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A blog from CityRealty (Links below will take you to the 6sqft site)

550 Vanderbilt Avenue, #1516

$769,000 ($1,705 per ft2) -2% | Studio, 1 bath | Approx. 451 ft2
259 days on Market

Key Details

  • Listed: Oct 11, 2021
    Last Price Change: -2% ($16,000) on Jun 6
    Days on Market: 259
    Building Type: Condominium
    Neighborhood: Prospect Heights (Brooklyn)
    Doorman: FT Doorman
    Listing viewed 496 times
Monthly Common Charges: $596
Monthly Real Estate Taxes: $16
Total Taxes & Fees: $612 ($1.36/ft2)
Est. Monthly Mortgage: $3,547
Total Est. Monthly Carrying Cost: $4,159 ($9.22/ft2)
Note: the above is based on a down payment of 20% ($153,800), which is the minimum amount permitted by the building.

Description

NEW reduced price. Motivated seller. Better than renting.

25yrs 421-A TAX ABATEMENT!! First resale of one of the most-coveted studio lines at 550 Vanderbilt Avenue. Residence 1516 is a designer home on a high floor with open Western views. This home offers floor to ceiling windows looking at the expansive views of Brooklyn skyline, downtown Manhattan and Statue of Liberty.

This chic and modern designer home has an open loft-like space with soaring 10ft ceilings highlighted by white-washed, wide-plank oak floors throughout. This beautiful home has space for a living room, sleeping area, office overlooking the open views with incredible sunsets. The open Chef’s kitchen includes top-of-the-line Miele appliances, vented hood, garbage disposal, white Carrera marble countertops and backsplash.

The custom gray lacquer cabinets with walnut shelving accents offers plenty of storage. The spa like bathroom has subway tiles, walnut vanity and chrome fixtures. Custom designer blinds and curtains, walk-in closet and in-unit washer/dryer completes this home.

Pacific Park (Brooklyn’s newest neighborhood), will have over 8 acres of lush green space once completed. This building offers 10,000sqft of amenities to all residents: a 24-hour concierge, fitness center, lounge with catering kitchen, playroom, a library, pet grooming station, and a landscaped roof terrace with expansive views of the city, skyline and neighboring brownstones. Rooftop has a unique communal garden and BBQ for dinner parties.

Transportation: express and local trains C, B, Q, 2, 3 are just 3-5 minutes away. In additional all the trains available at the nearby Barclay Center: 4, 5, B, D, N, Q, R and W, and the LIRR for weekends to Fire Island and the Hamptons. Top restaurants such as Olmstead and numerous cafes are on Vanderbilt Ave including Brooklyn Museum and Prospect Park.

Best of all, this building offers a rare 25-year 421-A tax abatement until 2043. Taxes are only ~$17/month! Ideal for investment and 1031 exchange, easy to rent out.

And for homeowners, cheaper than paying rent. Developed by Forest City Ratner Companies and Greenland USA, 550 Vanderbilt and Pacific Park will not just redefine luxury living, they will reform upscale lifestyles as we know them. In all, Pacific Park will encompass 8 million square feet of residential, retail, commercial, and entertainment destinations.

Welcome home to Brooklyn’s most vibrant and exciting new neighborhood.

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Apartment Amenities

  • Western Exposures
  • Washer/Dryer in apt.

Listing Agent (Seller's Representative)

Similar Apartments Nearby

 

Pricing History

Show more

About 550 Vanderbilt Avenue

83

550 Vanderbilt Avenue has received a CityRealty Rating of 83, based on:

 
Architecture

Anything above 30 is remarkable, from 20-29 is distinguished and from 11-19 is average, while below 11 is below average.

 
Location

Anything above 27 is remarkable, from 18-26 is distinguished and from 9-17 is average, while below 9 is below average.

 
Features

Anything above 22 is remarkable, from 16-21 is distinguished and from 9-15 is average, while below 9 is below average.

