127 & 136 W 123 Are Adding Floors

A year or so the Mount Morris Park Community Improvement Association began work to try to get the blocks between Lenox and Adam Clayton Powell landmarked. Currently they’re recognized by the National Register of Historic Places, but not by NYC’s Landmark Preservation Committee.

mount morris historic district map with extension shown

The gray area is the part that’s landmarked, the blue area is on the National Register, but not landmarked – that’s the part MMPCIA has been working to get landmarked.

Well, on our block it’s a bit too late… Two buildings on the block are adding stories – something they wouldn’t be allowed to do if they were landmarked. The two buildings are 127 West 123 and 136 West 123. I’m fine with 127 adding a floor, but I’m really disappointed to see 136 add a floor…

127 West 123rd Street

127 West 123rd Street is one of two old townhouses that are sandwiched between the two halves of the Windows on 123 condos. Windows on 123 maxes out the possible building height and sorta dwarfs the townhouses. So from my perspective it’s not horrible that floors are added to the townhouses… Here’s a photo right after they started adding the floor…

127 west 123rd street

I wish they had set the extra floor back a little, but given what it’s up against, it’s not horrible… Here it is again as a 3D drawing…

127 w 123 3D drawingActually, I’m a little surprised 75′ is the max height on a 60′ wide street – but that is what it is…

136 West 123rd Street

In contrast to 127, 136 West 123rd Street is one of 16 continuous brownstones that have not been altered. Adding a floor to it is a much bigger deal since it breaks something that still has the potential to be pristine…

Brownstones on West 123rd Street between Lenox and Adam Clayton Powell

I’m really disappointed that the view you see above is going to be marred by an extra story on top of one of those buildings. Not only are they going up a floor, but they’re pushing the back wall back to the maximum 65 feet with the minimum 30 foot rear yard…

136 west 123 street 3D drawingIf we had been landmarked LPC could have mandated that the additional floor be set back far enough that it not be visible from the street. At least there’s some set back (6′ 6″), but a 10 or 15 foot setback would have been so much nicer.

As sort of a side note, 136 W 123 was for many years the neighborhood hangout – mostly older (Belizian?) guys with who were pretty big into music. (We even bought a couple CDs off one of the guys – and they weren’t bad). There used to be a social club in the ground floor which had it’s ups and downs. The guy who lives behind them on 122nd Street still has a bullet hole in his window thanks to that club. When the club closed they just moved their socializing onto the stoop. They’re generally good guys, but their hanging out got pretty loud. Just the other day one of the neighbors I “met” due to the RCN incident told me she got only 4 hours of sleep a night during the summer because they were so loud. So 136 being renovated will really change the block since it was one of the remaining centers of the old culture on the block.

Back when MMPCIA started their push to get the blocks between Lenox and ACP landmarked, I wasn’t so keen on the idea. I still don’t think landmarking is warranted for the north side of our street which already feels like it has three zilliion styles of architecture. But as I thought about it, the unbroken row of 16 brownstones on the south side of the street was worth protecting – but once 136 gets rehabbed, that purity will be gone. We can never go back to what it used to look like.

The architect seems like he’s got it in him to do a decent job. I just hope his client is spending the money to execute a good design. If we’re going to have a visible addition marring the view – please, just let it be fairly well designed.

UPDATE:

I went to see the Windows on 123 lofts yesterday and looking down I could see that there were already additional floors added to some of the brownstones on the south side of the street. Here you can see that 132 West 123 has an extra floor added already…

132 West 123 additional floor added

That’s a rather large amount of “stuff” that was added and it’s fairly close to the edge – yet it’s not readily visible from the street, so I’m hopeful that the additional roof on 136 won’t be visible either. [136 is the one two doors down with the blue tarp.]

152 West 123 also has an extra floor, but it’s stepped back further and features a bigger/nicer roof deck off what I assume is the master bedroom…

123rd street roofs

I just find it really odd that they had the money to add an extra floor, but not enough to restore their cornice.

[In the picture above you can see our bulkhead in the distance. It looks pretty small compared to everything else…]

So seeing that there are already several with extra roofs added, I’m far less worried about roofs being added – though I’m hoping none get added on 122 that would block our view 🙂

105 West 122nd Highest Sale Since Crash – $2.85M, $670/sq. ft.

Well, the high end of the Harlem townhouse market is certainly doing well – especially in Mount Morris Park. First 30 West 120 sold for $2.5M ($568/sq. ft.), now 105 West 122 just sold in less than 3 months for $2.85M – a whopping $670/sq. ft. Those sales aren’t outliers – The Wall Street Journal is even writing articles about the rise in prices in Harlem.

