Rental of the Day: 49 Montgomery Place

Not much to complain about when it comes to this fully furnished townhouse rental at 49 Montgomery Place, in Park Slope. It’s a beautiful house a half block from the park. Along with many well-kept historic details, it also comes with a restored antique billiards table. The home is available this August and only available to rent for a year. The monthly cost is $13,500.
49 Montgomery Place [Brown Harris Stevens] GMAP P*Shark

36 Comment

  • Complete with photos of owner’s family throughout the house. Those chairs at the kitchen island look incredibly uncomfortable.

  • $13.5K may sound like a lot per month, but if you go by the 40x the rent rule, your combined income only needs to be $540K – a pretty average (below even) income around here.

    • The median household income in Park Slope is under $100K.

      • Come on, we all know the median is b.s. – I’m talking about the average family that comes to mind when you hear “Park Slope” — the people who shop at Union Market, husband works in finance, wife is an environmental lawyer, Audi wagon, etc. I would say the median income among this demographic is just under a million.

        • The average family that comes to YOUR mind when you hear Park Slope is not the average family in Park Slope.

          • No. Also, that $500K-1M may be middle class in the Slope, but it’s lower-middle in many parts of Manhattan.

          • The NYT just published an article about this – I am sure that you’ve read it: “If you live in Manhattan and you are making more than $790,000 a year, then congratulations, you are the 1 percent.”

          • Yes, good article. I still think $790K would be on the lower end of the spectrum in all of Manhattan below 96th and blue chip Brooklyn. That’s a bonus (on a bad year) for a entry level i-banker or 1st year associate. Most mid-level execs and partners are people are making 9-10 figures.

          • You think 790k is the bonus for an entry level i-banker? You are insane.

          • Totally. These days $100M (yes, one hundred million dollars, that’s nine figures, right?) is pretty common for mid-level finance.

          • At least you are consistent in talking out of your a** despite all facts to the contrary. From the Census – 16.6% of households in Manhattan make greater than $200K/year. The median household income is $67K and the median $127K.

            In Brooklyn, its 3.9%, $44K and $64K.

            Finally, you clearly have no knowledge of salaries and bonuses in banking and law. Starting salaries at law firms are approx $160K. Partners at top firms earn in the millions, but there are not many of those. While there are hundreds of bankers earning in the millions, most dont come even close.

            In the case of this house, all you need is one willing renter and it may rent. But the pool of available renters with corporate support for a relocation or this level income is very small. Remember, Brownstoner is typically talking about a very small slice of the Brooklyn housing market.

          • My point is the census doesn’t apply here. Most people don’t think about us working stiffs that make no real money and have no assets – we have become all but invisible in NYC.

          • Okay, just don’t propogate that misconception.

          • “I still think $790K would be on the lower end of the spectrum in all of Manhattan below 96th and blue chip Brooklyn. That’s a bonus (on a bad year) for a entry level i-banker or 1st year associate. Most mid-level execs and partners are people are making 9-10 figures.”

            Look, I feel as poor in this town as the next guy, and as ticked off about it, but let’s be real. Young bankers and lawyers (I assume that’s what you mean by first year associate) make around mid-$100k. Law bonuses have been around $10k a year for junior people since 2008. And most big law firm partners make in the low to mid seven figures. Almost none make $10 million, let alone $100 mil.

            The numbers you’re talking about are reserved for a handful of hedge fund-type guys and upper, upper level bank people.

            The point is that even among white collar professionals $590k is probably in the top few percent for a family income the Slope, and when you consider all the creative professionals, etc. and everyone who DOESN’T own a frigging brownstone, well.

          • Yes, I am referring to lawyers in white shoe firms. Also, consider the trust funds for the “creatives” –well into 7-9 figures for many (maybe not in Park Slope, but in prime Williamsburg, Tribeca, Soho, et al.) I’d say at least 20-30% of the city is subsiding on a trust fund of sorts, usually high 6 figures weekly.

          • Do you really believe that “20 – 30%” of the population lives on multi-hundred thousand dollar per week trust fund? A mere $100,000/week is $5.2 million/year. Or that “many” have incomes in the 7-9 figure range?

            Even partners at top law firm do not make in the 8 figure range. See hipsturban for a good explanation of real lawyer, banker and finance salaries and bonuses.

            If you really believe that, I wish you luck on your artisanal ketchup stand.

          • Yes, I do – at least the visible population that people talk about and care about. $100K a week is on the low side (on the west coast at least) for a trust fund – I’d say average trust funds in LA come in at around $5-10M weekly and maybe a little lower here – 6 figure weekly trust funds are lower-middle class these days.

            I will let you know when the New Lots ketchup stand is up and running.

          • if people in the slope make that much they should do a little better job putting themselves together when they leave the house in the morning

          • They want to keep on carrying those middle class liberal cards

          • Well I looked up Jenna Lyons (interesting example you chose since her comp is published online). Last year was a little more than $1 million. Not anywhere close to $7. Still, not exactly chump change. But I’m sure she’s way above the 1% line for Park Slope. You don’t need to make $1 mil to drive an Audi :)

          • Jenna made a million before bonus and stock options. And, you’re right about the Audi, but I am citing the Park Slope types that prefer to drive something understated like an Audi or Volvo (or, of course, the ubiquitous Prius). The truly wealthy have no need for a car at all.

          • Yes I see now that she made closer to $5 million. Still, all the more reason she’s a big outlier. There are just not that many people in Brooklyn who make that much money each year (esp. in cash).

          • Which is why she moved back to Manhattan.

  • Being only a one year rental, the only thing they can really expect is a corporate relocation.

  • So a $20K broker fee for a single year rental? Who would go for that? That comes to about $190000 (assuming the tenant is also responsible for all utilities, which is usually the deal with house rentals.) So to meet the typical NYC 1/3 rent/income ratio, you’d need HHI of $570K. I can’t imagine there are a whole lot of people that can both afford it and only want a year lease.

  • They’d do far better to rent out weekly/monthly via VRBO or Airbnb. You know how many vacationing Frenchies want to stay in Brooklyn right now??

  • My mother always told me it was rude to count other people’s money. Now I know it is boring too.