Co-op of the Day: 345 Montgomery Street
This listing at 345 Montgomery Street in Crown Heights had us at the lobby! The idea of getting a generously-sized prewar two-bedroom for just $249,000 also has a certain appeal. A couple of downers though: One, this apartment is on the first floor; two, several units in the building have had foreclosure problems in recent…
This listing at 345 Montgomery Street in Crown Heights had us at the lobby! The idea of getting a generously-sized prewar two-bedroom for just $249,000 also has a certain appeal. A couple of downers though: One, this apartment is on the first floor; two, several units in the building have had foreclosure problems in recent years, raising into question how stable the co-op may be. As for comps, it looks like the apartment above this one sold for $195,000 a year ago. In addition, one apartment on the sixth floor sold for $375,000 in early 2007 and another on the third floor went for $370,000 in February of this year. Think this one has a shot?
345 Montgomery Street [Douglas Elliman] GMAP P*Shark
hey that would be great, i just don’t want you to have to broadcast your email, so not sure how the best way to go about this is…
5:09 if your interested in a co-op & info about it you can contact me, reply to this post and I’ll give you my email.
ok, sorry to be a totally uninformed here, but i am new to the idea of the brooklyn/nyc co-op scene…have just started perusing. can anyone suggest to me where i can find out more info/reference links/previous threads in terms of what i should be thinking about, looking for, why, etc…for example some above mentioned “finances, finances, finances”…, “sponsor ownership” etc…just want to know how these things work and might impact a possible buyer…thank you SO much for your patience and replies!
I own a 1 bedroom co-op apartment, with an eat-in kitchen (& plenty of sun light) in Crown Heights, in a better building (no rent control & most apt. are owned), and safer area, but I still think $249,000 is high for a 2 bedroom. Thinking -if someone has interest- that for my 1 Bedroom, a price in the ball park $165,000 give or take $15,000 is fair.
Just MY/NY opinion
According to Streeteasy there are 5 units in this building on the market right now. Four of those five have had at least one price chop. At least a couple of them have been on the market since late last year. Seems like the price is going to have to fall a bit further.
And as 1:38 so wisely and succinctly pointed out: “when buying a coop the 3 most important things are: finances, finances, finances.”
I grew up at 346 Montgomery Street in the 1950’s. It was a great block then. Ida, across the street who owned the candy shop would give me a coke and a stick pretzel for 7 cents. I went to PS 161 three blocks away and would come home for lunch but not before I picked a half of loaf of bread and a roll (for my dad’s next day lunch) for 22 cents. We used to play stick ball on outside.
I’m glad to see this part of Brooklyn coming up. The buildings are great. Crown Heights needs more individual ownership.
Dreary with a capital D.
It’s a skeezy block. I saw this place advertised on the Times website and drove by a few weeks ago to take a look.
From the outside, the entrance is not impressive at all and the building is much smaller than you would think.
Also, the next-door neighbors are scary looking houses. One across the street is boarded up. If you drive down to the next intersection, there are drug-dealer type of characters walking around, even in the daytime.
Not for me. Take care anyone who moves in around there.
The one for 370k was three bedrooms on a higher floor. I think this will go in the low 200s, depending on the condition of the interior and placement of the apartment (front versus back).