5 Cove Lane

5 Cove Lane is a condo located in Georgetown, Brooklyn. The building was first built in 1993 and is 31 years old. The lot that the building was built on is 164 feet wide and 62 feet long. The official lot area is listed as 24,593 square feet. The building itself is 53 feet wide and 168 feet long. In total, 5 Cove Lane has a total floor area of 35,488 square feet. Of that, 32,568 square feet are used for residential purposes. About 2,920 square feet of the building are used for commercial purposes. Additionally, the building has a 2,920 square feet garage. There are a total of 40 units. Of those, 24 are residential units. There are 16 commercial units. 5 Cove Lane has a total of 4 floors.

Interested in learning more about the building? There are many great amenities and features for residents in the building. Separately, the building has a pool! Which is great those who want low-impact workout or those with children! There are 44 closings on record, of which we have matching data for 1 listings. In the past 3 years, a listing in this building will typically remain on the market for about 77 days and tend to sell below the original asking price of $665,000 by 4.21%. Meaning, listings tend to sell at a median of $415 price per square foot. The transaction that took the longest to complete was unit 31, listed on Apr 06, 2023 for $689,000. This particular unit ultimately sold 77 days later for $660,000. The most recent transaction was for unit 31, which was first advertised on Apr 06, 2023, sold for $660,000 on Jun 23, 2023. Fun fact, the oldest transaction we have on record took place on Sep 29, 1994. See the full transaction history for 5 Cove Lane below.

Georgetown, where 5 Cove Lane is located, has a median asking price of $569,000 for condo buildings. Meanwhile, the building itself has a median asking price of $665,000. For interested buyers, that means the building's median asking price is around 1.61% above the neighborhood's median asking price for condos. A buyer may therefore end up paying more for a unit in this building compared to other condo buildings in the neighborhood.

Unfortunately, there are currently no active listings within the building but our inventory of available units for sale is constantly updating in real time. Check back frequently for updates.