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
I agree that in this instance the monthly fee seems reasonable, though I wouldn’t call it a bargain exactly. Still it begs the question, what should the mtn fees/common charges be? As a brownstone owner, I’m always surprised at how high coop and condo charges are. It would be interesting to get a bunch of folks who read this site to comment on their own average costs of maintaining a house vs an apt. I appreciate that a coop’s monthly fee includes a share of the underlying mortgage but I suspect management company fees, insurance and other “red tape” and hidden costs are higher than actual maintenance costs (electricity in common spaces, cleaning, repairs etc).
And 276 Berkeley Place (a similar looking house to this one) was listed at 4.2 million and has entered contract as well.
I see the Montauk Club pad is “in contract” — that place has monthlies of $2,700. But it’s about 4,000 sq ft I guess.
The difference is $15,000 a month vs. $11,000 a month.
Jaysus! Are you serious? These are numbers that you folks are even comfortable contemplating? Can one of you adopt me?
Beautiful place, but for 1.9 I’d want a bit more privacy than just a set of french doors separating the hallway from the living room.
This is one of the finest streets in Park Slope; no way would you get an entire house nearby for close to this asking price. Monthlies are totally reasonable as well. That access to the shared storage could be problematic, but maybe there’a another access for everyone else?
It’s somewhat unclear from the floorplans exactly how the common staircase runs but this place seems to have the problem of shared common area staircases. In other words, people will come up and down to get to the basement and you are essentially living on two separate floors where there’s no internal staircase and you have to keep all your doors shut.
Not ideal, especially at this price point.
“No doubt the pricetag is steep, but you aren’t going to get a “stand-alone” house for this price and the square footage of this apartment is not much smaller than stand alone houses which sell for 2 million in this part of the hood.”
Sorry, I meant to say that you aren’t going to get a “stand alone” house on Montgomery Place for 2 million. Somehow didn’t finish my thought…
If everything is ship shape, I think this will get close to ask no problem. (Especially once you see past the furnishings.) The only major downside is the “access to the shared storage room” from the lower level — do the other owners in the building somehow get access throught the unit? If so, that would be a huge dealbreaker.
“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.”
No doubt the pricetag is steep, but you aren’t going to get a “stand-alone” house for this price and the square footage of this apartment is not much smaller than stand alone houses which sell for 2 million in this part of the hood.
But this is for someone who doesn’t want to deal with the upkeep on a house. And the maintenance cost being about the same as a studio in Brooklyn Heights definitely boosts the pricetag on this place a bit.
Personally, I love it although just like the apartment on 8th Avenue which has been for sale for a long time at 1.8 million, it will take a special buyer for a place like this.