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
well, if you want to make it a single-family home befitting someone with that kind of dough, you’ll need to knock down a lot of walls and stairways, reconfigure a lot of rooms, change all the plumbing, electrical, HVAC, windows, new kitchen, new bathrooms, probably interior detail work which I can’t imagine — floors, built-in cabinets, wood stripping, new paint, masonry, millwork. Perhaps you could do it for less than 1.5 mill if you did it on the cheap, but I don’t think anyone spending that kind of money is — instead they’ll get a reputable architect (another 15%-20%) and a high-end contractor (another 25%)
Houses regularly sell for over $3 million in this area, even houses that need serious renovation. If you were looking to spend that kind of money, you could save a little money and get the house on Lincoln place, but Montgomery Place is Gold Chip of the Gold Chip and will hold its value better than anywhere else.
All those “Manhattan is a totally different market” screeching is ridiculous. I’m a life-long Manhattanite and I just bought in Brooklyn because I like it better. Yes, I’m getting more space for my money, but I love Prospect Park, the neighborhood feel, blah blah… Anything I love about Manhattan I can still enjoy — it’s just 20 minutes away! Sure, some people I knew would never consider moving to Brooklyn, barely know where it is in fact, but many many others do..
I think people here may not realize how expensive Manhattan is right now Look at what you get for $4 million in Manhattan — a nice, but not spectacular, three-bedroom condo. Instead of that you get a mansion with room for children, guests, home offices, rec rooms, etc..
If all it needed were cosmetic work, 9:17, I don’t think the realtor would say it needs a complete renovation. The mechanicals likely do need complete updating, and new roof. But even still, it should not be $1.5 million. I would never give Brooklyn-based contractors $1.5 million. They aren’t THAT skilled.
Richardsonian Romanesque is one of my favorite if not the absolute favorite architectural styles. A tiny backyard is unfortunate, but there are stunning things you can do like a courtyard concept for a small backyard. A yard beautifully designed is always better than a yard that is merely big.
For $3.5 million, I have 2 non-negotiable demands:
1. A parking spot
2. A trout stream (stocked with trout, with an auld Scottish crofter who will show me how to catch them)
For $3.5 million, I have 2 non-negotiable demands:
1. A parking spot
2. A trout stream (stocked with trout, with an auld Scottish crofter who will show me how to catch them)
yeah, i think a million sounds excessive as well.
people are jumping to conclusions.
if the mechanicals, roof are all in good shape, you can easily redo the interior for 500-700K and do a super high end job.
montgomery place is such a freakin nice block. someone will fall in love. this looks like a real gem.
Just curious as to why everyone, even brownstoner, is assuming you have to put at least 1 million into this house. Seems like an awful lot of money for a renovation, especially if you’re already paying $3.5.
8:15 must be that eccentric dude who owns the house. What’s the problem?