Co-ops of the Day: Side-by-Side in The Heights
If you had $2.4 million to drop on an apartment in Brooklyn Heights, 24 Monroe Place and 62 Joralemon Street would be a couple of your options. The former is a traditional four-bedroom place in a 53-unit white-shoe prewar building; the latter also has four bedrooms but is in a four-unit building and has a…
If you had $2.4 million to drop on an apartment in Brooklyn Heights, 24 Monroe Place and 62 Joralemon Street would be a couple of your options. The former is a traditional four-bedroom place in a 53-unit white-shoe prewar building; the latter also has four bedrooms but is in a four-unit building and has a more modern aesthetic and duplex formation. Personally, we’d opt for the Monroe Place listing over the Joralemon option. How ’bout you?
24 Monroe Place [Douglas Elliman] GMAP
62 Joralemon Street [Corcoran] GMAP
62 Joralemon is a good 8 minutes from the subway. There are no food stores nearby. The street is steep and has a bone-shaking subway below it. The cobblestones clatter when people drive by. Parking is virtually impossible. And for a mere 3.6MM, you could get a whole house on Willow that is impeccably renoed (and even that is seriously overpriced and has been on the market for a year)
What, like a buyer is going to be influenced by this poll? Seems a trifle far-fetched, don’t you think?
i feel sorry for the seller of the apartment that loses the poll–it might influence a buyer into going with the winning place.
how scientific is this thing? could one seller be voting for their listing multiple times?
the poll is thoughtless and rude, sometimes it seems like brownstoner forgets that there are people adversly affected by its cleverness.
62 Joralemon looks better (i love the loft look) and has private outdoor space.
For $2.4 million i’d rather buy a house.
I agree with the sentiment that Brooklyn Heights is over-rated. I’ll take the extra 10 minutes commute time and stay in the Slope, thanks.
62 Joralemon went on the market in early may at $2.3M and had immediate multiple offers above ask. It quietly went back on the market in mid-July with the price raised to $2.45M. (Anyone know why that contract fell through?) Now that the August lull is over, it’ll be a fascinating comparison of the pre- and post-credit meltdown markets to see if they can get the raised ask. The original listing said 3,000 SF but I think that was optimistic and the current listing doesn’t mention area. Still, probably larger than 24 Monroe Place and the airiness is the big selling point here. Note that the “lower level” is garden level and the front 2 rooms on that level are somewhat dim; almost all of the bedrooms are right on the street.
24 Monroe Place was listed by the broker in mid-May but was FSBO at the same price for at least a few weeks before that. This is much more of a classic layout than 62 Joralemon, which has its plusses and minuses (e.g. servant’s quarters masquerading as bedroom #4; bedroom #3 overlooking an air shaft).
I won’t hazard a guess whether $2.4M is the right price in this market for either unit, but I do think it’s no contest (in favor of Joralemon) if these apts are priced equally. (Seems to be borne out by the bidding interest.) My gut reaction in May was, “62 Joraelmon is pricey but I can see why someone would bid over ask for this rare 4-BR unit; no way in hell would I even think of bidding on 24 Monroe Place unless they lowered price by several hundred thousand.”
I am not comfortable with cooperatives that have a small number of units. One owner has a crisis of some sort and everybody else is looking at a big jump in their assessments until the issue is resolved, months, maybe years, later. Stuff happens: jobs are lost, people get sick…. One owner who cannot pay could bankrupt the whole corporation.
the monroe place is hokey and a poor layout with the 3rd bedroom off the kitchen- that was for the servant. also it has no outdoor space that ican see. joralomen is much nicer, cleaner, has multiple floors for added privacy and sense of space, and has outdoor space. no brainer- joralomen.
I think that if I spent this much money on a co-op I would want a doorman and a garage in the building.
There is absolutely no parking any more in the Heights. And Montague Street is pathetic.
I say spend the money instead on an Upper East Side hi-lux hi-rise and get a little cachet as well for you money.
Brooklyn Heights is over-rated.