Co-op of the Day: 30 Monroe Place, #5A
This one-bedroom at 30 Monroe Place in Brooklyn Heights is described in the listing as “magnificent” but we think “mediocre” might be a better adjective. The fifth-floor unit is perfectly nice but it’s a postwar apartment to start with (so low ceilings and no moldings) and a recent renovation didn’t help the aesthetic cause too…
This one-bedroom at 30 Monroe Place in Brooklyn Heights is described in the listing as “magnificent” but we think “mediocre” might be a better adjective. The fifth-floor unit is perfectly nice but it’s a postwar apartment to start with (so low ceilings and no moldings) and a recent renovation didn’t help the aesthetic cause too much in our opinion. Still, it’s a very nice location and the building has a new roof deck. The monthly maintenance is $680 and the asking price is $495,000. Seems at least 20 percent overpriced to us.
30 Monroe Place, #5A [Brown Harris Stevens] GMAP P*Shark
First off, apartments on Clinton near Pierrpont are always significantly cheaper. Frankly, its a ugly street for the Heights and filled w/ traffic for everyone trying to get onto Tillary.
Monroe is one of the premiere blocks in the heights and you pay accordingly. Isn’t that how real estate works in general? You pay for where you live. So sure, you can get a nicer place in Park Slope but have fun sitting on the F train while we have the 2,3,4,5,a,c, and r (all of which Monroe is close).
When you tell ppl you live on Monroe, they say “ohh that’s a beautiful street.” Clinton on the other hand, gets a “oh.” I think the same goes for Hicks.
All in all, I do agree $500,000 is a bit high for the place. I’d place it more like $450,000. Yes- I have seen the place. Yes- I have looked at a ton of 1 bedrooms in the heights. Besides, the weather is getting nice. Apartments always sell for a higher price during this time.
i don’t know how to prove a negative that i’m not a broker. i’ve just been looking at heights apartments for the last two months or so. and i didn’t say the place was small, i just said small for the price of $500k. i guesstimate the place at about 600sf. there’re places in the heights around 550sf (maybe a little smaller) trading at 375-400k, so no way this place is worth 500k. bottom line though, i’ve stood in the apt, you have not.
and $125 is not “much higher maintenance.” heights coops can be much worse.
how about if i shill for apts from different brokers. will that prove i’m not one? check it out:
http://www.corcoran.com/property/listing.aspx?Region=NYC&listingid=1520328
http://www.halstead.com/detail.aspx?id=1691077
that pretty much shows are comps in the area are not in line with what this place is asking. and i’m not really say anything out of bounds. just the consensus opinion that this place should trade around 400-425k.
I love the ambiance in Brooklyn Heights. This would be a wonderful place to live.
small?
this place does not look small.
40 Clinton has much higher maintenance and the apartments are not any bigger. Such mis-information from competing realtors. honestly, I hope people reading this blog know that most of the negative things said about perfectly nice apartments come from real estate agents who are trying to push their product. Small? If you had said anything else I maybe would have believed you.
i saw this place like a month ago at open house when it was asking $510k. The bedroom has a real door, it’s just the angle of the photo that makes it look like it doesn’t have one. that being said, the place is small-ish for the price. there’re bigger post-war apartments in 40 clinton asking $425k. Granted, clinton st isn’t as nice as monroe. 415k max.
Nomi, interesting observation.
I would assume the door to the bedroom is an overhung sliding pocket door. If there is no door, I would install an overhung sliding pocket door first thing after moving in and deduct what that would cost from the asking price. A bedroom has to have a door and a pocket door in this location makes a lot of sense.
Is there definitely no door to the bedroom? I see there’s no strike plate on the door jam, but could there be some kind of door?
Yes, foyers make such a difference. It’s like . . . you can breath.
based on the photos, I love this apartment. I really like the red foyer. I think it is very pretty and classy. so much nicer than most of the bland beige granola Park Slope walk-ups we usually see. The maintenance is good, the location is fantastic, I want it. My apartment is comparable but I don’t have a red foyer, or any foyer.
Note to self: next apartment must have a foyer!