House of the Day: 52 Montgomery Place Revisited
If you’re the owner of the gorgeous house at 52 Montgomery Place, it hasn’t felt like Brownstone Brooklyn’s been immune to the weakening national market. This 5,238-square-foot nine-bedroom first hit the market with Corcoran last April (when it was a HOTD) for $3,675,000. After four months without a deal, the owner jumped ship to Douglas…
If you’re the owner of the gorgeous house at 52 Montgomery Place, it hasn’t felt like Brownstone Brooklyn’s been immune to the weakening national market. This 5,238-square-foot nine-bedroom first hit the market with Corcoran last April (when it was a HOTD) for $3,675,000. After four months without a deal, the owner jumped ship to Douglas Elliman, clinging to the original asking price. A month ago, however, the asking price was trimmed to $3,300,000. We’d think this would be in the right ballpark (despite the fact that 60 Montgomery Place remains unspoken for at $3.450,000) but still no signed contract. What do you make of that?
52 Montgomery Place [Douglas Elliman] GMAP P*Shark
52 Montgomery Place [Brownstoner]
This house can be in your dreams! Waiting no longer for chance to live in palace of magnificant with room for 10 children or more! Park Slope is most warm of all the Brooklyn neighborhoods and they like foreigners. Buy this dream-palace today for rediculous low price of $3.4 million worthless U.S. dollars. Arabs, Chinese and Russians welcome. Call me!
Only in NYC would someone say you had to sink a million into this place to make it livable.
My god. This is a GORGEOUS HOME. It might need some work, but certainly not a million dollars.
Come on man.
Are they including the completely underground basement in the “Over 5000 sf of grand proportioned rooms?” It seems the only way to get close to that figure.
1 million into it?
You’re absolutely out of your mind.
Well, considering you probably have to put about 1 million into it, I don’t see how it’s such a great deal if it’s only worth 5 million in 10 years.
it’ll be 5 million in 5-7 years.
Honestly, if someone snatches this up for 3.3 million or less, I think they’re getting a deal.
Once the market swings back up, this place will go for 5 million in 10 years, tops.
well since this went on the market in april, well before anything was even mentioned about the credit crisis or anything of the sort i don’t see how this house not selling (and others nearby selling after the credit woes) signify that the market is softening.
i’m not saying it’s not softening, but taking this house as that example seems like faulty logic to me.
personally as someone who lives near here and sold my studio for 80K more than I paid for it last year, it does not appear to be softening but i’m sure others have difference experiences.
I am actually happy to hear that people are not throwing millions at these houses as readily as they were last year.
Maybe things are coming down to earth.
A soft landing?