Real Estate

The Montgomery Place Home That Went From $20,000 To $4 Million


45 Montgomery Pl via Citi Habitats

Passing up the suburbs for a $20,000 limestone townhouse in 1966, native Brooklynites Chuck and Cindy Nemser are now ready to sell the place, and for quite a higher price. After 48 years there, their home at 41 Montgomery Place is on the market for $4 million.

At the time, their friends thought they were crazy — and the family says they did deal with some crime, from pickpockets and break-ins to an attack on their daughter in Prospect Park. Things did, of course, change over time — not that the Nemsers care much for the new stuff, as they tell the Daily News:

But like generations of Brooklynites before them, they spent most of their free time in Manhattan, avoiding such institutions as the Tea Lounge and the Food Co-op.

“Who has the time to work those shifts?” Cindy says. “And I don’t see what all the fuss is about with Al Di La. I’d much sooner be dining out at Lutèce.”

45 Montgomery Pl via Citi Habitats

If in another 48 years the price is to have the same sort of increase as what the Nemsers are seeing, the home could be listed for $800,000,000 in 2062! True, that seems pretty crazy, but imagine what $4M sounded like to the Nemsers when they bought the place.

Of course, it’s not the only home currently for sale on the street. The 7-bed, 7-bath mansion at 45 Montgomery Place has been at $14M since coming on the market in September, and the lovely five-story limestone at 26 Montgomery Place is listed for $5.79M. Do you think these three addresses will move at these prices?

The Nemsers’ neighbor Peter Orenstein, who bought 42 Montgomery Pl for $62,500 in 1972, may be one person hoping so. He told the Daily News he’s ready to move, “but not for less than $5 million,” so keep an eye out for that future listing if you’re in the market.

Photos via Citi Habitats

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