--- title: "588 Monroe Street, New York City, NY 11221" description: "588 Monroe Street, New York City, NY 11221 — Townhouse in Bedford-Stuyvesant, Brooklyn, NY. Listing Price $1,599,000. In contract 6/9/2026. 5 bed, 3 bath, 2,241 sqft Illustrative Buyer Commission Share of $23,985 at closing, based on a 3% buyer-broker commission." url: "https://realestaterebatesnewyork.com/new-developments/newyorkcity/brooklyn/11221/588-monroe-street-ny-11221" source: "Real Estate Rebate Team" dateModified: "2026-08-24T19:36:31.070Z" status: "Pending" --- # 588 Monroe Street, New York City, NY 11221 Townhouse in Bedford-Stuyvesant, Brooklyn, NY Courtesy of Corcoran Group Last updated: August 24, 2026, 3:36 PM ## At a Glance - **Listing Price**: $1,599,000 - **Status**: In contract 6/9/2026 In Contract/Lease Signed indicates an offer has been made and accepted by the seller/landlord, with the deal pending completion. - **Beds**: 5 - **Baths**: 3 - **Sqft**: 2,241 - **Monthly Taxes**: $339 / mo - **Price per Sqft**: $714 - **Brokerage Fee**: Share Eligible ## The Private Brokerage Advantage As an independent luxury buyer representative, Régis shares 50% of the buyer-side commission he actually receives on your purchase. Eligible buyers receive that Buyer Commission Share directly at closing to offset closing costs, down payments, or renovations. The figures below are illustrative, based on a **3% buyer-broker commission**; your share follows the commission offered on the transaction. - **Contract Purchase Price**: $1,599,000 - **Illustrative Buyer Commission Share**: -$23,985* - **Illustrative Net Cost**: $1,575,015 *Illustrative Buyer Savings of $23,985 — 50% of a 3% buyer-broker commission, shared at closing.* [Request a private tour](https://realestaterebatesnewyork.com/contact) · [Estimate your Buyer Commission Share](https://realestaterebatesnewyork.com/calculators/buyer-closing-cost-calculator) ## Photos (10) ![588 Monroe Street, New York City, NY 11221 — photo 1 of 10](https://realestaterebatesnewyork-bucket.nyc3.cdn.digitaloceanspaces.com/33ed9ff3-bc6f-479a-8930-e6516314cdd7.jpg) ![588 Monroe Street, New York City, NY 11221 — photo 2 of 10](https://realestaterebatesnewyork-bucket.nyc3.cdn.digitaloceanspaces.com/c9666d4c-de07-4b8d-b70a-5a0fd0a9a3be.jpg) ![588 Monroe Street, New York City, NY 11221 — photo 3 of 10](https://realestaterebatesnewyork-bucket.nyc3.cdn.digitaloceanspaces.com/0be11155-bfd6-438a-8394-8d958d37d978.jpg) ![588 Monroe Street, New York City, NY 11221 — photo 4 of 10](https://realestaterebatesnewyork-bucket.nyc3.cdn.digitaloceanspaces.com/f45a6449-9bea-44b3-a540-0bca745a7e55.jpg) ![588 Monroe Street, New York City, NY 11221 — photo 5 of 10](https://realestaterebatesnewyork-bucket.nyc3.cdn.digitaloceanspaces.com/852d5961-36c9-415e-aac7-95f73dfd69e0.jpg) ![588 Monroe Street, New York City, NY 11221 — photo 6 of 10](https://realestaterebatesnewyork-bucket.nyc3.cdn.digitaloceanspaces.com/d2444044-8bc7-40cd-9ab5-fc3137bad519.jpg) ![588 Monroe Street, New York City, NY 11221 — photo 7 of 10](https://realestaterebatesnewyork-bucket.nyc3.cdn.digitaloceanspaces.com/55515294-87d1-432c-a21b-6504e665c889.jpg) ![588 Monroe Street, New York City, NY 11221 — photo 8 of 10](https://realestaterebatesnewyork-bucket.nyc3.cdn.digitaloceanspaces.com/2a72d171-0d99-41c7-ba58-a279174c093e.jpg) ![588 Monroe Street, New York City, NY 11221 — photo 9 of 10](https://realestaterebatesnewyork-bucket.nyc3.cdn.digitaloceanspaces.com/1bb121cf-ef43-41aa-a3a9-200715bcaa6a.jpg) ![588 Monroe Street, New York City, NY 11221 — photo 10 of 10](https://realestaterebatesnewyork-bucket.nyc3.cdn.digitaloceanspaces.com/6868174b-70b8-4949-b721-31492bc258db.jpg) ## Property Overview The One You Make Your Own. Some houses arrive finished. Others arrive with something better: good bones, honest character, and room to become exactly what you need. 588 Monroe Street is the latter - a classic two-family Bedford-Stuyvesant townhouse that has remained in the same family for generations, cared for over time, and now ready for your next chapter. Offered at an approachable entry point for townhouse buyers, this is the kind of opportunity that has become harder to find: a home with solid fundamentals, real architectural charm, and the flexibility to improve