House of the Day: Off to Monroe We Go
We like the feel and location of this 4-story brownstone on Monroe between Bedford and Nostrand. Even though it looks like some of the upper floor rooms have lost their details, this parlor floor doors and stairs more than make up for it. (It’s a lot easier to find some crown and base moldings to…
We like the feel and location of this 4-story brownstone on Monroe between Bedford and Nostrand. Even though it looks like some of the upper floor rooms have lost their details, this parlor floor doors and stairs more than make up for it. (It’s a lot easier to find some crown and base moldings to touch up the bedrooms than find original 10-foot doors and frames, that’s for sure!) The kitchen alcove is a bummer, but since it’s a four-family, you’re gonna be tearing out a couple of these kitchens anyway. Close proximity to the A Train at Franklin is also a plus. And the price? $949,000 seems about right though we could see it going for closer to $900,000. Not sure how long this has been on the market, but it looks like a place that should move quickly.
146 Monroe Street [CBHK] GMAP P*Shark
Yeah, I KNEW 2 months of stripping lead paint off of every #%$^@! piece of molding would pay off! In your face, cheap Home Depot renovators!
Psst…Amy…linked my address. Would love to pick your brain. I’m not new to the reno, landlord thing, but very new to the nabe. Thanks!
Hi Anon 8:35,
Some one, some two bedroom floorthrus. We have 5 one bedrooms in different homes we own right near here(most just floor thrus with one room designated a bedroom) going for between $1450 to $1600. But they are NOT ugly – no gutting, no home depot crap. We took great pains to RESTORE them and they have details, orignal floors, orignial tile, stainless appliances etc. Plus as landlords we are very available and prompt which matters. Others on our block have a floor renting in their houses for $1450-$1600, some with two bedrooms, some just floor thrus. If it is a good reno you can get $1500 easy. If it is bad closer to $1300.
I’d be happy to talk to you more (I’ve been doing the reno & landlord thing in bedstuy for 2 years)- just post your contact info and I’ll get ahold of you if you are interested.
Amy
Amy, are these 1 br floorthru’s they’re getting $1500 for? I’m restoring a brownstone nearby and trying to figure out what to charge for the rentals. I see that the rents are all over the place!
My husband and I live on the same block of Monroe one block down (between Nostrand and Marcy) and have been here two years. Everyone on our block rents their newly refinished floor-thru apts. for $1500-$1600 (depending on shape/floor etc) no problem. We LOVE the block and are working with the mentioned block to really solidify our block association(s). Services in the area are still lacking – where’s our grocery store! We are working on getting Fresh Direct into the hood. They need 1000 calls so please call!
The best train is the A to Nostrand and walk down – it is 7 blocks (the short ones) and a half block down the the left. Not a bad walk – we do it year round twice a day minimum and enjoy it. I have to say that our block is nicer (not to brag) as there is a couple crappy builds on that block. The bed-sty YMCA is also on the block (which we see as a PLUS) they will be done with their renovations this year – may cause some parking problems? If you have any other questions we’d be happy to talk about what we know more. We’d love some brownstoner neighbors!
CrownHeightsProud makes an important point. I might add that renovating in BedStuy is no less expensive than renovating in Brooklyn Heights but your risk exposure is certainly greater in a neighborhood than is still gentrifying and where values could really be hurt if the RE market softens further.
The rent is probably at least 1000 for every floor.
I was just going to comment that the Franklin Ave stop is the C local, not the A express, although the local is usually less crowded at rush, and maybe 10 minutes slower to midtown. I’d rather be at work a little later, rather than squooshed.
House seems overpriced, as it is a 4 family. Most owners usually want at least a duplex, if they choose to live there. Assuming you have to put very little into the rental units, renovating 2 floors still could be pricey. If it’s listed as a legal 4, that means a lot of annoying and complex city regs have to be adheared to, unless you change it, which is also a PIA. I could see high 700’s.
Nice house but unfortunately Franklin Ave only has the crappy C train
If viewed as an investment property, what type of rent would you expect per floor in this neighborhood?