10 Montgomery Place (Montten Slope)

The corporation owns two buildings on one lot: the Eighth Avenue building at the corner and 10 Montgomery Place on the side street. Department of Buildings filings mostly count 24 apartments on the Eighth Avenue side and 16 on Montgomery Place, the original 40 (individual filings vary by one or two). Combinations have since brought the residential count to 33, per the 2018 audit. Combined apartments show up in ACRIS as double-letter units.

Both buildings are walk-ups, with no elevator. A superintendent's apartment in the basement was kept out of the offering. The house rules require at least 80 percent of each apartment's floors, outside kitchens and baths, to be carpeted or covered with sound-reducing material. The rules also refer to assigned storage units and a shared courtyard.

The audited statements on file, for the fiscal year ended June 30, 2018, show a small, stable corporation:

• Maintenance of about $397,000 a year, with a 1 percent increase effective August 1, 2016.
• Real estate taxes of about $201,000 — about half of operating costs.
• Reserves of about $471,000. The governing documents do not require a reserve, and no reserve study has been done.
• No special assessment in effect as of the statements.
• The sponsor still held 728 shares, about 4 percent of the total.

The 2017 refinance paid off the prior $1.5 million loan and raised $450,000 of new money; about $364,000 was moved into reserves. The statements also show an "abatement assessment" of about $54,000 a year billed to shareholders. This indicates the corporation bills back some or all of the co-op tax abatement; confirm how it works now with the managing agent.

• Admission: The board's application asks for two years of tax returns, recent pay stubs, bank and checking statements, an employer letter, two references (one from a prior landlord), the contract of sale and a mortgage commitment. A credit check comes before the board reviews the application or schedules an interview, per the application on file.
• Subletting: One- or two-year sublets with a fee, then a five-year bar on subletting again.
• Pets: Written board approval first; breed limits for insurance.
• Alterations and laundry: Washer/dryers only by alteration agreement; construction noise weekdays 8:30 a.m. to 5 p.m.; moves Monday through Saturday with a deposit and fee.
• Flip tax: Collected; confirm the current rate.

The application and house rules on file are older. Confirm every item with the managing agent at offer stage.

Recent sales

Recent transfers at this building, from The Roebling Research Library. Prices are the transfer amounts recorded with the NYC Department of Finance; apartment-level detail is checked against the building’s own file in The Roebling Research Library before publishing.

Market read. $/sf is measured on the latest sales with reliable square footage (2021): a median $873/sf (floor-adjusted) across 1 sale. The building has traded as recently as 2025. Median listing discount -0.2% over ask.

Sales sourced from NYC Department of Finance recorded transfers (BBL 3-01073-0005). Apartment-level facts (line, condition, asking-price context) curated and cross-verified in The Roebling Research Library. Not all transactions cross-verify with ACRIS records — sponsor and LLC purchases sometimes record at stipulated values rather than market price; square footage on co-ops is not officially recorded, figures shown are approximate.

Get the refinancing terms first. The mortgage comes due February 1, 2027. Ask for a term sheet or commitment, the new rate and amortization, and the board's maintenance projection. If the loan has closed by the time you read this, get the new terms.

Price the walk-up and the line. No elevator in either building. Floor, exposure and whether the apartment is a combination separate prices more than anything else.

Plan on landmark review for exterior work. Windows, façade and roof work go through LPC.

Know the sublet rules before you buy. One or two years, with a fee, then five years before you can sublet again. Buyers who might need to rent later should plan around it.

Lead with the architecture and the designation. A documented Montrose W. Morris building inside the historic district, a block from Prospect Park West.

Answer the mortgage question in the listing package. Buyers' attorneys will find the 2027 maturity in the financials. A managing-agent letter on the refinancing status keeps it from slowing the deal.

Market combinations as the scarce product. Combined apartments are the largest units in the building and have few equivalents in walk-up co-op stock nearby.

If you're considering 10 Montgomery Place, also evaluate:

• 27 Prospect Park West — the 1928 park-front co-op across Montgomery Place, outside the district, with its own mortgage maturity to underwrite
• 35 Prospect Park West — Emery Roth's 1929 co-op on the same block, facing the park
• 140 8th Avenue — the 1936 Art Deco co-op at Carroll Street, one block north on Eighth Avenue
• 90 8th Avenue — Sugarman & Berger's eleven-story 1927 co-op at President Street, inside the district
• 814 Carroll Street — the 1950 doorman co-op at 130 Eighth Avenue, one block north
• 300 8th Avenue — a 1920 elevator co-op of small apartments on the district line
• 220 Berkeley Place — a 1955 elevator co-op inside the historic district
• 412 8th Avenue — a pair of 1920 walk-ups on Eighth Avenue, converted to a condominium in 2010