now, later, or over time. Built 18.67 feet wide on a 100-foot lot, the home spans approximately 40 feet deep with additional unused FAR of roughly 1,494 square feet, creating the potential to expand if desired. The current configuration is the classic Brooklyn setup: a garden/parlor owner's duplex with approximately 2.5 bedrooms and 2 baths, plus a 1.5-bedroom,1 Bath upper residence above. What makes this property especially compelling is what hasn't happened here. It has not been over-altered, awkwardly chopped up, or neglected beyond repair. Instead, it remains structurally sound, functional, and move-in ready, with key systems, plumbing and electric, in working order. The family has lived here comfortably for years, maintaining the home and preserving the next owner from the kind of overwhelming gut renovation many townhouses require today. Inside, there is a layered mix of old and new. Original details still speak throughout the home: ceiling medallions, ornate plasterwork, decorative wall and ceiling designs, the original staircase and banister, and beautifully preserved touches like the plaster ribbon detailing that carries through the foyer and stair hall. Kitchens and baths have seen updates over the years, offering usable spaces today while leaving room for cosmetic improvements tomorrow. That is the key differentiation here: this is not a rescue project. It is a canvas. A house where a thoughtful renovation can honor the past while bringing the interiors into the present. Live in one unit while improving the other. Refresh room by room. Reconfigure as a magnificent single-family. Or maintain the two-family setup and enjoy the flexibility that comes with it. And then there is the block. Located in the coveted Stuyvesant Heights section of Bedford-Stuyvesant, between Lewis Avenue and Stuyvesant Avenue, this stretch of Monroe is lined with handsome turn-of-the-century townhouses, mature trees, and the kind of streetscape that defines classic brownstone Brooklyn. When paired with amazing transportation, chic eateries, and dynamic shops, it feels residential, rooted, and ready to be deeply loved. This is the chance to buy the house with the right ingredients in the right place - the kind of home where doing a little can go a very long way. Find your sweet spot. ## Property Details - **Property Type**: Multi Family - **Beds**: 5 - **Baths**: 3 - **Rooms**: 11 - **Sqft**: 2,241 sqft - **Stories**: 2 - **Year Built**: 1899 - **Price per Sqft**: $714 - **Monthly Taxes**: $339 / mo - **Listed On**: May 1, 2026 - **Days on Market**: 134 Days ### Residence Features - Wall Unit(s) - Washer Hookup - See Remarks - Building Garden - Private Outdoor Space Over 60 Sqft - Entrance Foyer - Smoke Free ## Price and Property History for 588 Monroe Street Review the recorded listing activity for 588 Monroe Street, including asking-price changes and prior market dates. - **Entered contract**: June 9, 2026 | Date | Price | Listing event | | --- | --- | --- | | June 9, 2026 | $1,599,000 | Entered contract | | May 1, 2026 | $1,599,000 | Listed for sale by Corcoran Group | ## Property Tax History Taxes at 588 Monroe Street were $4,361 in 2026, up 6.0% from 2025. | Year | Tax Assessment | Land | Additions | Billable Value | Property Tax | Tax Rate | | --- | --- | --- | --- | --- | --- | --- | | 2026 (FY 2026/27) | $104,640 | $18,960 | $85,680 | $21,713 | $4,361 | 20.085% (estimated) | | 2025 (FY 2025/26) | $92,520 | $18,960 | $73,560 | $20,491 | $4,116 | 20.085% (estimated) | | 2024 (FY 2024/25) | $108,840 | $18,960 | $89,880 | $19,348 | $3,123 | 20.085% | | 2023 (FY 2023/24) | $103,860 | $18,960 | $84,900 | $19,348 | $3,123 | 20.085% | | 2022 (FY 2022/23) | $83,460 | $18,960 | $64,500 | $18,486 | $1,136 | 20.309% | | 2021 (FY 2021/22) | $82,140 | $18,960 | $63,180 | $18,094 | $1,131 | 19.963% | | 2020 (FY 2020/21) | $99,600 | $18,960 | $80,640 | $17,076 | $1,107 | 21.045% | | 2019 (FY 2019/20) | $79,200 | $18,960 | $60,240 | $16,123 | $1,027 | 21.167% | | 2018 (FY 2018/19) | $16,123 | — | — | $16,123 | $3,373 | 20.919% | | 2017 (FY 2017/18) | $15,405 | — | — | $15,405 | $3,140 | 20.385% | | 2016 (FY 2016/17) | $15,078 | — | — | $15,078 | $3,014 | 19.991% | | 2015 (FY 2015/16) | $14,230 | — | — | $14,230 | $2,783 | 19.554% | | 2014 (FY 