Rating Summary

31
Out of 44
+
26
Out of 36
+
17
Out of 39
+
9
=
83
Out of 119
 

Architecture Rating: Points Breakdown

Exterior:
Distinguished 6 out of 8 points
Retail Quality:
High-End 5 out of 5 points
Canopy Entrance:
No Canopy 1 out of 3 points
Alterations:
None 2 out of 2 points
Plaza Or Atrium:
None 0 out of 3 points
Contextual Design:
No, but Very Good 3 out of 3 points
Skyline:
Highly Visible 2 out of 2 points
Local Visibility:
Highly Visible 2 out of 2 points
Watertank:
Attractively Enclosed 2 out of 2 points
Airconditioners:
Not Allowed 2 out of 2 points
Free Standing:
Free Standing 2 out of 2 points
Gargoyles:
None 0 out of 2 points
Garden:
Attractive 2 out of 2 points
Fenestration:
Consistent 1 out of 1 points
Landmark:
No 0 out of 2 points
Unity:
Unified Design 1 out of 1 points
Illumination:
None 0 out of 1 points
Water Element:
None 0 out of 1 points

Location Rating: Points Breakdown

Street Ambience:
Very Attractive with Trees 4 out of 5 points
Distance To Neighborhood Center:
Less than 10 blocks 5 out of 5 points
Views:
Impressive 3 out of 4 points
Neighborhood Ambience:
Very Attractive 3 out of 3 points
Traffic Noise:
Considerable 1 out of 3 points
Protected Views:
Only Top Floors 1 out of 2 points
Distance To Subway:
Less than 3 Short Blocks 2 out of 2 points
Firedepartment Noise:
A Lot 0 out of 2 points
Distance To Supermarket:
3-5 Short Blocks 1 out of 2 points
Distance To Park:
Less Than 3 Short Blocks 2 out of 2 points
Distance To Water:
More than 6 Short Blocks 0 out of 2 points
Shopping:
5 or less Short Blocks 2 out of 2 points
Schools:
No Noise 1 out of 1 points
Noise From Nightlife:
None 1 out of 1 points

Features Rating: Points Breakdown

Lobby:
Spacious 4 out of 5 points
Units Per Floor:
More than 15 0 out of 5 points
Ceiling:
9-11 Feet 2 out of 4 points
Balconies:
None 0 out of 3 points
Health Club:
Yes 1 out of 2 points
Private Gardens:
Substantial 2 out of 2 points
Storage Rooms:
Minimal 1 out of 2 points
Bay Windows:
Some 1 out of 1 points
Fireplaces:
None 0 out of 1 points
Door Person:
Yes 1 out of 1 points
Concierge:
Yes 1 out of 1 points
Elevator Person:
None 0 out of 1 points
Recreational Roof:
Yes 1 out of 1 points
Driveway:
None 0 out of 1 points
Maids Room:
None 0 out of 1 points
Catering:
None 0 out of 1 points
Garage:
Yes 1 out of 1 points
Mixed Use:
No 0 out of 1 points
Non Rectilinear Form:
No 0 out of 1 points
Unusual Layouts:
No 0 out of 1 points
Prewar:
No 0 out of 1 points
Other Amenities:
Many 2 out of 2 points
  • Condo
  • Built in 2017
  • 278 Apartments
  • 17 Floors

Building Amenities

  • Attended Lobby
  • Concierge
  • FT Doorman
  • High-Rise
  • Post War
  • Resident Storage
  • Garden
  • Rooftop Terrace
  • Washer/Dryer in building
  • Elevator
  • Mail Room
  • Children's Playroom
  • Lounge
  • Fitness Center
  • Rooftop Terrace
  • On-Site Parking
  • Outdoor Entertainment Space
  • Courtyard
  • Laundry Room
  • Bike Room
  • Game Room
  • LEED Accreditation
  • Library
  • Live-In Superintendent
  • Pet Grooming / Pet Services
  • Terraces / Balconies

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Pros
  • Sidewalk landscaping
  • Library
  • Fitness center
  • Part of huge project with more than 6
  • 400 apartments planned
  • Near public transportation
  • Near Barclays Center
  • Near the Brooklyn Academy of Music
  • Roof terrace
  • Bicycle room
  • Live-in superintendent
  • Garage
  • Adjacent to new park
  • Close to Subway
Cons
  • Many apartments
  • Considerable traffic
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Subways

  1. C
at Clinton Ave and Fulton Ave 0.24 miles
  1. B
  2. Q
at Flatbush Ave and Park Pl 0.31 miles
  1. 2
  2. 3
at Flatbush Ave 0.36 miles

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