Why Own a Townhouse? Part 4

An excerpt from Mondays with Dexter

Here is the next installment in our "Why Own a Townhouse" series explaining the unique strengths of Manhattan townhouses when compared to other types of real estate.

Town Houses, Town Homes

Many New York parents want their children to grow up in a "real home" instead of in a cramped apartment. They want four or more bedrooms, several levels, stairways, fireplaces, numerous bathrooms, and real backyards.

Townhouses are the best way to make this dream a reality without leaving Manhattan. Even the most expensive condos in the city can't offer growing children a backyard with a tire swing, or banisters to slide down. However, even relatively affordable townhouses offer these important childhood "amenities."

Single people and couples can benefit from living on more than one level as well. Townhouse dwellers agree that there is something psychologically healthy about going downstairs to your kitchen for breakfast, or, after an evening reading by the fireside, climbing upstairs to bed.

--Dexter

Mondays with Dexter offers an up-to-date summary of properties that are new to the market as well as those that are under contract or sold, the features they offer, and which ones fit your primary residential or investment criteria.

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141 West 81st Street on NBC's "Open House"

If you missed Dexter's tour of 141 West 81st Street on NBC's "Open House" last Sunday, you can view the segment below OR on the Townhouse Experts video page!

Special Announcement: Dexter's on NBC, Sunday 1/22 at 8:30am!

Dexter Guerrieri on location

Dear Friends -

Tune in to NBC's "Open House" this Sunday, 1/22 at 8:30am for an in-depth tour of 141 West 81st Street...guided by me.

Earlier this month, we were thrilled to work with the crew of NBC's "Open House." They filmed our exclusive listing at 141 West 81st Street from gable to garden, and I got in front of the camera to highlight the unique features of this Queen Anne-style townhouse for the "Square Feet" segment of the show. It was a wonderful experience thanks to their terrific cast and crew.

NBC's "Open House"
Sunday 1/22
8:30 a.m.
Outside the Tri-State area, check your local listings!

About Open House

Open House showcases the hottest homes on the market, interior design tips from the experts and everything you need to know about stylish living, hosted by Sara Gore. It airs on Sundays at 8:30am on NBC in the Tri-state area. Check your local listings!

The crew of OPEN HOUSE prepares to shoot 141 West 81st Street

About 141 West 81st Street

141 West 81st Street

Custom renovated in 2006, this Queen Anne townhouse offers five stories of contemporary luxury. Bold lines, a striking black and white palette, and plenty of natural light excite the eye. The elegant structure of this historic home is used to architectural advantage – bow windows, cathedral ceilings, original beams and exposed brick are found throughout. Natural light and arresting geometry add interest to every room. The completely round kitchen is like nothing else in New York. The dramatic second floor includes a floating walkway open to the floor below. The outdoor spaces are as generous and modern as the rest of the property. The upper unit benefits from a duplex terrace/roof deck, while the lower unit’s custom landscaped garden includes not only a dining area and built-in barbecue but also an adorable miniature garden cottage. A keyed, windowed elevator makes each unit accessible.

You can easily reconfigure this house into your dream single-family home. Indeed, the current owner designed this luxury renovation to accommodate a seamless transition to a single-family. However, you may also prefer to live in the owner's garden triplex/quadruplex and receive top-dollar rental income from the upper luxury duplex.

141 West 81st Street

Why Own A Townhouse? Part 3

An excerpt from Mondays With Dexter

The garden at 345 West 121st Street

Here is the next installment in our series explaining the unique strengths of New York City townhouses when compared to other types of real estate.

The Most Outdoor Space for Your Money

In Manhattan, outdoor space is at a premium. Even the narrowest terrace or the merest glimpse of a park is considered a luxury in this city.

Manhattan townhouse owners, on the other hand, often have an embarrassment of riches when it comes to fresh air and al fresco dining. In addition to the terraces and Juliet balconies often found on New York brownstones, most townhouses also offer generous roof decks and back gardens. The opportunity to landscape, plant shade trees, and even do some serious vegetable gardening in Manhattan is largely the privilege of townhouse ownership.

