$745,000
Updated 3 years ago
Off Market

507 President Street, 3-R

Gowanus, Brooklyn | Nevins Street & 3rd Ave

3 Rooms1 Bed1 BathCo-op

$745,000
Maintenance$475

Listing Features

  • Corner Apartment
  • Entry Foyer
  • Floor-Through
  • Hardwood Floors
  • Open Space
  • Railroad
  • Recessed Lighting
  • Refinished Floors
  • Walk-in Closet
  • Washer / Dryer
  • Dishwasher
  • Eat-in Kitchen
  • Microwave
  • Open Kitchen
  • S Steel Appliances
  • Stall Shower

Outdoor space and views

  • Treeline Views
  • North Exposure
  • South Exposure

Building Amenities

  • Voice Intercom
  • Storage

Policies

  • Pets Allowed

Property Description for 507 President Street, 3-R

Elegantly renovated, with compellingly low monthlies, this beautifully renovated floor-through has Northern and Southern exposures designed to maximize the day-long natural light. The north exposure treats you to a tranquil view of the co-op’s leafy common garden, while the south exposure has tree top views and overlooks a quiet, single-block street. Every inch of the apartment has been thoughtfully upgraded. Sophisticated recessed lighting added throughout, along with new oak floors finished with tung oil. The open chef’s kitchen features a Bertazzoni stove and hood, 2 under-the-counter Summit fridges and freezers, and a Miele washer. The long quartz countertop ensures there’s plenty of work space, along with abundant cabinets for storage. Currently, the apartment is configured as one inviting, open space - but simply by adding a wall, you can easily transform it to a true 1-bedroom with room for a king size bed and an additional space that can be used as a home office, guest room, or nursery. In addition to the plentiful storage space within, the residence comes with a private storage in the basement. 507-509 President Street is an eight-unit, self-managed co-op building. Owners share a fantastic back garden complete with a dining table and grill, perfect for outdoor gatherings. In addition to a generous storage area in the basement, there’s a common bike storage and an exercise area. The co-op’s HDFC regulatory agreement has expired, but the board has maintained high income caps on purchases to ensure valuable DAMP tax benefits and keep the common charges low. The co-op allows co-purchasing, parents buying for children and pied-a-terres. Living in Gowanus offers performance venues, restaurants, shops, bars, parks, and cafes. 507-509 President Street is located right next to Dolly’s Park, a delightful community garden, and just three blocks from the flagship Whole Foods in Brooklyn. BAM, Brooklyn Public Library, Brooklyn Museum, Barclay’s Center, Grand Army Plaza, and Prospect Park are also moments away. Transportation is a breeze with the R train just one block away at Union, and one stop from Atlantic Barclays, where you can access B/D/N/Q/R/2/3/4/5 trains. *This co-op has a flip tax paid by the seller of 5% if sold after less than 3 years of ownership, 2% if sold after 3-5 years of ownership, and no flip tax after more than 5 years of ownership.

Listing History for 507 President Street, 3-R

Now
12/21/2023
TOM by Carolina Chia
Compass
09/07/2023
Back on the Market by Carolina Chia
Compass

Building Details for 507 President Street

OwnershipCo-op
Building TypeTownhouse
Service LevelVoice Intercom
AgePre-War
AccessWalk-up
Year Built1900
Financing Allowed90%
Floors/Apts4/8
Learn More About the Building

Transit and Citi Bike

Subway

Union St
0.17 miles
Carroll St
0.49 miles

Citi Bike

3 Ave & Carroll St
0.07 miles
Degraw St & 3 Ave
0.14 miles

Contact Agents

Contact Agents

Gowanus | Brooklyn

Quick Profile

Gowanus is a colorful neighborhood with an industrial aesthetic, tree-lined streets, historic structures, as well as luxury condos and rental buildings. It has a great art scene, fantastic eateries and bars and a 1.8-mile canal that snakes through most of the neighborhood. The variety of elements make it a desirable place to live.  

The neighborhood is on the crest of a major change due to a recently passed rezoning plan that will allow more residential construction. Especially around the Gowanus Canal where construction was once prohibited. The plan will bring new jobs, affordable housing, and create a neighborhood with walkable green spaces and amenities. It’s safe to say that change is coming to Gowanus.  

Gowanus is bounded by Hoyt Street to the west, 4th Avenue to the east, Warren Street, Baltic Street and Wycoff Street to the north, and Gowanus Expressway to the south.

The neighborhood is named after Gouwane, a chief in the Canarsie Indian tribe. His name, according to the history books, translates to “the sleeper.” Other historic accounts say that the Gowanus name comes from the Dutch word gouwee, which translates to the word bay. Based on early New York History surrounding Dutch settlers and native tribes, both accounts seem plausible. 

Gowanus began development as far back as the 1630s when the Dutch arrived. They began building farms and soon realized the marshy lands they settled were not the best for growing crops and farming. They began damming up certain areas of the land with hopes of creating better soil and powering their windmills. This was the beginning of the formation of the Gowanus canal.

The natural estuary was once brimming with oysters and fish. But in the 1800s, the canal was turned into an industrial and transportation waterway. In the mid 1900’s, industrial factories like manufactured gas plants, paper mills, and other businesses opened along the canal and casually polluted the water. It’s cleanup efforts have come a long way but there is still much work to be done. 

The newly approved Gowanus rezoning plan has caused lots of buzz this year. Mayor Bill DeBlasio's plan will rezone 82 blocks which will pave the way for an estimated 8,500 new apartments, 3,000 of which would be offered to low and moderate-income New Yorkers. The plan includes major improvements to the local infrastructure. Although the rezoning plan might not create a housing boom today or tomorrow, proponents say the rezoning sets the stage for major growth in Gowanus in the decades to come.

The F, G, D, N, R, and W subway lines service the Gowanus neighborhood.

All information furnished regarding property for sale, rental or financing is from sources deemed reliable, but no warranty or representation is made as to the accuracy thereof and same is submitted subject to errors, omissions, change of price, rental or other conditions, prior sale, lease or financing or withdrawal without notice. All dimensions are approximate. For exact dimensions, you must hire your own architect or engineer.
OLR ID: 1818508