Admittedly there’s a lot to like about 105 West 122nd Street… It was recently converted to single family and prices for single family townhouses are typically higher than multi-family. Single family homes are luxuries and people pay good money for luxuries. The place is also a generous 19 feet wide with about 4,256 sq. ft. (including exterior walls) – 1,064 sq. ft. per floor, which is big.

The interior renovation appears to have been pretty much perfect. This bathroom is beautiful…

great bathroom in Harlem townhouse - 105 West 122nd StreetThe kitchen looks like it might be European modular ($$) of some sort…

beautiful kitchen in Harlem townhouse - 105 West 122nd StreetAnd you can see there’s a wonderful blend of traditional elements and contemporary living – which is what buyer’s want…

living room of 105 West 122 in Harlempoorly rehabbed newel post at 105 west 122That said, at $2.85M and $670/sq. ft I expect perfection and there are things about the exterior that I personally find a little disappointing… Case and point is the newel post you see in the picture to the right – they didn’t restore the original ornamentation. The sister townhouses on either side have their detail intact – there were examples of what it should have looked like, but the previous owners didn’t take the time to do the work. Not a big deal, but at this particular price point I’d expect it to be done (30 West 120th’s façade work was impeccable). Also the façade is painted – which is something you do when you’re cutting corners to stay on budget (like we are with our place).

Then there are the windows – they’re just inexpensive aluminum windows (see picture below). They’re in good condition, but at this price point I expect better quality.

aluminum windows at 105 west 122

All in all it’s a great place with an excellent renovation (at least inside). It shows that if you spend time to do a good renovation it will come back to you when you go to sell. I get the sense that some people think we’re being a bit fussy about some of the details in our renovation, but a slightly higher budget and attention to detail really do pay off in the long run.

With the high end going up, the question is what will happen to the low end? Restrictive lending is holding down the prices at the low end for now… It’s a great time for all and mostly cash buyers to be buying and renovating…

We Found The House Our Doors Came From

We purchased some parlor entrance doors from Demolition Depot recently. I wanted to document them a bit more to justify their appropriateness to the National Park Service. I started by looking at the Landmarks Preservation Commission’s “Rowhouse Manual” which starts off talking about the different styles of townhouses. I learned that our townhouse is “Neo-Grec”…

Neo-Grec Style…while many others in Harlem are Renaissance Revival…

Renaissance Revival Style

Our place was built in 1884 – so right at the end of Neo-Grec and just after the start of Renaissance Revival.

Things started falling into place when they showed the pictures of Neo-Grec and Renaissance Revival doors…

Neo-Grec vs Renaissance Revival DoorsNotice how structured the Neo-Grec doors are and also notice how the Renaissance Revival doors have what I’ll call “storm doors”. If you go into enough Harlem townhouses you’ll notice some have two sets of doors on the exterior – one set that opens out, and another an inch or so inside that open inwards. Then after those two there is another interior set.

Tying things together even further… I was researching a property near 127th & 8th for a client (a troubled SRO). The property was built in 1880/1881 (there are two “new building” actions listed for the property on DOB’s website). And when I zoomed in on a picture I took I realized the doors were almost identical to the doors we bought at Demolition Depot. There are 4 houses in a row that all have very similar doors, plus two other in the set of townhouses that have had their doors removed.

127th Street DoorsCompare that to the doors we’re restoring…

Old townhouse door we'll be restoring

The only difference is the top – the bottoms are identical. Thing is our house doesn’t have arched doors – they’re completely square – so the builder/architect/supplier tweaked the design in the 3-4 years between the buildings on 127th and when they built the townhouses on 123rd.

Then Dan peeked through the window on one of the townhouses and voilà, there were doors completely identical to ours. So the doors we’re restoring/using were the interior entrance doors for one of these townhouses (or the interior doors for one of the townhouses in our set of 7 on 123rd – but our block has had a much harder history and doesn’t have many original details left). One of the houses on 127th had had it’s doors replaced – so we think our doors may have come from 272 West 127th Street.

Plus our contractor keeps telling us the doors fit so well into the old door frame that it’s like they were taken out of our building. Now we know that’s pretty close to the truth – seems they were taken out of a slightly older sister building just a few blocks away – probably built by the same architect and/or builder.

