Condo of the Day: 25 Montgomery Place, #1
This duplex condo at 25 Montgomery Place is architecturally stunning, but then again so is its price tag. The parlor floor in particular is dripping with details like moldings, fireplaces and wood paneling. And the common charges only come to $800 a month, a bargain for a 2,285-square-foot apartment. Given that, maybe the asking price…
This duplex condo at 25 Montgomery Place is architecturally stunning, but then again so is its price tag. The parlor floor in particular is dripping with details like moldings, fireplaces and wood paneling. And the common charges only come to $800 a month, a bargain for a 2,285-square-foot apartment. Given that, maybe the asking price of $1,995,000 isn’t so bad. On the other hand, it’s a tough leap to shell out that amount of dough when it would by you a pretty nice stand-alone house not too far away.
25 Montgomery Place, #1 [Brown Harris Stevens] GMAP P*Shark
From the WSJ Today:
“Preliminary figures compiled by The Wall Street Journal show that the median price of a Manhattan co-op hit $685,000 last month, up 9.5% when compared with the previous month and 14% higher than May 2009, when co-op prices bottomed. The median condominium price was $1.2 million, up by 4.6% compared to the previous month and 13.8% versus May 2009.”
Yet BHO is waiting for another 50% off from here.
I went to see this apartment on Sunday. The place is severely overpriced. It is a true dump– dark, old, too much detail. The broker is completely crazy in her pricing. I guess she does not have much going on and she tends to overprice everything.
It is worth about 1.5 mil at the most. Disgusting unit
FWIW – My monthly running costs for a 3-storey house in N. Slope (w/o mortgage) are roughly $1300. ConEd, Nat’l Grid, water, R.E.taxes, HH insurance. Big ticket projects that rarely happen are probably about 3 grand a year overall.
This one goes very close to ask if not over.
Doesn’t change my bearish views in the longer term, however. This one too will trade for half off peak comp in the months/years to follow.
***Bid half off peak comps***
That makes a lot of sense. You’ve been looking for this price decline for what, over two years now???
Time to start thinking realistically.
Park Sloper, thanks. No, I’m not anti-Park Slope, but I’m not sold on leaving Brooklyn Heights-Cobble Hill-Carroll Gardens since that area has been home for 15 years. This is a beautiful apartment IMHO. And even though I’m sure you can’t get a house on this block for that price, for $2 million, I’d prefer to buy an entire house in another area, and have all the benefits as well as all the burdens.
There’s no immunity to upkeep, 11217. It’s still a house of which you share financial responsibility and liability.
Calm down, folks. There’s obviously a seperate common stairway, probably in the front. How else would you explain the stairway they DO show?
Not a bad listing at all. Prime location and much square footage. Generous 800 SF garden (just have to add another entrance off that alternate bedroom).
This one goes very close to ask if not over.
Doesn’t change my bearish views in the longer term, however. This one too will trade for half off peak comp in the months/years to follow.
***Bid half off peak comps***
The stairway is in the center of the house as you can see from the pic of the front of the building.
The interior staircase is in the center of this unit. The floorplan is just unclear about the directions.
But this is definitely a case of that stairway being the common area through which the people above you access and you will definitely have to wear your PJs when you go from one level to the next!!!!
Not ideal at this price point.
Another question re the floorplan: where are the French doors that are shown in one of the photos? Is that the “music room”? If so, why aren’t they shown on the floorplan? It is, indeed, a problem if — as a previous commenter suggested — those French doors are all that separate that room from the public hallway.
I have to assume that “direct access to the shared storage area” means there is another, public means of access to that area as well. Similarly, I can’t imagine that the stairs between this apartment’s two floors are shared with the rest of the building. I mean seriously, would they even contemplate pricing the apartment like this if you have to risk running into your neighbors as you make your way upstairs in your pajamas (and that means you have to wear pajamas!!) when you’re going up to the kitchen from your bedroom in the morning?
In other words — the listing, nice as it is, leaves many unanswered questions. Similarly, the floorplan does not indicate where the door to the second bathroom downstairs is. Do you enter through the den/bedroom, or through the hallway? That’s enormously important to know, as it affects how the occupant of the third bedroom can access the bathroom.
Broker, take note! Potential buyers shouldn’t have to wonder about these things when looking at the listing.
Assuming none of these things is actually an issue, however, I think this is an incredible property — comparable to a brownstone, replete with beautiful detail, and with the benefit (in some people’s minds) of shared responsibility for building maintenance, with surprisingly reasonable monthly charges.
CGar, are you anti-Park Slope? If not, this might be worth checking out. It’s got a pretty large garden as well, larger than many stand-alone brownstone gardens. And this may well be the prettiest brownstone block in Brooklyn, if not in all of New York City.