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House of the Day: 691 Monroe Street

Categories: Bedford Stuyvesant, HOTD

691-Monroe-Brooklyn-122309.jpg
As the listing verbiage admits, this three-family house at 691 Monroe Street in Bed Stuy is going to require a new owner's "personal touch" (translation: cash infusion) but at least it does have some original detail left that can be brought back to life. We don't have a good grip on comps in this immediate area, but the asking price of $560,000 is probably still a little too high, we'd guess, given that this is only a three-story house and needs considerable work.
691 Monroe Street [Abacus Properties] GMAP P*Shark




By Brownstoner at December 23, 2009 1:18 PM | Comments (12)

12 Comments

By househunt on December 23, 2009 1:40 PM

This broker has one of the absolute WORST websites. What is the deal with that?!?!

By mopar on December 23, 2009 1:51 PM

Hmmmmmmm.......these places do trade in the low 500s. Someone I know recently bought a place in move-in condition close to Saraghina. Similar kitchens and baths -- assuming these are in good working order.

What gives me pause is this is a two family with three units.

By daveinbedstuy on December 23, 2009 2:13 PM

$207 psf!!!! Unfortunately there are a couple of fedders across the street.

By denton on December 23, 2009 2:26 PM

I'll take it if they leave the basketball thing.

By bkny on December 23, 2009 3:11 PM

i think it is priced fair. i wish everyone would stop wishing for a fire sale in bed-stuy. things are not that bad. there are alot of great people in the area that are in it for the long haul!

By stevieb on December 23, 2009 3:17 PM

Hmmmmmmm.......these places do trade in the low 500s. Someone I know recently bought a place in move-in condition close to Saraghina.

Posted by: mopar at December 23, 2009 1:51 PM


DIBS, don't you live two blocks from Saraghina? How does it make you feel about paying $850k for your brownstone (plus 100k renovation) Are you down 40% on your "investment"? ROTFL

By daveinbedstuy on December 23, 2009 3:24 PM

40% stevie??? I don't think you know much about Brooklyn real estate.

By stevieb on December 23, 2009 3:28 PM

40% stevie??? I don't think you know much about Brooklyn real estate.

Posted by: daveinbedstuy at December 23, 2009 3:24 PM


Well, where would your house trade today? Someone on here said someone bought a brownstone in move-in condition near where you live for low $500's. Are they comparable properties?


By daveinbedstuy on December 23, 2009 3:32 PM

I doubt they are comparable.

By bkny on December 23, 2009 3:53 PM

stevieb - DIBS location is considered to be much more prime than this listing. the difference in a few blocks and in different directions makes a huge difference in pricing. i am not saying that DIBS house is worth what he paid plus renovation in this economy but i am certain without ever seeing it that it would fair much better if it were on the market.

By daveinbedstuy on December 23, 2009 3:59 PM

I could probably get $700+ for mine now with the upgraded bathrooms, the deck and the yard. It'll be worth more than I have in it in about 4 years, I'm sure.

By mopar on December 23, 2009 5:35 PM

They are not comparable properties. Dave's is in a prime area, and the house itself is also much more grand than the one I am talking about that went for the low 500s.

It sounds to me like his estimate of his house's value is very fair -- quite objective, not at all inflated.

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