Taking things further… There’s an uncanny resemblance between the stoops on 127th and the stoops on 123rd. Here’s a picture of what our stoop looked like in 1940…

Our Stoop 1940And here’s the stoop of one of the houses on 127th…

127th Street Newel PostsThe balusters are slightly different, the railings are the same. The newel posts on 127th have more ornamentation, but they’re same general shape. The one to the right is the more complete newel post. It seems the post on the one to the left lost it’s finial (top) so they took the bottom of the finial and turned it upside down. Ours had finials but lost them before 1940. In the tax photo of the house next door we can see the house two doors down from us still had its newel post finials in 1940 and they’re much like the ones that still exist on 127th Street…

newel post inials 164 W 123rd StreetSo there you have it… We see that apparently the same builder and/or architect built a set of six houses on 127th Street near 8th Avenue (FDB) in 1880/1881 and then tweaked the plans and built the set of seven slightly narrower and taller ones on 123rd near 7th Avenue (ACP) three to four years later in 1884. And as fate would have it we seem to have gotten one of the doors from the earlier set of houses to use as the front door for our house.

Good Day: 243 W 120 Sells, Our Windows Clear Customs

It was a VERY good day yesterday. Our windows had come arrived in port Thursday morning, and managed to clear customs in a single day. Given all the other delays on our project I was half expecting to hear that there would be a 3 or 4 week hold for customs inspection. They’ll probably be delivered on Tuesday morning. Getting the building closed up will be a major step for us…

243 West 120th Street, HarlemBut the really big news is that 243 West 120th Street closed yesterday – just in the nick of time – it was the last day before the loan limits dropped over $100K – so things went right down to the wire.

I feel a bit of accomplishment with this sale… I had done a blog post ages ago (April ’10) about how I thought the place was an excellent opportunity. Location is just incredible – it’s just steps from everything that’s new and exciting on 8th Ave / FDB, and it has a really high FAR for anyone who wants to add space. It took about a year for the blog post to get noticed, but early this year I started hearing from blog readers that they saw the post and were interested in the house. One contacted, me, then another, then another…

In the end it was a bit of a battle between two of those three blog readers to get the house. One of them was working with the real estate agent we used when we sold/bought, the other went directly to the owner through a social contact. The one working with our agent contacted me on June 20th saying “…so it looks like we got the house…”, then on July 10th the reader who had gone directly to the owner contacted me and said “we signed a contract on the house on 120th last week”. I was a little flabbergasted that two people thought they had it and I knew both of them. Turns out the listing agreement had just expired so the seller was able to sell the place without paying a commission.

For those of you who are curious – the sales price was $620K plus a few thousand in other concessions to the seller. That works out to about $182/sq. ft. The place is possibly in worse condition than ours was when we bought it since demolition has not been done yet. But it did have a certificate of no harassment and it had approved plans with active permits to convert to single family – so it was pretty much ready to go.

You can see from the pictures I took nearly 2 years ago that needs tons of work…

243 West 120th Street hallway and stairs243 West 120th Street original details243 West 120th Street hallway243 West 120th Street top floor

Given the location and the fact that shells south of 125 are getting very hard to get, I think the new owners got it for a good price. They could do a $1M renovation and not over-invest.

It was a nail-biting closing. It turns out there was a lien on the property that was rather sizable and when push came to shove there wasn’t enough money to pay off the seller’s mortgage. No one was expecting it to be a short sale and people had to scramble to get the seller’s bank to approve the sale in time for the buyers to get their loan before the loan limits went down. It almost didn’t happen, but after a 5 hour closing on the last possible day, it did finally go through.

And after all that the new owners went to the house last night to check things over and left covered in fleas! So job #1 is to get rid of the fleas…

What Things Are Selling For In “High Five”

It’s getting really hard to find $500,000 shells around Mount Morris Park. I have a couple of clients who would love one (even a more expensive one) but the shells are getting bought up quickly and the few remaining aren’t for sale (or have huge complicating factors).

So the question then becomes where else can one get an inexpensive shell that’s a good investment? There’s a quaint little neighborhood just north of 125 on either side of 5th Avenue. A few of the townhouses in the area are just stunning – far more interesting than what you see in other parts of Harlem…

Upper 5th Avenue ArchitectureHigh Five ArchitectureBecause it straddles the line between Central Harlem and East Harlem it’s a bit hard to describe the neighborhood – is it East Harlem or Central Harlem? Apparently some people call the area “High Five”. Think what you want of the label, but it’s clearly a distinct little neighborhood that needs a proper name.

To me the boundaries of the neighborhood are Lenox Avenue to the west (but not including Lenox), probably Madison to the East (both sides), 126th to the south, and 130th to the North.

