488 Ocean Parkway, #3B, Brooklyn, NY, 11218 | $400,000

Welcome to this bright and well-proportioned one-bedroom apartment located on the 3rd floor of a well-maintained elevator building in prime Ocean Parkway. Offering approximately 750 square feet of comfortable living space, this thoughtfully designed residence features a smart, functional layout with excellent flow—ideal for both everyday living and working from home. A welcoming foyer with a convenient coat closet opens into a sun-filled living area, enhanced by hardwood floors and abundant natural light throughout. The kitchen offers generous cabinet space, providing excellent storage and functionality. Just off the kitchen, a dedicated dining room creates a comfortable and separate space for meals and entertaining, adding to the home’s overall practicality and flow. Building amenities include: Pied-à-terre friendly In-building laundry Secure bike storage Live-in superintendent Flexible subletting policy Garage parking available via waitlist Additional storage (waitlisted, $40/month) Multiple Closets throughout the apartment This pet-friendly (cats only) building features strong financials, high owner occupancy, and no current assessments, offering peace of mind for buyers. Located along prime Ocean Parkway, the building offers easy access to Prospect Park, nearby cafes and restaurants, and convenient transportation via the F, G, B, and Q trains—making commuting to Manhattan straightforward and efficient. Looking ahead, the neighborhood is also expected to benefit from the proposed Interborough Express (IBX), with a planned stop nearby that may further enhance cross-borough connectivity once completed. A rare combination of space, condition, and location—this well-appointed one-bedroom is not to be missed.

Features

  • Parking: Garage, Waitlist
  • Heating: None
  • Cooling: None
  • Levels: 6
  • Rooms: 4
  • Bedrooms: 1
  • Baths: 1 full
  • Laundry: Common Area
  • Year Built: 1958
  • Approx Sq. Feet: 750
  • Elem. School: Ps 179 Kensington
  • Middle School: Jhs 62 Ditmas
  • High School: Franklin Delano Roosevelt High School
  • School District: Community District 20
  • Pet Policy: Cats OK
  • Appliances: Dishwasher
  • MLS#: 1010594
  • Days on Market: 8 days
  • Website: https://www.raveis.com
    /prop/1010594/488oceanparkway_brooklyn_ny?source=qrflyer
Listing information has been assembled from various sources of varying degrees of reliability. Any information critical to the buying decision should be independently verified.

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Brian ValentiSales Associate

203.687.6634

Brian.Valenti@raveis.com

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Liz EckmanVP, Mortgage Banker, William Raveis Mortgage, LLC

NMLS Mortgage Loan Originator ID 1195194

203.858.7106

Liz.Eckman@raveis.com

Our Executive Mortgage Banker:

  • Is available to meet with you in our office, your home or office, evenings or weekends
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Alex FerroInsurance Sales Director, William Raveis Insurance

203.610.1536

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Our Insurance Division:

  • Will Provide a home insurance quote within 24 hours
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488 Ocean Parkway, #3B, Brooklyn, NY, 11218

$400,000

Brian Valenti

Sales Associate

William Raveis Real Estate

Phone: 203.687.6634

Brian.Valenti@raveis.com

Liz Eckman

VP, Mortgage Banker

William Raveis Mortgage, LLC

Phone: 203.858.7106

Liz.Eckman@raveis.com

NMLS Mortgage Loan Originator ID 1195194

5/6 (30 Yr)
Adjustable Rate Conforming*
30 Year
Fixed-Rate Conforming
15 Year
Fixed-Rate Conforming
Loan Amount $320,000 $320,000 $320,000
Term 360 months 360 months 180 months
Initial Interest Rate** 5.990% 6.375% 5.625%
Interest Rate based on Index + Margin 8.125%
Annual Percentage Rate 6.370% 6.512% 5.866%
Monthly Tax Payment N/A N/A N/A
H/O Insurance Payment $75 $75 $75
Initial Principal & Interest Pmt $1,917 $1,996 $2,636
Total Monthly Payment $1,992 $2,071 $2,711

* 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.