Back to the "Stash Spot": 560 State Street, #7D

As 2BR condos go, it doesn't get more centrally located than 560 State Street.  Made famous by Jay-Z's song "Empire State of Mind", where he raps, "Took it my stash spot, 560 State Street".  The Jigga-Man's own former 2BR unit listed for $870K a few months ago and just closed for $930K.  So it's no wonder that another 2BR in the building is hitting the market this week for that same price, this time 560 State Street, #7D with its first open house this Saturday afternoon.  Now that the Barclays Center is here across the street, seen here out the window of the master bedroom...

...the neighborhood is a far cry from what it was in those days.  Young Hova's view don't come as cheap as it used to.

Located at the apex of the top brownstone Brooklyn neighborhoods of Park Slope, Fort Greene, Boerum Hill, and Prospect Heights - the condo game over here is no joke.  These particular condos are an interesting blend - one part brownstone, one part mews, and one part new development.  Located directly across the street from 1 Hanson Place, where condos have surpassed $3M at times...

And one door down from the typical rowhouse look of the rest of Boerum Hill's State Street, where fixer upper townhomes have gone over $3M...

You walk up the front entrance of 560 State Street into this huge common courtyard with benches, two grills & a fridge, and gas-lit lamps attached to red brick fronts to all the apartments around the courtyard...

 

This unit #7D is a 2 bedroom & 1 bath laid out on one floor, rather than some of the other duplexes in the building.  It's got 9 windows facing south east onto 4th Avenue and Atlantic Avenue.

Considering the proximity to the street, the apartment is surprisingly quiet with its double-pane windows.  And Cousin John says installing triple-pane windows or other solutions is pretty affordable too.  The apartment's in totally turnkey condition...

 

 

We've seen condos go for more undergoing renovations to personalize the finishes, but this one's totally good to go out the box as well.  New heat & A/C unit and a new water heater were installed about 2 years ago.  With a kid & grown-up friendly courtyard, affordable monthly costs, and a tax abatement available for owner-occupants, this is a great alternative to condos with higher maintenance in the Toren or 1 Hanson going for much higher than this.  Rental income potential at 560 State Street is over $3,500/month these days too.  If you want to be in prime Brooklyn, don't want a 1BR, and don't have well over a million for a fixer-upper townhouse... the 2BR under a million becomes appealing again.

Pro's:  centrally located turnkey 2 bedroom with low monthly costs, close to all top neighborhoods & transportation, sunny with 9 windows to the south and east, huge common courtyard with grills, kid-friendly building, preferable layout to the duplexes in the building, townhouse feel makes it more than just a bland condo

Con's:  2nd bedroom is smaller, finishes are generic and commodity grade in some people's book, no additional half-bath

Ideally:  a prime slice of Brooklyn under a million.  Easy to mosey on over after brunch or the Brooklyn Flea on Saturday to take a look-see.