« Inside Third & Bond: Week 96 House of the Day: 31 Vanderbilt Avenue »

August 13, 2009

Co-op of the Day: 345 Montgomery Street, #3O

This co-op at 345 Montgomery Street in Crown Heights is a pretty generously-sized one-bedroom. It's got lots of prewar charm and the kitchen and bathroom, while a far cry from fancy, are at least unoffensive in their monochromaticity and simplicity. Its monthly maintenance of $525 is also palatable. And while the location's hardly A-plus, it is pretty close to the subway and if this were Fort Greene or Brooklyn Heights the asking price wouldn't be $179,000, so get over it.
345 Montgomery Street, #3O [Douglas Elliman] GMAP P*Shark

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"So get over it." Nice! That made my day.

Posted by: Nomi at August 13, 2009 12:52 PM

If I were in the market for this unit and liked it, I'd offer $179,500 and walk away with it.

Posted by: daveinbedstuy at August 13, 2009 12:56 PM

The comment "if this were in XX the asking price wouldn't be $X, so get over it" is totally inidicative of the comparing-up mentality that justified crazy prices and fueled the RE Bubble nationally. The fact is that this is where it is and needs to be priced accordingly, not in comparison to a better location.

Posted by: shillstoner at August 13, 2009 1:00 PM

What a great price. Decent looking apartment, one could always tinker with the kitchen and bath, and you might actually have some money available to do it. Great lobby, too. This is a really quiet neighborhood that gets a bad rap only for having the words Crown Heights (South) in it. Looks like a good deal to me. If I were in the market for a good starter place, as a single person, I'd be all over it.

Posted by: Montrose Morris at August 13, 2009 1:04 PM

We'd be in a bidding war DIBS cause I'd offer 180. Really nice apartment. If I was single I'd be scoop it up in a heartbeat. At such a reasonable price and maint. I wonder if they have any three bedrooms?

Posted by: kissera at August 13, 2009 1:07 PM

I wonder if Tybur is checking this thread, this is a great affordable 1br apartment. It reminds me of my first apt in San Francisco, nice proportions.

Posted by: Maly at August 13, 2009 1:21 PM

too late - I've already offered 185k...

Posted by: the chicken at August 13, 2009 1:32 PM

quote:
"affordable"

it's not affordable. but at least it's not outrageously overpriced.

*rob*

Posted by: PitbullNYC at August 13, 2009 1:35 PM

That reminds of some graffiti I saw on the construction fence of an abandoned site on 4th Avenue last night:

"Coming soon: Affordable housing for rich people."

Posted by: DitmasSnark at August 13, 2009 1:55 PM

Rob, do you mean "affordable" as in the conventional (though problematic) definition of 30% of an area's median gross income? If so, then there is very little non-subsidized "affordable" housing in New York.

But how about the more casual "affordable to ME"? Isn't that what most of us care about?

Posted by: Nomi at August 13, 2009 2:07 PM

a little of both nomi. i mean i guess it's affordable for most people in a dual income relationship. meh i dont know, clearly im so beyond ghetto at this stage to ever hope to own anyway.

*rob*

Posted by: PitbullNYC at August 13, 2009 2:18 PM

plus id rather rent in a nice neighborhood than own an iffy neighborhood (nothing against crown heights btw).

*rob*

Posted by: PitbullNYC at August 13, 2009 2:19 PM

Montrose, that's the south side - completely different and inferior to our North side. People, if you want to live in Crown Heights, the North Side (North of Eastern Parkway) is where you should be looking. Not saying the south side is bad but the north side is just that much nicer and prices are pretty comparable

Posted by: more4less at August 13, 2009 2:40 PM

That lobby is pimpish.

Posted by: dirty_hipster at August 13, 2009 2:51 PM

DH, think that place used to be a luxury hotel or something like that back then

Posted by: more4less at August 13, 2009 2:52 PM

i can totally picture myself roller skating in that lobby

*rob*

Posted by: PitbullNYC at August 13, 2009 2:55 PM

i'd scoop this up.
just need some dough.

Posted by: big swinging nick at August 13, 2009 4:23 PM

Uh, which is the north side and which is the south side? There was a 2-bedroom in that building listed somewhere that I was admiring at some point.