2014/15) | $13,436 | — | — | $13,436 | $2,574 | 19.157% | | 2013 (FY 2013/14) | $13,436 | — | — | $13,436 | $2,579 | 19.191% | | 2012 (FY 2012/13) | $12,838 | — | — | $12,838 | $2,384 | 18.569% | | 2011 (FY 2011/12) | $12,565 | — | — | $12,565 | $2,287 | 18.205% | | 2010 (FY 2010/11) | $11,859 | — | — | $11,859 | $2,059 | 17.364% | The City has not published the official FY2026/27 and FY2025/26 tax rates yet. We calculated the tax for those years using the prior year’s rate, so treat them as an estimate rather than a figure the City has adopted. Every rate without the Estimated marker is the published one. Tax Assessment is the assessed value on the City’s roll, and it is the figure other listing sites publish. It is not what the bill is calculated on. New York phases assessment changes in gradually for some tax classes, so the City bills the Billable Value shown beside it, less any exemption the owner holds. It usually trails the assessment, and it can sit above it for a few years after an assessment falls. Figures are the New York City Department of Finance assessment roll for tax lot 3016400036. Assessed and billable values are determined by the City for tax purposes and are not an appraisal or an estimate of market value. Tax classes and rates are set annually and can change. [How we source and calculate NYC property tax data](https://realestaterebatesnewyork.com/nyc-property-tax-data-methodology) ## About The Building ### 588 MONROE Street 588 MONROE Street, Brooklyn, NY 11221 A building in the neighborhood, currently featuring 1 active listing. - **Year Built**: 1899 - **Total Units**: 1 - **Floors**: 2 [View the building page](https://realestaterebatesnewyork.com/buildings/new-york-city/brooklyn/588-monroe-street) ### Available Residences — For Sale (1) | Unit | Beds | Baths | Size | Price / Ft² | Price | Listing Office | Listed Date | Days on Market | | --- | --- | --- | --- | --- | --- | --- | --- | --- | | [N/A](https://realestaterebatesnewyork.com/new-developments/newyorkcity/brooklyn/11221/588-monroe-street-ny-11221) | 5 | 3 | 2,241 sqft | $714 | $1,599,000 — In contract | Corcoran Group | May 1, 2026 | 133 days | ## Estimated Monthly Payment **$8,424 / month**, assuming a 20% down payment ($319,800), a 6.5% interest rate and a 30-year term. The page's calculator lets a buyer change all three. - **Principal & Interest**: $8,085 - **Property Taxes**: $339 Estimates only. Actual payments may vary. Confirm terms with your lender. ## Bedford-Stuyvesant Explore more real estate and insights about Bedford-Stuyvesant. [Explore Bedford-Stuyvesant](https://realestaterebatesnewyork.com/neighborhoods/new-york-city/brooklyn/bedford-stuyvesant) · [All Neighborhoods](https://realestaterebatesnewyork.com/neighborhoods) ## Related Links - [588 MONROE Street — building page](https://realestaterebatesnewyork.com/buildings/new-york-city/brooklyn/588-monroe-street) - [Bedford-Stuyvesant neighborhood guide](https://realestaterebatesnewyork.com/neighborhoods/new-york-city/brooklyn/bedford-stuyvesant) - [Estimate your Buyer Commission Share and closing costs](https://realestaterebatesnewyork.com/calculators/buyer-closing-cost-calculator) - [Contact Régis Roumila](https://realestaterebatesnewyork.com/contact) --- > RLS IDX Data display by Real Estate Rebate Team. This information is not verified for authenticity or accuracy and is not guaranteed and may not reflect all real estate activity in the market. ©2026 The Real Estate Board of New York, Inc., All rights reserved. IDX information is provided exclusively for consumers’ personal, non-commercial use and it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. > All information furnished regarding property for sale, rental or financing is from sources deemed reliable, but no warranty or representation is made as to the accuracy thereof and same is submitted subject to errors, omissions, change of price, rental or other conditions, prior sale, lease or financing or withdrawal without notice. All dimensions are approximate. For exact dimensions, you must hire your own architect or engineer and the number of bedrooms listed is for informational purposes and is not a legal conclusion. Please consult with your own architect or engineer for exact dimensions and legal specifications.