416 Ocean Ave

Sweeping residences with solid construction appointments and surprising adaptability

According to Harding, there’s a first-time homebuyer’s program at 416 Ocean Ave. backed by the local TD Bank, which offers a $10,000 credit. That said, prices have consistently gone up in this co-op and the surrounding area. Larger residences now sell for above the $1 million mark. “It’s a change not everyone approves of but one that’s inevitable,” Harding explains. “We’ve tried to keep the pricing fair and reflective of how much a unit has been updated or not. Transplants from Manhattan and other parts of the city have come in and totally decked out their units with high-end finishes and sleek appliances. There are also those that come on the market in dire need of tender loving care because the previous residents have lived in them since the building was converted into a co-op. The board is very renovation-friendly once plans are submitted and make sense. On the ground and top floors, it has let shareholders add central air and, in some cases, install drop ceilings. The current owner of unit 12 put in a gas fireplace. Some of these places are mind-blowing. The things people have done are spectacular.”

Even if there’s great variety here in terms of reconfigured layouts and other upgrades, the solid construction prewar architectural detailing remains intact. “Because the building was constructed with especially wide structural beams, most of the walls are not load-bearing which means they can be easily moved around. It’s an architect’s dream,” Harding says. On the market with him in winter 2025 for $650,000, unit 48 is a 1,250 square-foot home with a massive living/dining room and two bedrooms large enough to accommodate king-size frames. As is common in prewar buildings, closet space also abounds. One- and two-bedrooms range between $500,000 and $850,000 — depending on condition, size and position in the building. Two- and three-bedrooms — many with separate dining and living rooms, two bathrooms and multiple exposures — fetch upwards of $1.2 million. There’s one combined ground-floor maisonette with palatial scale. The residence incorporates a whopping 14 rooms within its 2,450 square feet of space. Also on this level, there’s a unit with a private entrance because it used to be a doctor’s office. While there are some in-unit washer/dryers that were grandfathered in before the building was converted, no new appliances can be installed. However, there’s a sizable laundry room in the basement with more than enough machines.

Distinct features and strategic improvements recently introduced

The building is very well maintained and not just cosmetically. As Harding notes: “The co-op has done something that homeowners and shareholders in other similar residences, constructed around the same time all over Park Slope, Prospect Heights and Crown Heights, everywhere really, will have to start taking into serious account in the coming years: the state of oft-overlooked structural components like roofing and HVAC.” Funded by recently concluded assessments, 416 Ocean Ave.’s roof was entirely replaced. “I’m not just talking about a membrane, I’m talking about a full tear-out intervention,” Harding expresses. The co-op also recently introduced an energy efficient electric boiler system and new gas lines.

“I tell people that buildings are like cars. If you don’t maintain them, change the oil, do this, do that, get a tune up, you’re going to be stuck on the side of the road,” he says “A lot of homeowners purchasing into these historical buildings are going to be stuck on the side of the road as they begin to incur the additional cost of blind-sighting assessments. It’s unfortunate that first-time buyers often only look at the location, appliances and price. They rarely really peel back the layers and assess what’s important but that’s what we’re here to help with.”

Two nearby outdoor markets and a sizable parking garage right next door

The southeastern entrance of Prospect Park is two blocks north. The small plaza here plays host to a weekly farmers market. Further into the expansive woodland and lawn-laden green space is the Smorgasburg market, held throughout the summer. Also in that direction, the LeFrak Center emerges as a state-of-the-art roller and ice-skating rink. Prospect Park’s car-free loop road is ideal for an intrepid bike ride or jog. Two blocks east, the Parade Ground contains numerous sports fields, a playground and dog run. For residents that street park, it’s a bit easier to do so here. There’s also a large third party-operated garage next door where many shareholders have monthly rentals. Getting onto Brooklyn Queens Expressway extension Prospect Parkway is a breeze from the end of building-adjacent Caton Avenue, on which the garage opens as well.