Which side is the Children's Museum on?

Posted by: Heather at August 13, 2009 4:33 PM

oh, never mind... I see... gmap... doh.

So isn't this PLG, kinda though?

Posted by: Heather at August 13, 2009 4:36 PM

I wouldn't bet the farm on it, but I think PLG starts south of Empire.

Posted by: kissera at August 13, 2009 5:07 PM

Guys:

Can we refrain from dissing neighborhoods, that we do not know. South Crown Heights, like North Crown Heights have many pockets of charm. Back in the day, South Crown Heights was MUCH safer than North Crown Heights. South Crown Heights has always had the advantage of its proximity to the IRT. Within that area you might even access to the 2,3,4, Franklin Avenue shuttle and the B,Q trains.

Location, location, location.

Posted by: BrooklynIsHome at August 13, 2009 5:22 PM

In a time of flat or declining prices, a place like doesn't look like a good deal. The comment about renting in a better neighborhood is spot on. Sure, CHS is perfectly fine...but for a typical single buyer or young couple who works in Manhattan or downtown brooklyn, it might as well be Siberia. And if there's a good chance you'll be losing money, why live in Siberia while it's happening?

Posted by: Bolder at August 13, 2009 5:50 PM

Monochromaticity?

Posted by: kingston at August 13, 2009 6:42 PM

It's only a few blocks from PLG and the park? I know I like the area of PLG this is close to, so now I am actually kind of curious about this nabe.

Posted by: Heather at August 13, 2009 7:25 PM

http://insideschools.org/index12.php?fs=729&all=y#schoolCommentBoxAnchor

PS 161, the Crown, is the local school. It actually looks fairly good.

According to streeteasy there's also a 169,000 2 bedroom in the building.

Posted by: Heather at August 13, 2009 7:37 PM

if i was a single buyer, or married with no kids, i would hop all over this place. i'm not afraid to get off at president street and walk down nostrand avenue at night...i dont know how others would feel about doing that.....and you might as well shop at costco or bj's the weekend before labor day, because if you are unfamiliar with how brooklyn behaves that weekend, you will not want to leave your house.

Posted by: aj at August 13, 2009 7:53 PM

my partner and i bought a 2 bedroom in this building about two months ago and couldn't be happier.

the neighborhood is great, building is beautiful with all the charm of having been a hotel in the 20s, everyone is incredibly friendly and super quiet. we're close to tons of trains, and just blocks from the park (we have been going every night with our dog)

Posted by: sassafras at August 13, 2009 8:46 PM

Wow, nice. That's good to know.

Posted by: Nomi at August 13, 2009 9:54 PM

I was just looking at the photos and floor plan again. In the room that must be the bedroom, there's a door that's not on the plan.

Posted by: Nomi at August 13, 2009 10:32 PM

Really good to know. I might go exploring... husband would be a hard sell, but the price seems like a bargain, considering the prices around it. So is there both Kosher and West Indian shopping up there?

Posted by: Heather at August 13, 2009 10:38 PM

Thank you for picking up the listing. Also, thanks for the feedback. The correct maintenance of the apartment is $450 with electricity included. Thanks again everyone.

Posted by: askhakim at August 14, 2009 9:01 AM

I'm on the fence on this place. The apartment looks great. I went out to check out the area this past Sunday . I was getting a good vibe when I got off the President Subway stop only to learn that someone was just shot dead in broad daylight on the corner of where this coop is located (Rogers and Montgomery)!

http://blogs.villagevoice.com/runninscared/archives/2009/08/somebody_got_mu_87.php

For me, safety is a big issue since my fiance and I like to go out at night as well as walk our dog. If I suspect that there is drug activity on the block, and I cannot walk around at night with the semblance of some safety - The place is a no go for me.

If you are a buyer and your finances or in check, I would put my money down in a safer area - or wait for this apartment to be priced down.

Posted by: kobk at August 26, 2009 1:50 PM

« Inside Third & Bond: Week 96 House of the Day: 31 Vanderbilt Avenue »

August 13, 2009

Co-op of the Day: 345 Montgomery Street, #3O

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