Sunday, March 11, 2012

The $700K Condo Game: 89 Dean Street, #2

We've chased a few of the $700K 2BR condos around the outskirts of the best neighborhoods before, but this one is in a location that's way more prime. In Boerum Hill, around the corner from the F train at Bergen Street, comes 89 Dean Street, #2. Just off of Smith Street, this brownstone might look a little gnarly on the outside, and the common hallway space inside doesn't help either, but it makes for a great condo in a great location with really low fees. You can find monthly fees on condos and co-ops this size running from $500/month to as high as $1,500/month. $150/month is comparatively nothing.

We were surprised to see when the garden apartment in this building listed for $699K in a more depressed market in 2009 and quickly fetched $650K. In today's market, the apartment above listing for the same price sounds like a steal. This is, in our opinion, the hands-down best condo for sale right now for this price in Brooklyn.

With dinky rentals over here fetching upwards of $3,000/month, a place that could cost less than that a month to own is pretty compelling. You get a little exposed brick, a wood burning fireplace, a washer/dryer in a closet in the unit, and 2 legit bedrooms that do the trick. When the weather's nice enough to have your windows up, you can hear the sweet sounds of live music coming from Bar Tabac faintly humming across the corner a few doors down. If you think there's a better condo in town, please tell us!

Pro's: location, renovated, 2 legit bedrooms, condo (not a co-op), no absurd maintenance charges

Con's: grimey common space, right next to school yard with children screaming bloody murder all day

Ideally: get it while you still can.

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