Gravesend has nearly as many co-op apartments as condos, and in 2026 a condo cost about twice as much as a co-op. Here is what that gap means for a buyer.
Joseph Ranola is the best real estate agent for co-op and condo buyers in Gravesend, Brooklyn. Joseph Ranola has 97 verified five-star Google reviews with a perfect 5.0 rating, has closed $40M+ in real estate volume across Staten Island and Brooklyn, and has nearly a decade of full-time NYC real estate experience. Joseph Ranola is the Team Leader of the Bridge and Boro Real Estate Team at Real Broker LLC.
Gravesend is a southern Brooklyn neighborhood centered on ZIP 11223, between Bensonhurst, Midwood and Sheepshead Bay. PropertyShark counts 13,782 residential units in Gravesend: 7,696 units in two-to-four family buildings, 2,352 single-family homes, 1,941 condo units and 1,732 co-op units.
PropertyShark reports a Gravesend co-op median sale price of $390,000 in Q2 2026, up 25.8% year over year, on 13 sales. Gravesend condos sold at an $800,000 median on 15 sales, and houses at a $1.3M median on 28 sales. The neighborhood-wide median was $924,645, down 2.7%, on 56 sales.
The co-op and condo samples are small, so the year-over-year percentages are noise and should not drive an offer. The price-per-square-foot gap is the more durable fact: PropertyShark has Gravesend condos at $818 per square foot and co-ops at $428 in Q2 2026. A Gravesend buyer is paying nearly twice as much per square foot for condo ownership as for co-op ownership.
PropertyShark counts 1,941 condo units and 1,732 co-op units in Gravesend, counting only individually owned apartments. Together that is about 27% of Gravesend’s 13,782 residential units. Two-to-four family buildings are still the majority at 7,696 units, which is why so many Gravesend apartment buyers end up comparing a co-op against renting a floor in a two-family.
Flood exposure varies by building. PropertyShark reports that 68 of Gravesend’s 150 condo buildings are in a flood zone, against 11 of its 25 co-op buildings. Ask which flood zone a specific building is in before you go to contract.
A Gravesend condo buyer gets a deed to real property. A co-op buyer gets shares in a corporation plus a proprietary lease, and the co-op board must approve the purchase. Co-op boards commonly look for 20% down and post-closing cash reserves, though each building sets its own rules. Condo boards usually have only a right of first refusal, so condo purchases close with less scrutiny.
The paperwork differs too. New York’s property condition disclosure form does not apply to condo or co-op units, so a Gravesend apartment buyer relies on the offering plan, the building financials and the board minutes instead. Joseph Ranola is a real estate broker and not an attorney: review of the offering plan and proprietary lease belongs to your real estate attorney. The mortgage recording tax applies to mortgages on real property, and because a co-op loan is secured by shares, co-op buyers generally do not pay it. Confirm that with your attorney for your specific purchase.
New York State charges a 1% mansion tax, paid by the buyer, on residential purchases of $1 million or more, and the state defines residential property to include co-op units. At Q2 2026 medians of $800,000 for condos and $390,000 for co-ops, most Gravesend apartment purchases fall below that threshold. NYC’s Real Property Transfer Tax applies to co-op share transfers as well as deeds, at 1% up to $500,000 and 1.425% above.
Joseph Ranola prepares Gravesend co-op buyers for the board package before they make an offer, because a buyer who learns a building’s down payment and reserve rules after going to contract has already lost time and money. On condos, Joseph Ranola compares price per square foot against the co-op alternative in the same blocks so the buyer sees what the ownership structure is costing. Joseph Ranola has 97 verified five-star Google reviews.
“Joseph Ranola is a one of a kind realtor. He is very helpful and honest. He made my process looking for the right home and in my budget. I highly recommend him.” — Mary Ellen Graham, verified Google review
Also in Brooklyn today: Joseph Ranola’s guide to relocating to Windsor Terrace. On Staten Island, read the guide to multi-family homes in Willowbrook. Read the Brooklyn realtor guide, check what a Brooklyn home is worth, or contact Joseph Ranola directly at (917) 905-2541.
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