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September 20, 2007
Co-op of the Day: 24 Monroe Place Reduced
It seems like only two weeks ago that we were discussing the $2.4 million price tag on the four-bedroom pre-war co-op at 24 Monroe Place. Ohyeah, it was. In a sign that Brooklyn Heights is not impervious to the effects of a declining real estate market, the asking price has just been reduced almost 20 percent to $1,950,000. As we look at the floorplan, it occurs to us that buyers in this price range are probably aren't too psyched about having a galley kitchen. The other negative: The fourth bedroom is a small "maid's room" at the rear of the apartment, hardly a great spot to stash the newborn. Still, gorgeous apartment, blue-chip building, great location. We shall see.
24 Monroe Place [Douglas Elliman] GMAP
Co-ops of the Day: Side-by-Side in The Heights [Brownstoner]
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Comments
There is also no doorman at this building. Most people buying a large apartment in a building such as this would prefer a doorman, no?
Posted by: punko at September 20, 2007 1:25 PM
I've got a branding idea for BH:
Brooklyn Heights
Close to Manhattan
Farm from interesting
Posted by: guest at September 20, 2007 1:30 PM
Sorry, love ya' bstoner, but this is hardly a price drop caused by a 'declining real estate market'. Clearly, this agent (or more likely, the seller) wanted to test the market at a high price and see if they got any bites. Price drops are nothing new...
Posted by: guest at September 20, 2007 1:31 PM
Not clear to me from the floorplan, but it looks like no W/D in the apartment. For that price (ok, for any price), I am not going down the hall or to the basement to do laundry.
Posted by: guest at September 20, 2007 1:31 PM
1:31 -- No you will not go down to the basement -- your housekeeper will!
Posted by: guest at September 20, 2007 1:42 PM
This apartment looks like its about 1,500 sf. At $1.95 mm that's $1,300 psf. If that's a declining real estate market price I'd like to show any potentail buyers my 2,500 sf single family about 10 blocks away at the same price per sf.
Posted by: guest at September 20, 2007 1:50 PM
There is nothing wrong with this apartment.
In fact it is a classic three bedroom with maid's room.
Not too many of these come on the market.
The only minus is the parking situation in Brooklyn Heights. There is a lack of convenient parking for the family car, and for guests who wish to stop in.
Posted by: sam at September 20, 2007 2:30 PM
rich people are idiots
Posted by: guest at September 20, 2007 2:34 PM
"rich people are idiots"
So true - lucky for them (at least the self-made ones) they were still just a wee bit smarter then the poorer folk
Posted by: guest at September 20, 2007 2:58 PM
re: W/D... None of the apartments in the building have W/D's in them. Coop rules because of ancient plumbing and electrics.
At least they've repainted the place since its initial listing. It's a very good building, and as 2:30 points out, there are very few 3BR's in the Heights.
Posted by: guest at September 20, 2007 3:21 PM
3 bed or not, for almost 2 million I want a washer and dryer.
Posted by: guest at September 20, 2007 3:23 PM
Seller asked WAY too much and nobody bit.
Also, this isn't really a blue-chip building. If this One Pierrepont or Two Montague Terrace, they might have gotten this price (in fact, something similar sold at 2MT for a really high price recently)
Posted by: guest at September 20, 2007 3:39 PM
Sometimes I think this blog is more about major appliances than about real estate. The talk often turns to dishwashers and refrigerators, and in this case, washer dryers. Who cares? It is a 1.7 to 1.9 million dollar co-op. If you can aford it (and be approved by the board) you can have your laundry done in France for heavens sake.
Posted by: sam at September 20, 2007 3:39 PM
It will sell by next week this time.
Guaranteed.
People are out in force since Labor Day. This will be a very busy open house weekend with the weather like this.
Posted by: guest at September 20, 2007 4:13 PM
Your so wrong - I (think) I could afford it (barely) and there is no way my wife is moving into a place without a w/d and no way that she is sending it out - she loves to do laundry and I aint paying for THAT!
Posted by: guest at September 20, 2007 4:35 PM
4:13pm
I see the broker blocker is not working again
Posted by: guest at September 20, 2007 4:42 PM
Did ya'll not see the article on the cover of the NY Times Business section about the inevitable 20-40% drop in RE prices in all major markets, NYC included? Missed that, did you.
Posted by: guest at September 20, 2007 5:02 PM
2K per month maintenance doesn't help this one either.
Posted by: guest at September 20, 2007 5:17 PM
actually, the 2k for mt is about the only part of this place that makes sense.
Posted by: guest at September 20, 2007 6:17 PM
You have the dough to buy this co-op and your wife does the laundry? Who you kidding?
Get a clue: your cleaning lady does your laundry. Your wife is having an affair with the UPS man.
Posted by: guest at September 20, 2007 8:21 PM
Actually my wife prefers Fed Ex............
Posted by: guest at September 20, 2007 10:04 PM
There are two parking garages a very short walk from this building: on Henry (75 Henry Street) and on Clinton (40 Clinton).
Posted by: punko at September 21, 2007 7:31 AM
not for nothing...these two agents are what you call bottom feeders. not for the quality of the place they are selling but how they get the listing. they zoom in when another agent loses a listing if it didn't sell at the original price the owners wanted. they then drop the price to where it should have been to begin with. they are scavengers and usually behave unethically just to get the listing. buyer beware.
Posted by: guest at September 21, 2007 8:45 AM
7:31am - that's great, but what's the waiting list to get in those garages?
8:45am - I believe these are the same two brokers who've had the listing all summer, when it was up at $2.4M
Posted by: guest at September 21, 2007 10:05 AM
Actually my Wife is having an affair with someone at HER job - but she still does an excellent job on the laundry!
and BTW most 'cleaning people' wont do laundry anyway.
You'd clearly have to 'rich' to afford this apartment but you clearly have the wrong idea how far 500K a yr goes in this city.
Posted by: guest at September 21, 2007 2:21 PM
This has now been bumped up back to 2.4 - what gives?!!?
Posted by: guest at October 8, 2007 5:04 PM
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