are concentrated among a small number of shareholders. “This building is financially solid, but this unit will not qualify for financing, so this purchase must be ALL CASH,” according to the listing.
A similar apartment on the same floor, No. 5H, a sponsor unit, sold in May for $201,786, according to public records. This apartment is asking $255,000, listed by Garfield Realty. What do you think?
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