House of the Day: 60 Montgomery Place
Not that $3,450,000 ain’t a lot of dough, but sometimes it’s a reasonable price to pay for a house and sometimes it’s not. While it’s hard to tell exactly how much restoration work a new owner would have to invest, this house at 60 Montgomery Place in Park Slope has that something special that would…
Not that $3,450,000 ain’t a lot of dough, but sometimes it’s a reasonable price to pay for a house and sometimes it’s not. While it’s hard to tell exactly how much restoration work a new owner would have to invest, this house at 60 Montgomery Place in Park Slope has that something special that would at least get our attention were we in the market to write this kind of check. Currently configured as two duplexes, the house is 70-feet deep on the first three floors and has “large rooms and distinctive details,” according to the Townsley & Gay listing. The sellers have owned the place for close to two decades. Has anyone been inside recently? If you had to put a million bucks into it, think it could still be worth it?
Montgomery Place Mansion [Townsley & Gay] GMAP P*Shark
10:59, except that this differentiates today’s market from that of 2005:
http://www.nytimes.com/2007/10/22/nyregion/22economy.html?em&ex=1193198400&en=c134c0bdbacb4aa6&ei=5087
I personally don’t think the small yard is a deal-breaker considering you are across the street from the park (the biggest yard you could ever want!). I just think that the location of this particular house is highly unfortunate given that you are in the shadow of that condo building, and that it pretty much abuts your property. That is the true shame.
I just went back and read the discussion when 45 Montgomery Place was originally listed in Nov 2005. Everyone was shouting about how the market had collapsed and it would never sell — la plus ca change….
Montgomery Place: I think all the park blocks are considered highly desirable, the housing stock on Montgomery is particularly notable, and being a one-block street makes it incredibly quiet, hardly any traffic
But that’s a good point about the small yards
I saw Berkeley & 8th house. I don’t think it was worth $3.4 for one main reason: lack of original detail. For buyers at this price point, I would think that original architectural details would be important, even if the place needs to be restored. Berkeley & 8th was awash in ugly recessed lighting and uninspired renovations and seemed to be to be totally lacking in charm. I much preferred the Berkeley & 7th home, a total fixer-upper but absolutely “dripping in details” and with an amazing old-world vibe to it.
As a fifteen year resident of Park Slope, can someone please explain to me why Montgomoery Place is considered such a great street? Every house I’ve seen on it has a small yard because it’s one of those little streets that is subdividing a much larger block. I’d so much rather be on Lincoln, Berkely or President, centrally located with a larger lot. What gives?
I actually thought the 3.4 Berkeley/8th was underpriced given what an excellent interior it had…so open, light and spacious.
It came on the market after the credit crisis…and I think that I saw it sell in under 2 weeks.
So I think that one was a little bit of a bargain, shall we say and that had that place hit the market at it’s prime, it could have gone close to 4 million.
Now buyers are just being a little more cautious.
That’s actually a good thing. Selling 3.5 million dollar homes without a little work to find the right buyer is back to a normal real estate market. Let’s embrace it. There’s plenty more time left to get to the 4 million, 5 million dollar brownstones in Brooklyn.
Don’t rush it.
If someone can afford the $3.5 and the $1 million+ to renovate this home, I would think that the same person can spend, let’s say, $4-5 million for a house in better shape, with a full-sized yard and plenty of natural light that is unobstructed by a gigantic apartment building. Of course I’m only speaking from my own point of view. I fully understand that at the right price, there’s a buyer for everything.
this house is 1 foot wider than 52 montgomery.
542 First Street just sold 2 months ago for 3.45 mil and i hear they are doing a gut job.