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.<br><br>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.<br><br>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.
Property Details
Property Features
Property Information:
Architectural Style: Prewar, Walk-Up
Year Built: 1931
Living Area: 4,309 SqFt
Listing Office:
Office Name: Garfield Realty Corp
Office Phone: (718) 622-7600
Listing Agent: Elizabeth Kohen
Agent Phone: (718) 622-7600
Interior Features
Bedroom and Bathroom Information:
Partial Bathrooms: 1
Full Bathrooms: 5
Total Bedroom Count: 10
Price Information
Listing Price Info
Price Summary:
List Price: $3,150,000
Price Per SqFt: $731/SqFt
What can I afford?
Understand what home price range makes sense for your budget.
Housing Market Comparison
See how this home compares to others in New York, NY.
Listing information for certain New York City properties provided courtesy of the Real Estate Board ofNew York’s Residential Listing Service (the “RLS”). The information contained in this listing has not beenverified by the RLS and should be verified by the consumer. The listing information provided here is forthe consumer’s personal, non-commercial use. Retransmission, redistribution or copying of this listing information is strictly prohibited except in connection with a consumer's consideration of the purchase and/or sale of an individual property.
This listing information is not verified for authenticity or accuracy and is not guaranteed and may not reflect all real estate activity in the market. Data displayed may be a portion of, and not a complete set of all listings published in the MLS.
This advertisement does not suggest that the broker has a listing in this property or properties or that any property is currently available. Last updated on: 11/22/2024, 5:20:49 AM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.
Property Sales & Tax
We're sorry, we currently don't have sales or tax history data for this listing.
Payment Calculator
Calculate your estimated monthly expenses for this listing. Play with the values below to better understand your monthly payment and utilities.
$15.7K
Per Month
Principal & Interest
$15.7K
Home PriceThe dollar amount you pay for the home.
$
Interest RateMortgage interest rates fluctuate, but they're typically in the 5% to 9% range. Your rate will be calculated based on personal details including your credit score.
%
Down PaymentThe initial money paid at closing that is usually a percentage of the purchase price. Most loans require at least 3% down, but a 0% down payment may be possible if you're eligible for a VA or USDA loan.
$%
Loan TermThis is how long you'll pay on the loan. A longer term gives you smaller payments, while a shorter term saves you money on interest.
Property Taxes
$0
Property Taxes -Annual CostEvery homeowner pays taxes to their local government based on their home's value and the property tax rates for the county or city. Most areas charge property taxes semiannually.
$/ Year
Mortgage Insurance
$0
Mortgage Insurance -Monthly PremiumMortgage insurance helps secure a mortgage with a lower down payment. It typically costs 0.1% - 2% of your loan amount per year.
$/ Month
Homeowners Insurance
$67
Homeowners Insurance -Monthly PremiumMost homeowners pay about $1,000 a year for homeowners insurance, but the cost varies based on your location, home and coverage.
$/ Month
Homeowners Association (HOA)
$0
Homeowners Association -Monthly FeesHomeowners Association (HOA) fees can range from $30 per month to $500+ per month. Be sure to ask your agent about HOA fees on a home as it can impact your affordability or check the online home listing.
$/ Month
Utilities
$0
Utilities - Monthly CostYou'll need to budget for utilities as a homeowner, which typically includes water and sewer, gas and electric, internet and cable. Cost will depend on your location and the size of your home. On a monthly basis, Americans pay $239 - $442 per month.
$/ Month
Recommended Financing
30-Year Fixed
Rate/APR
7.5% / 6.68%
Total Monthly Payment
$9,510
Schools
Schools Nearby
The school rating is a score out of 10, where 10 is the highest and 1 is the lowest. Assigned schools have a bold outline.
We're sorry, we currently don't have assigned school data for this listing.
Nearby Schools
8
/10
Magnet School of Math, Science & Design Technology
511 7th Ave
Distance between this listing and this school0.05 miles
Public Magnet Grades KG-5
7
/10
P.S. 295 Brooklyn
330 18th St
Distance between this listing and this school0.14 miles
Public District Grades PK-5
9
/10
P.S. 107 John W. Kimball School
1301 8th Ave
Distance between this listing and this school0.27 miles
Public District Grades KG-5
Nearby Schools
8
/10
New Voices School of Academic and Creative Arts
330 18th St
Distance between this listing and this school0.14 miles
Public District Grades 6-8
6
/10
Jr High School 88 Peter Rouget
544 7th Ave
Distance between this listing and this school0.14 miles
Public District Grades 6-8
7
/10
Brooklyn Urban Garden Charter School
500 19th St
Distance between this listing and this school0.34 miles
Public Charter Grades 6-8
Nearby Schools
3
/10
John Jay School for Law
237 7th Ave
Distance between this listing and this school0.69 miles
Public District Grades 9-12
8
/10
Millennium Brooklyn High School
237 7th Ave
Distance between this listing and this school0.69 miles
Public District Grades 9-12
2
/10
Cyberarts Studio Academy
237 7th Ave
Distance between this listing and this school0.69 miles
The neighbors living near this home have an average income of $120,833. The majority of New York, NY residents have income between $100k-200k annually. The majority of families are single, no kids. Typical level of education for residents in this area is post secondary degree.
By checking this box and submitting your personal information, you agree to our Terms of Use and Privacy Policy. You also expressly consent to having Rocket Homes Real Estate LLC, its Family of Companies, Rocket Homes Network Partners, and potentially our mortgage partners contact you about your inquiry by text message or phone (including automatic telephone dialing system, AI voice, or an artificial or prerecorded voice) to the residential or cellular telephone number you have provided, even if that telephone number is on a corporate, state, or national Do Not Call Registry. You do not have to agree to receive such calls or messages as a condition of getting any services from Rocket Homes Real Estate, LLC or its partners. By communicating with us by phone, you consent to calls being recorded and monitored. You also agree that we can share your personal data and contact information with third parties such as mortgage partners, partner companies, and affiliates, and that these parties may use your personal data and contact information for marketing and analytic purposes, and to improve your experience.
This home is located at 388 Prospect Ave in New York City, NY and zip code 11215 in the South Brooklyn neighborhood. This 4,309 square foot home was built in 1931. Features: 10 bedrooms, 6 bathrooms. It has been listed on Rocket Homes since June 20, 2024 and is currently priced at $3,150,000.
In October 2024, from all listings sold in New York, NY there were more than 269 sold above asking price, over 833 sold below and more than 850 were sold right at the asked price. Between September 2024 and October 2024, New York, NY real estate market has seen increase in the number of listings by 1.8%. In October 2024 median list price was $856,124 and the average listing age was 84 days.
From Rocket Homes Real Estate and based on county public records data.
©2024 The Real Estate Board of New York, Inc., All rights reserved. Website powered by IHR Technology Services. 
Music Concerts
Music Concerts
Art Museums
Hiking/backpacking
H&M
Bloomingdales
Crate & Barrel
Chipotle
Starbucks
Boston Market
Volkswagen
Audi
Mercedes
Rhythmic Contemporary Hits
News