Map showing the High Five neighborhood in HarlemThe north and east boundaries are a little fuzzy though… To the east there are a few blocks between Madison and Park that might fall into High Five (since they’re generally consistent with the High Five aesthetic, and don’t fall into any other neighborhood). Facade of the Langston Hughes House - 20 E 127And to the north 130th is Astor Row which is a distinct area – it’s possibly part of High Five but also a distinct area of its own. By the time you get to 131 the blocks become dominated by apartment buildings – there are a few townhouses, but the core of the High Five character is lacking.

Unfortunately the area isn’t landmarked nor is it on the National Register of Historic places. The only townhouse that’s landmarked is the Langston Hughes House – 20 East 127 between 5th and Madison (see picture to the right). The Langston Hughes House is an incredible place that desperately needs an owner that will love it, care for it, and do a historically appropriate renovation (the original detail is incredible). Unfortunately it has a rather troubled past…

I went through a place close to there with a client the other day and afterwards I pulled comps and was rather shocked at how reasonable the prices are…

Exterior of 1990 MadisonIn the past year two SROs (class C5 buildings) sold in High Five… 1990 Madison was the most recent (4/8/11). We went through it twice when we were looking for a place – it took a long time to sell. It’s a big, wonderful ark of a house (see pic on right) that was in habitable but rough condition. It had high taxes, no certificate of no harassment and there was trouble with drug addicts in the house next door (which has since been resolved). It sold for $525K which works out to be $97/sq. ft.

[Notice the new owner of 1990 Madison is rebuilding the stoop with granite. Sure, it will last forever, but it’s a completely odd material to mix in with brownstone. Stopping choices like that is what landmarking is all about – but the area isn’t landmarked]

66 East 127th Street in East HarlemThe other SRO that sold was 66 East 127 (see pic of red brick building to the right). It sold for $300K back in February which works out to be $83/sq. ft. It’s on the other side of Madison, across the street from a large school, outside of what I’d consider to be the core of High Five. I can’t find any evidence it was up for sale. There was a foreclosure AND a tax lien the year before and then what seems to be a pretty quiet sale this year. Still, it’s price per square foot is inline with the price paid for 1990 Madison, though this might be some sort of inside deal and not reflect market price. It is vacant, and the new owners apparently want to flip it (according to one of the guys on the street).

8 West 127th Street, HarlemEven at the higher end – 8 West 127 (5 family) sold a month ago for $1.6M (see pic on right – the 5 story place with no cornice), which may seem like a good price but it’s got 7125 sq. ft. (19 x 75 x 5 story), so the price per square foot was just $225/sq. ft. – and that’s fully renovated – they even added a floor during the renovation.

I pulled a lot of other comps and all tell pretty much the same story. Even the luxury condo on 127 just off Lenox is only selling for $395/sq. ft. and condos typically sell for more than townhouses (on a $$/sq. ft. basis). So I view $400/sq. ft. as the ceiling in High Five, though I could see one of the fabulous ones on 5th Avenue selling for more.

2107 Fifth Avenue, HarlemThe highest townhouse comp I could find was 2107 5th Ave (4 family, renovated – see pic of light colored townhouse to the right) which went for $1.15M (roughly $295/sq. ft. – it has an extension, so actual square footage is a bit fuzzy). A client of mine went through it and said some parts of the renovation seem really well done, other parts feel cheaply done. His guess was that the owners started a high end renovation and then ran out of money mid-way through at which point they started cutting corners.

11 E 127 (3 family, fully renovated) went for slightly more – $1.175M, but it’s price per sq. ft. was lower @ $268/sq. ft.

There were no sales of one and two family homes in High Five in the past year. (Well, there was one but it appears to be one owner buying out another owner – so it’s not a proper comp.) One and two family homes sell for more than 3 and 4 family homes, so it’s completely possible something will sell in the $400/sq. ft. range – it just hasn’t happened recently.

The comps all make sense… Renovated places are selling for $150-200/sq. ft. more than shells and renovating a shell costs about $150-200+/sq. ft. depending on the condition of the shell.

The neighborhood isn’t as established as places like Mount Morris Park, but with Red Rooster opening up at 126 & Lenox, and a nice grocery store going in at 129 & Lenox, and Wild Olive on 125 just east of Lenox – things are picking up. Personally I feel as though it’s a great long-term place to invest if you buy on the right block. But prices are likely to be more volatile than they would be in more established neighborhoods – so buyers need to be careful about when they buy and sell.

I should also mention the people in High Five are incredibly friendly. A friend/client of mine was sitting on a stoop over at Madison between 129 & 130 a week or so ago when a manhole blew directly in front of him. The fire department and ConEd were called and all the neighbors came out onto the street. He and I spent nearly 2 hours with them and I have to say everyone was warm, welcoming and pretty great. I’m sure your experience will vary block to block, but there are some great places to live in High Five.