Condo/Co-op of the Day

Park Slope Prewar Fixer-Upper With Built-ins, Moldings, French Doors Asks $550K

This co-op apartment is going to need more than a lick of paint to get it into shape, but a buyer would have the benefit of skipping the board interview process.

by Susan De Vries

11/17/2020 4 minute 0

This co-op apartment is going to need more than a lick of paint to get it into shape, but a buyer would have the benefit of skipping the board interview process. Full of original details, it’s located within walking distance of Prospect Park, at 160 Lincoln Place.

Unlike its neighbors on the block, the four-story apartment building set within the Park Slope Historic District dates to the 20th century, not the 19th. Designed by architect William C. Winters, the red brick building with stone trim was completed in 1922. There’s a bit of classical detailing with a keystoned door surround and lintels on some upper windows, mixed with some brick patterning of diamonds and arches and a bracketed eave overhang. It was built at an estimated cost of $40,000, according to the I-card, to house 12 families, with three apartments per floor.

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There are still 12 apartments in the building and this sponsor unit sits on the third floor. It’s a one-bedroom but it has a flex dining room/bedroom that could turn the apartment into a two-bedroom if needed. The living room and dining room are at the front of the apartment, separated by French doors, while the bedroom is at the rear. As noted, it’s a fixer-upper with wood floors in need of a refinish — and likely electrical upgrading and skim coating plaster on the to-do list as well. But there are original wall moldings, picture rails and even what appear to be some 1920s sconces intact. Dipping the French doors and removing the paint from the glass would add a nice aesthetic touch.

The windowed kitchen is also fairly original, but with a scrape and paint of the cabinets, including the intact glass-fronted uppers, and some new appliances it could be brought up to date. The listing photos don’t show the flooring so that should likely be added to the work list. The same goes for the bathroom, where the tile floor isn’t shown but if the rest of the space is any indication, the room could use a deep clean and some regrouting at a minimum. While there’s laundry in the building, in-unit washer/dryers are permitted, something to keep in mind for a remodel.

It’s a self-managed building that’s pet friendly and has storage and a bike room in addition to the aforementioned laundry room. The maintenance for this unit is $1,045. Since it is a sponsor unit, no board interview is required.

The apartment is listed with Joanna Mayfield Marks of Brown Harris Stevens for $550,000. Do you think it’s a good deal?

[Listing: 160 Lincoln Place #3A | Broker: Brown Harris Stevens] GMAP