Milton Coste

Licensed Real Estate Associate Broker

(917) 416-7433

Under Contract – Backup offers may be accepted

488 OCEAN Parkway #5E
Interested in this property?
Pending For Sale Co-op

$499,000

$587 per sq ft

488 OCEAN Parkway #5E

Kensington, Brooklyn

The Edgewood

MLS® #RLS20070520

RLS at REBNY

Listing by Douglas Elliman Real Estate

2

Bedrooms

1

Bath

850

Sq. Ft.

1958

Year Built

Quick Summary

Bedrooms 2
Bathrooms 1
Living Area 850 sq ft
Year Built 1958
Ownership Co-op
Maintenance $762/mo
Parking Garage
Neighborhood Kensington
Floor 5 of 6

Property Highlights

  • Views: Other
  • Parking: Private garage

Property Details

Type Co-op
Ownership Stock Cooperative
Total Rooms 4
Baths 1 Full
Floor 5 of 6
View Other
Pets Yes
Year Built 1958
Living Area 850 sq ft
Parking Garage Available
Structure Type HighRise
Basement Other
Parcel # 05389-0041-00488-000-000005E
Block/Lot 05389/0041

Listing History

Event Date Price Change
Listed Feb 4, 2026 $499,000 -
Currently Jun 12, 2026 $499,000 -

Description

This converted 2 bedroom apartment with a smart layout is in excellent condition, with a large living room, a spacious bedroom, a smaller 2nd bedroom, a new kitchen with a separate windowed dining room and a large foyer. The kitchen is in great shape: with white shaker cabinets, stainless appliances including a dishwasher & microwave, abundant quartz counters and also features a window with ample natural light from the eastern exposure and subway backsplash. The kitchen has been opened up a bit for a more natural flow into the separate dining space that also has an eastern facing window. The apartment boasts impressive, high end built-ins made with antique, repurposed wood, including a state-of-the-art home office: forget about cluttered cables and take your productivity to a higher level. This high floor unit brings in plenty of natural light any time of day from its eastern and treetop western views. Layouts like this one are rare. The bathroom offers neutral finishes, with subway tile shower surround, reglazed tub, a new vanity and fixtures. The main bedroom showers in natural light and can fit a king-sized bed. The current owners added a tasteful wall of closets there, in addition to the two existing ones, for all of your storage needs. There are hardwood floors throughout, and the closet space can't be beat. The condition and cleanliness of this apartment are such that you can literally open the entrance door, bring in your furniture and start enjoying it from day one. It is truly a rare find. This well-maintained elevator building has strong financials and a high owner occupancy, live-in super, central laundry, bike room, additional storage (waitlisted), and a a waitlisted indoor garage. Location is unbeatable: Prime Kensington, with quick access to the ever changing shopping and dining landscapes of Cortelyou Corridor. Prospect Park is way within reach and you are minutes from Q train on Cortelyou Road, F train Ditmas Avenue stop, and Express Buses to Manhattan. This building is cat friendly, sorry no dogs (registered ESA and Service Animals are excluded from this restriction). Flip tax is $4.25 per share, paid by the seller. There are no assessments at this time. Don't be left behind: schedule your viewing today or visit the next open house.

Features & Amenities

Interior Features

Building Other

Exterior Features

Private Outdoor Space Over60 Sqft

Building Amenities

Bike Storage Elevators Storage

Building Information

Building The Edgewood
Building Data View Compliance & Permits
Total Units 50
Stories 6
Structure HighRise

Financial Details

Maintenance $762/mo

Kensington is a residential Brooklyn neighborhood bordered by Prospect Park to the north and the landmarked Green-Wood Cemetery to the west, with Ocean Parkway running through its center as one of the borough's signature tree-lined boulevards. The housing stock includes brick rowhouses, prewar co-op apartment buildings along Ocean Parkway and Coney Island Avenue, and detached Victorian homes on the side streets, served by the F and G trains at Fort Hamilton Parkway and Church Avenue. The B and Q express trains are accessible within a short walk, providing a 30-to-35-minute commute to Midtown Manhattan.

Kensington Live Market Data

View Neighborhood

Active Listings

49

Median Asking Price

$679K

Median $/Sqft

$792

Avg Days on Market

N/A

New This Week

4

Price Reduced

24%

Sold (30 Days)

5

Median Sale Price

$975K

Live data from RLS at REBNY • Updated 6/12/26, 4:13 AM EST

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Location

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488 OCEAN Parkway #5E, Kensington, Kings County

Floor Plans

Floor Plan 1

Building Information

Official NYC property records for this building

1958
Year Built
68 years old
6
Floors
49
Residential Units
R7A
Zoning District
Elevator Apartments

Tax & Assessment

Assessed Value: $1,432,350
Land Value: $297,000
Exemptions: $20,610

Note: Individual unit taxes may differ. Verify current tax bills with NYC DOF.

Lot Area: 12,000 SF
Building Area: 43,116 SF
Built FAR: 3.59
Allowed FAR: 4

Source: NYC PLUTO (Primary Land Use Tax Lot Output), NYC Department of City Planning (data.cityofnewyork.us)

Want help estimating ownership costs or understanding building compliance? Let's discuss

Frequently Asked Questions

Common questions about this property

The current listed monthly maintenance are $762 per month. Confirm the exact amount with the listing broker before making an offer.

This property has 2 bedrooms and 1 full bathroom.

The listed interior living area is 850 square feet. Verify dimensions independently during due diligence.

According to MLS records, the building was constructed in 1958, making it approximately 68 years old.

This listing is a co-op (stock cooperative). Buyers purchase shares in a corporation rather than real property, and the board must approve all sales.

Pets are permitted at this property: Upon approval,Building Pets Allowed Comments:Upon approval. Contact the listing broker for weight limits or breed restrictions.

At the current list price of $499,000 for 850 sq ft, the asking price per square foot is approximately $587. This figure is for reference only and may differ from appraised or assessed values.

To schedule a private showing, contact Milton Coste at (917) 416-7433 or [email protected]. Per REBNY guidelines effective 2025, a Buyer Representation Agreement is required before a buyer's broker can show you properties. You may attend open houses independently without one.

Have a question not answered here?

(917) 416-7433
MLS® ID: RLS20070520
First Listed: 2/5/2026
On Market: 2/4/2026
Price Changed: 2/5/2026
Pending Since: 3/20/2026
Contract Date: 2/4/2026

Listing Courtesy of Douglas Elliman Real Estate - Oleg Polonsky

Listing Contact: (646) 256-0899

Listing information for certain New York City properties provided courtesy of the Real Estate Board of New York's Residential Listing Service (the "RLS"). The information contained in this listing has not been verified by the RLS and should be verified by the consumer. The listing information provided here is for the 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. ©2026 The Real Estate Board of New York, Inc., all rights reserved. This advertisement does not suggest that the broker has a listing in this property or properties or that any property is currently available.

Broker Commission Disclosure: Broker commissions are not set by law and are fully negotiable.

Buyer Notice: Planning to work with a buyer's broker? A Buyer Representation Agreement is required before your broker can show you properties, per REBNY/UCBA guidelines (effective 2025). You may attend open houses independently without one.

RLS at REBNY

RLS Data display by Keller Williams NYC. Data last updated on 6/12/2026 at 8:13 AM UTC

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