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closing at 166 Montague

Started by OS2010
about 16 years ago
Posts: 3
Member since: Dec 2009
Considering buying at 166 Montague but need to time with the end of our current lease. We've been told closings will happen soon, but don't know how true that is (and we have to decide to renew or not). Any buyers out there who can verify this? Thanks!
Response by ProperService
about 16 years ago
Posts: 207
Member since: Jun 2008

Overpriced. The shared living and dining room is too small, especially for the larger 2 bed and 3 bedroom. On the corner of the busy and noisy north bound one way Clinton Street. If the windows were laminated glass, it would have helped with the street noise. Another drawback is that the subway entrance for the R is right outside the front door.

It is a good looking building though. Prices need to come down to around $650 - $850 psf while still maintaining high standard of craftsmanship, though I'm not sure there is any attention to detail in the development - like most new construction / new conversions.

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Response by somewhereelse
about 16 years ago
Posts: 7435
Member since: Oct 2009

over $1k psf.... sorry, but thats the quickest way to lose money.

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Response by villager
about 16 years ago
Posts: 149
Member since: Apr 2009

The finishes are as horrible as the location

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Response by somewhereelse
about 16 years ago
Posts: 7435
Member since: Oct 2009

actually, thats a pretty nice location if its brownstone brooklyn you want.

Clinton st. is pretty, and its a block from borough hall.

You're blocks from the most expensive blocks in Brooklyn.

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Response by tina24hour
about 16 years ago
Posts: 720
Member since: Jun 2008

OS2010 - if you need a later closing date, just ask for one. See if they're willing to wait to close - my guess is that they will. The key for them is to get as many units into contract as possible so that they can begin closings as soon as they get the certificate of occupancy. As long as your request isn't egregious (you don't want to wait a year, right?), they may grant it just to get you to sign now.

Your landlord may agree to a month-to-month lease rather than making you renew. Many landlords are understanding, especially if you're paying market rate, pay on time, and are generally a good tenant.

Tina
(Brooklyn broker)

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Response by OS2010
about 16 years ago
Posts: 3
Member since: Dec 2009

We agree the PSF is a little high, but plan to live there for at least a couple of years. So between the location, being a Condo (unusual for the Hgts) not to mention just a beautiful building, we thought it could be a good situation looking ahead. Would love to hear more thoughts.

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Response by Trompiloco
about 16 years ago
Posts: 585
Member since: Jul 2008

Hahaha: "price is high but we plan to live there for a couple of years" Are you for real? How many is a couple for you? I mean, in three years it could easily be worth less? And you're thinking of selling it "in a couple of years" or maybe renting it out. And you're asking our opinions? OMG.

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Response by OS2010
about 16 years ago
Posts: 3
Member since: Dec 2009

Trompiloco, I didn't say we signed already, but shared some of what we think are positives. Everything you mentioned have of course also go through our minds. This is exactly why I want opinions.

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