According to New York City records, the median price for an apartment in Brooklyn in the month of January 2023 was $740,000.  The price represents a slight 2.6% drop from last year’s median of $760,000.  The number of sales for the month, however, dropped significantly, plunging from 697 to 349 representing a year-over-year decrease of 50%.

What exactly does $740,000 get you in Brooklyn?  Let’s take a closer look.

Apartment 2-G at One Prospect Park West in Park Slope, Brooklyn is an oversized studio in a newly converted pre-war located directly across from Prospect Park.  

One Prospect Park West is a timeless structure, radiant in its latest transformation as a modern condominium.  The building takes the best of its Golden Era roots and combines the finer elements of contemporary living.

Apartment 2-G is a gracious studio unit (609 square feet) with just about everything one could ask for in a studio space. There is a sleeping alcove, an entry foyer, a dressing area and a spacious walk-through kitchen.  Other features include high ceilings (12’6”), oversized windows, a walk-in-closet and washer/dryer connections.

And there’s more.  Original details have been preserved and reclaimed pinewood floors have been added.

Given the design of the apartment, the kitchen serves not only as a proper kitchen but as a graceful passageway to the living room.  Accordingly, the kitchen is artfully designed and elegantly serves both functions.  Custom cream colored lacquer cabinetry, honed marble countertops and backsplash, a white cast-iron sink as well as an integrated appliance package create a dignified setting. 

One Prospect Park West rises ten floors and contains 64 finely crafted residences.  There is a full-time concierge as well as a host of amenities.  Of course, the most gratifying indulgence is Prospect Park just outside the front door.  But if you want to stay on site, there are multiple indoor and outdoor amenities that will satisfy most whims. 

At $740,000, the apartment sold for $1215 per square foot.  

The Grand Army Plaza subway station, which services the 2 and 3 lines, is located at the corner of Plaza Street East and Flatbush Avenue.  This is about a 4 minute walk.Apartment 2-G at 1 Prospect Park West was first introduced to the market in September 2022 at $800,000.  Within three months, the residence was under contract. The $740,000 price represents a 7.5% drop from the original ask.  The building is being represented by the Douglas Elliman team of Patty LaRocco, Jared LaFrenais and Zia O’Hara.  Please visit Linecity for more details.