Coop in Brooklyn, NY - Bedrooms: 1 - Bathrooms: 1 - Area: N/A - Year Built: 1950 - Lot: N/A

Listing Agent: Cordelia Cordelia Stephens Brokerage: Compass

Welcome to 5G, a spacious one bedroom in the heart of Brooklyn Heights, in an elegant mid-century co-op. This is a unique opportunity to buy a perfect primary residence or pied-a-terre at a very low cost due to the co-op's land lease which expires in 2043. Enjoy the flexibility to sublet at any time for as long as you want, and ALL utilities are covered in maintenance. The large, light-filled living room faces southwest with street and skyline views, and room for a dining area by the corner window. The floors are the original parquet, and there is a window a/c. The separate, windowed kitchen and appliances need renovation. The bedroom has a lovely southern exposure, a window a/c and can easily accommodate a queen-sized bed. There are four closets in the unit- a walk-in coat closet, a linen closet and two closets in the bedroom. Electric, heat, hot water and cooking gas are included in the maintenance Wait-listed storage, and bike storage, can be found in the basement is available for an additional fee. The co-op employs a live-in super, a porter, and a doorman whose hours are Monday through Friday 9am- 5pm Pet-friendly to cats and dogs Subletting is allowed with board approval as soon as you become shareholder, and for as many years as you want. Bright and newly renovated laundry room Verizon FIOS is available Two elevators Wheelchair accessible Permits trust purchases, co-purchases, gifts, and pied-a-terres. No LLCs. First Capital Assessment : $196.40 per month ending on June 1st, 2031 Second Capital Assessment: Year 1 $89 per month from April 2026 Year 2 $179 per month month from April 2027 Year 3 $268 per month month from April 2028 Year 4 $357 per month month from April 2029 Year 5 $447 per month month from April 2030 (ends March 2031) The total of the 2nd assessment is $16, 020 The co-op's land lease expires in December 2043 and is reason the apartment is priced so far under-market for a typical one bedroom. There is no right to live there beyond 2043 once the land lease expires. The relatively short term of ownership offered may limit financing options. The Brooklyn Heights Promenade is two blocks away and the stunning Brooklyn Bridge Park is also very close. Enjoy outdoor dining opportunities on Montague Street and bustling Atlantic Avenue, and the convenience of local gourmet food stores and supermarkets. Your local trains are the 2/3, A/C, R, F, 4/5 and you can use the East River Ferry at Atlantic Ave or Dumbo. Let's do this!