The Edgewood

The Edgewood is a Co-op located 488 Ocean Parkway, in Kensington, Brooklyn. The building was first built in 1958 and is 66 years old. The lot that the building was built on is 80 feet wide and 150 feet long. The official lot area is listed as 12,000 square feet. The building itself is 80 feet wide and 100 feet long. In total, 488 Ocean Parkway has a total floor area of 43,116 square feet. Of that, 43,116 square feet are used for residential purposes. There are a total of 49 units. Of those, 49 are residential units. 488 Ocean Parkway has a total of 6 floors. Thankfully, the building is equipped with elevator service.

Interested in learning more about the building? There are many great amenities and features for residents in the building. For your convenience, laundry is located in the building. Love to bike? Store your bike in the building's bike storage rather than your own apartment. If you drive, rest assured! The building has its own garage, which would come in super-handy for parking! Residents who own pets will be happy to hear that the building is pet-friendly. Both dogs and cats are allowed in the building! There are 45 closings on record, of which we have matching data for 15 listings. In the past 3 years, a listing in this building will typically remain on the market for about 168 days and tend to sell below the original asking price of $400,000 by 27.42%. Meaning, listings tend to sell at a median of $497 price per square foot. The transaction that took the longest to complete was unit 6F, listed on Sep 07, 2021 for $385,000. This particular unit ultimately sold 331 days later for $380,000. The most recent transaction was for unit 3C, which was first advertised on Aug 19, 2022, sold for $415,000 on Feb 23, 2023. Fun fact, the oldest transaction we have on record took place on Jan 14, 1966. See the full transaction history for The Edgewood below.

Kensington, where 488 Ocean Parkway is located, has a median asking price of $410,000 for co-op buildings. Meanwhile, the building itself has a median asking price of $400,000. For interested buyers, that means the building's median asking price is around 0.02% below the neighborhood's median asking price for co-ops. Which is great news as a buyer may end up finding some relatively affordable units in this building compared to other co-op buildings in the neighborhood.

There is currently one active listing for sale within the building and our inventory of available units for sale is constantly updating in real time. Check back frequently for updates. The asking price for the only active sales listing is $399,000. It is a 850 sqft 1-bedroom and 1-bathroom unit.