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388 Prospect Avenue, Brooklyn (Park Slope), NY, 11215 | $3,150,000
This 4, 309-square-foot, 5-family residence at 388 Prospect Avenue, built in 1931, spans 25 feet by 60 feet on an 80-foot lot along Prospect Avenue, nestled between 7th and 8th Avenues in the heart of South Slope. This property is ideal for converting into premium condos within a highly coveted location, offering an array of possible configurations.
Enjoy lofty ceilings on the three upper floors (9'8 - 9'11"), in addition to the windowed basement level, which has been excavated for added height of 7'3". An existing sprinkler system enhances safety and convenience. Embrace the quintessential Brownstone Brooklyn lifestyle with effortless access to the vibrant shopping, dining, and transit hubs of Prospect Park West, all a short stroll away. Just minutes on foot, Prospect Park serves as a tranquil oasis, offering a serene retreat from urban life.
The neighborhood also boasts a strong sense of community with local events, farmers' markets, and cultural festivals. For those who commute, multiple subway lines and bus routes are conveniently nearby, providing seamless connectivity to the rest of Brooklyn and Manhattan. With a blend of urban convenience and suburban tranquility, 388 Prospect Avenue is an ideal place to live and invest.
Features
- Town: Brooklyn
- Amenities: Sprinkler System;
- Rooms: 25
- Bedrooms: 10
- Baths: 5 full / 1 half
- Year Built: 1931
- Cooling: Unknown Type
- Building Access : Walk-up
- Service Level: None
- Built Size: 25'x60'
- OLR#: 0096447
- Days on Market: 159 days
- Website: https://www.raveis.com
/prop/0096447/388prospectavenue_brooklyn_ny?source=qrflyer
All information is intended only for the Registrant’s personal, non-commercial use. This information is not verified for authenticity or accuracy and is not guaranteed and may not reflect all real estate activity in the market. RLS Data display by William Raveis Real Estate, Inc.Listing courtesy of Garfield Realty
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888.699.8876
Contact@raveis.com
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Sarah AlvarezVP, Mortgage Banker, William Raveis Mortgage, LLC
NMLS Mortgage Loan Originator ID 1880936
347.223.0992
Sarah.Alvarez@Raveis.com
Our Executive Mortgage Banker:
- Is available to meet with you in our office, your home or office, evenings or weekends
- Offers you pre-approval in minutes!
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Robert ReadeRegional SVP Insurance Sales, William Raveis Insurance
860.690.5052
Robert.Reade@raveis.com
Our Insurance Division:
- Will Provide a home insurance quote within 24 hours
- Offers full-service coverage such as Homeowner's, Auto, Life, Renter's, Flood and Valuable Items
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Encompass, Travelers, Fireman's Fund, Middleoak Mutual, One Beacon and American Reliable
388 Prospect Avenue, Brooklyn (Park Slope), NY, 11215
$3,150,000
Customer Service
William Raveis Real Estate
Phone: 888.699.8876
Contact@raveis.com
Sarah Alvarez
VP, Mortgage Banker
William Raveis Mortgage, LLC
Phone: 347.223.0992
Sarah.Alvarez@Raveis.com
NMLS Mortgage Loan Originator ID 1880936
|
5/6 (30 Yr) Adjustable Rate Jumbo* |
30 Year Fixed-Rate Jumbo |
15 Year Fixed-Rate Jumbo |
|
|---|---|---|---|
| Loan Amount | $2,520,000 | $2,520,000 | $2,520,000 |
| Term | 360 months | 360 months | 180 months |
| Initial Interest Rate** | 5.500% | 6.375% | 5.875% |
| Interest Rate based on Index + Margin | 8.125% | ||
| Annual Percentage Rate | 6.821% | 6.474% | 6.036% |
| Monthly Tax Payment | N/A | N/A | N/A |
| H/O Insurance Payment | $125 | $125 | $125 |
| Initial Principal & Interest Pmt | $14,308 | $15,722 | $21,095 |
| Total Monthly Payment | $14,433 | $15,847 | $21,220 |
* The Initial Interest Rate and Initial Principal & Interest Payment are fixed for the first and adjust every six months thereafter for the remainder of the loan term. The Interest Rate and annual percentage rate may increase after consummation. The Index for this product is the SOFR. The margin for this adjustable rate mortgage may vary with your unique credit history, and terms of your loan.
** Mortgage Rates are subject to change, loan amount and product restrictions and may not be available for your specific transaction at commitment or closing. Rates, and the margin for adjustable rate mortgages [if applicable], are subject to change without prior notice.
The rates and Annual Percentage Rate (APR) cited above may be only samples for the purpose of calculating payments and are based upon the following assumptions: minimum credit score of 740, 20% down payment (e.g. $20,000 down on a $100,000 purchase price), $1,950 in finance charges, and 30 days prepaid interest, 1 point, 30 day rate lock. The rates and APR will vary depending upon your unique credit history and the terms of your loan, e.g. the actual down payment percentages, points and fees for your transaction. Property taxes and homeowner's insurance are estimates and subject to change.
William Raveis Mortgage, LLC, NMLS ID 2630, 7 Trap Falls Road, Shelton, CT 06484
NY Licensed Mortgage Banker-NYS Banking Department LMBC 106535