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 $3,450,000 ain’t a lot of dough, but sometimes it’s a reasonable price to pay for a house and sometimes it’s not. While it’s hard to tell exactly how much restoration work a new owner would have to invest, this house at 60 Montgomery Place in Park Slope has that something special that would at least get our attention were we in the market to write this kind of check. Currently configured as two duplexes, the house is 70-feet deep on the first three floors and has “large rooms and distinctive details,” according to the Townsley & Gay listing. The sellers have owned the place for close to two decades. Has anyone been inside recently? If you had to put a million bucks into it, think it could still be worth it?
Montgomery Place Mansion [Townsley & Gay] GMAP P*Shark
I have no idea, 10:18. I haven’t seen the 52 Montgomery House. Maybe the price is just a little too high and the owner is inflexible. But houses needing work have definitely sold in the 3.0-3.4 range in this area. According to streeteasy.com, 52 Montgomery is no longer for sale — perhaps that’s in error.
Sorry–here’s link for 52 Montgomery discussed above. (Someone previously posted the link to when it was HOTD on brownstoner.)
http://www.prudentialelliman.com/Listings.aspx?ListingID=861765&rentalperiod=&SearchType=houses&Region=NYC
This is 10:08. I’m assuming the house is in crap shape, needs complete updating and that the wealthy owners want to get it into tip-top condition. With all the reconfiguration you’d need to do, plus all the mechanicals needing changing, you’re basically talking a complete gut job. It’s a 5560 (or something — my math may be breaking down) square foot house — 1.5$ is less than $300/square foot, which is a bargain for high-end renovation in NY these days.
Ok then. Let’s say this price point is reasonable for a fixer-upper (!). Why then has 52 Montgomery not sold after many months. At least from the pics it looks like a mighty nice house, same style, only 4 houses over on this “Gold Coast” block you all describe as highly desirable. Wouldn’t it have been snapped up immediately, especially since it hit the market months ago, before this whole credit fiasco?
Ok, not everyone wants to live in a house — that’s for sure — but I don’t think there’s any housing that everyone wants to live in… sure seems like a lot of people do want to live in a large house.
10:10, you say ANYTHING as though this is some outrageous price. We’ve seen prices close to this in Ft. Greene and Clinton Hill — this is one of the most exclusive streets right off the park. So that makes up, to some extent, for the deficits.
I can see your point about the co-op. Perhaps I wouldn’t want that either. But I know to some people outdoor space is not much used and not that important. Anyway, I haven’t seen the house, so I don’t know what crap it is. But the location, the style and the size should get something very close to this.
It’s only 2 duplexes, 10:08, not a tenement apartment building. It wouldn’t be “lots of stairways” and “a lot of walls” to remove. I still say 1.5 renovation is ridiculous. That’s solid gold toilet seat style renovation.
To 8:00 PM:
umm.. there are a lot of poor people in Manhattan as well… and lots of places in Brooklyn are selling for over $3 million — which is peanut feed in Manhattan these days
Umm… I think most people realize just fine how expensive Manhattan is, seriously now. That doesn’t mean they’ll pay ANYTHING for a house in Brooklyn just because it’s a better deal than Manhattan. And not everyone wants to live in a large house anyway. Also, I could afford this house, but I don’t want to spend that kind of money to be staring at a 20-story tall apartment building in my backyard. Would you?
ALL neighborhoods’ pricing affects everybody, in that regard it’s true 10:01. For those committed to staying inside NYC, they are having to weigh all the alternatives for the same money. For many, hastily built crappy condos aren’t too appealing. Whether it’s debating Manhattan condos vs. Park Slope brownstones, or Park Slope condos vs. the up and coming fringe neighborhood brownstones.