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August 25, 2008

Co-op of the Day: 24 Monroe Place

24-Monroe-Place-0808.jpg
This two-bedroom co-op at 24 Monroe Place in Brooklyn Heights is a lovely prewar pad, to be sure. In addition to the two beds, the for-sale-by-owner listing's got a foyer and formal dining room, two bathrooms and a recently reno'd kitchen. It's a little odd that the blinds are drawn in all of the photos, making us wonder what's outside those windows and what floor it's on, in the absence of any positive info. Still, sweet pad regardless. Maintenance is $1,600 a month, on the stiff side for a 1,250-square-foot apartment, but this is a top-shelf building. Asking price of $1,188,000 comes in at a little under $1,000 a foot. Think it'll fly?
24 Monroe Place [FSBO] GMAP P*Shark
Co-op of the Day: Another One at 24 Monroe Place [Brownstoner]
Co-op of the Day: 24 Monroe Place Reduced [Brownstoner]




Posted by Brownstoner at 12:44 PM | Comments (26)
Categories: Brooklyn Heights, Co-ops

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Comments

Does it strike anyone else as odd that the interior photos all seem to have been taken with the shades down and at night? Bad view of air shaft?

Posted by: cobblehiller at August 25, 2008 12:56 PM

Odd that maint. is so high with what appears to be a huge reserve fund. I know the two aren't related, but if they spent some of that 1.8 million reserve (if I'm reading the e.s.l. text correctly...) to pay down the mortgage they could lower the monthly.

Otherwise, yes, very nice. The kitchen and baths look really well done. I don't think a galley is a drawback at all, given that it's 13' x 7.6'

Posted by: Bolder at August 25, 2008 12:58 PM

says apt3D - so bet my money it is on 3rd floor.

Posted by: Petebklyn at August 25, 2008 12:59 PM

cobblehiller: That's exactly what I thought -- there has to be a serious problem!

Bolder: They may be planning on refinanicng the mortgage at a lower base -- paying down if you have a good interest rate is not a good deal for anyone but the bank.

The layout is odd - the bathroom in one of the bedrooms?

Posted by: BH76 at August 25, 2008 1:13 PM

I agree that shades drawn and the high maintenance are disturbing. What's behind both? And there's a bunch of hype in the FSBO, including "huge" living room. Doesn't seem small, but not exactly huge.

While, on the one hand, the copy in the ad could have benefitted from an editor's review, on the other hand, such a review might have denied us the wonderful line, "Only cats allow no dogs, sorry!". Are there no other animals that would be hesitant to allow dogs?

Posted by: Biff Champion at August 25, 2008 1:27 PM

It has a perfectly nice layout for those who like
classic pre-war layouts.
It is a high asking price though and the maintenance is awfully high.
Tough call.
I would pass.
Or not go above 1 million.

Posted by: sam at August 25, 2008 1:29 PM

Ok, I can't resist:

"Chef dream kitchen"...and urologists dream what room?

"with granite floor and tops"...are we allowed to spin the tops on the granite floor?

"Convenient to all"...it's not that convenient for those living in California.

Posted by: Biff Champion at August 25, 2008 1:32 PM

I also thought the copy was a little silly - "Has a country feel to it." Wha....I mean, there are some TREES on the block but the comparison ends there!? LOL.

Posted by: cobblehiller at August 25, 2008 1:36 PM

Should fly for not much less than ask. Heights and prewar make a deadly combo for a 2/2.

Posted by: DOW8000SP800 at August 25, 2008 1:43 PM

the copy is indeed a little silly. but it's still better than the random bunches of words a typical broker dumps into a listing.

Posted by: z at August 25, 2008 1:47 PM

I don't think horses like dogs that much either. They make 'em jumpy.

Posted by: dittoburg at August 25, 2008 1:50 PM

It will not come close to $1,000 psf. And that's not taking into account the mysterious maintenance and what may be behind window #1 (and #2 and #3...)

Posted by: Biff Champion at August 25, 2008 1:57 PM

I love that block and that building. Seems to be a nicely laid out apt. Maybe the shades are all closed to allow for photography, easy to balance the light without a lot of equipment. The reason for the poor English may be found in the name of the owner. A lotta money tho...

Posted by: denton at August 25, 2008 2:36 PM

1.8 million in a reserve fund is unheard of. I don't think I believe it. Do they have a huge flip tax? How could a coop raise that much excess cash? $200,000 to $400,000 would be considered a terrific reserve fund. Many co-ops have zipidity-doodah in their reserves, especially the "charming" walkups in converted brownstones.
If this co-op really has this much socked away, they should lower their maintenance because it is excessively high.

Posted by: sam at August 25, 2008 2:49 PM

certainly not what i would call a classic layout. seems cramped. and decorated in the "80's boardroom style" who wants to watch Working Girl with me later?

Posted by: stoep2conquer at August 25, 2008 2:51 PM

We bought a 2 / 2 in a pre-war doorman building on a similarly attractive BH street a few months ago for much much less. Same sq. footage. same maintenance. We had some cosmetic renovations that need / needed to be done, but certainly not over $350K worth!!! Gives us hope for resale value.

Posted by: columbiatch at August 25, 2008 3:29 PM

" industrial standard double oven/grill with 6 stoves"

6 stoves is now the standard?

I have 6 burners but wow, 6 stoves, I guess I need to do dome upgrading huh?

All in all the place seems nice but with maintenance like that? Just buy a house.

Posted by: TownhouseLady at August 25, 2008 3:51 PM

TownhouseLady, thanks for that one! The cats might not allow dogs, but it seems they have no problems with beaucoup des appliances!

Posted by: Biff Champion at August 25, 2008 4:04 PM

I have a problem with the cats bossing the dogs around like this.

I'm sure they are fat cats too.

Posted by: sam at August 25, 2008 4:54 PM

This place has a real dinning room. I expect that's where the cats make screechy noises when they see the dogs?

Posted by: bxgrl at August 25, 2008 5:45 PM

"I expect that's where the cats make screechy noises when they see the dogs"! That was laugh out loud funny.

And I now have a hankerin' for Working Girl. Hmmmm. Wish Netflix was instantaneous.

This place does seem a bit odd. I think its the layout. But I'd love to play granite tops in the kitchen!

Posted by: Nokilissa at August 25, 2008 7:45 PM

Nokilissa- where have you been? Missed you on the board.

Posted by: bxgrl at August 25, 2008 8:09 PM

The last gasps of summer came calling and we took some much needed breaks. I think the summer broke a world record AND an Olympic record for speed!

Posted by: Nokilissa at August 25, 2008 8:52 PM

I think those shades are drawn to allow for the photos to come out. Otherwise the light from the windows would have caused everything else to be too dark to see.

Peter
http://www.FlashlightWorthyBooks.com
Books so good, they'll keep you up past your bedtime. ;)

Posted by: PeterSteinberg at August 25, 2008 11:22 PM

Love the layout. At 950 per sq ft it is a good buy in this highly respected wall street yuppy neighborhood. Montague Street, newest development named 166 Montague St. is asking for $1200 to $1400 per sq ft even at this down time for properties. Good luck to the seller. The way to go. Save hefty commissions by greedy NY broker(6-5% the highest in the country) and sell cheap.

Posted by: youngdurian at September 7, 2008 3:19 PM

Correction the newer development in Brooklyn Heights are now asking $1500-$1750 per sq ft. Almost like Manhattan price:
http://www.20henry.com/?gclid=CKO7msK60ZUCFQiSHgodGlP1iw

Posted by: youngdurian at September 10, 2008 10:46 AM

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