In short, there is no other type of housing in Manhattan that gives you as much outdoor space for your money. As long as there are nature-lovers in this city, outdoor space will continue to make NYC townhouses an especially desirable real estate investment.

Next time: The Joys of a Multilevel Home

Mondays with Dexter also offers an up-to-date summary of properties that are new to the market as well as those that are under contract or sold, the features they offer, and which ones fit your primary residential or investment criteria.

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Why Own A Townhouse: Part 2

141 West 81st Street - $6,300,000

Here is the next installment in our series explaining the unique strengths of Manhattan townhouses when compared to other types of real estate.

Romance

Owning a NY brownstone built by the renowned architects Henry Hardenbergh or Clarence True is like owning an original painting by an old master. It's much more romantic than owning a sterile new condo.

Even if your NYC townhouse doesn't have a "starchitect" pedigree, it's a part of a century-old tradition of elegance. The very sight of a row of  brownstones evokes Old New York, and the handcrafted details inside some Manhattan brownstones simply cannot be replicated with the same quality today.

New York town homes are also literally romantic: as I've mentioned before, a pair of Vandenberg buyers once proposed to each other on the stoop of the building, and later married each other at the townhouse!

Next time: The Most Outdoor Space for Your Money

New York Times Articles Generate More Buyers For Your Townhouse

 

 Elite New York City Journalists Rely On The Townhouse Experts  

When journalists need an expert opinion for a townhouse-related article, they turn to Manhattan’s townhouse expert, Dexter Guerrieri of Vandenberg–The Townhouse Experts (TM). The New York Times, New York Magazine, The New York Observer and The Real Deal join our many clients in trusting us to deliver sound advice based on over two successful decades in the Manhattan townhouse market.

As part of our exclusive Townhouse Marketing Program (TM), we also contact the media about our exclusive listings and suggest articles to help sell your property in a timely manner, for the right price. Feature articles are priceless marketing for your townhouse and drive buyers to our website.

 VANDENBERG  IN THE PRESS

2010 – 2011

“Upper West has Upper Hand.”

The Real Deal, 7/1/11

“It’s Free to Look: The It’s-Not-What-You-Think West Side Townhouse.”

The New York Observer, 5/27/11

“A $5M UWS Townhouse with a Waterfall.”

The Real Deal. 3/8/11

“House Proud.”

The Real Deal, 3/1/11

“Pets Help Sell Manhattan Apartments.”

The New York Times, 2/20/11

“The Unusual One-Room-Per-Floor Murray Hill Townhouse.”

The New York Observer, 1/3/11

"Fully Furnished with Anecdotes."

The New York Times, 12/26/10.

"Top Sales Agents of the Week,"

The Real Deal, 9/24/10.

“It’s Free to Look: 116 East 78^th street.”

The New York Observer, 9/15/2010

"On 86th Street, a Town House Awaits Former Glory,"

The New York Times, 9/2/10.

"Yikes! It's A Garage,"

The New York Times, 7/30/10.

“Splash down

New York Magazine Online, 7/10/10

"Loved. Lived In. Listed as an Estate Sale."

The New York Times, 6/11/10.

"Riverside Drive house with link to 1800s stage actor hits market at $21.5M,"

The Real Deal, 6/1/10.

“Transactions; Recent Sale.”

The New York Times, 5/26/10

"Charmed Obsolescence,"

The New York Times, 4/2/10.

"A Brush with a Beatle,"

The New York Times, 3/7/10. 

 

Go to TownhouseExperts.com for press pieces

and features on our many townhouse properties. 

Why Own a Townhouse?

An Excerpt from Mondays with Dexter

Dear Friends,

What makes townhouses so special? Why are Manhattan brownstones still desirable after a century or more?

Here is the first in our series explaining the unique strength of Manhattan townhouses when compared to other types of real estate.

Townhouses Offer Independence

Most types of New York City residence are all tied up with red tape. Co-op owners often need board approval before performing even the simplest improvements to their property. Condos often have stringent regulations about pets, decoration, renovation, and more. The owner of the condo or co-op sometimes has minimal control over important decisions regarding their own living space.

Townhouse with double-height ceiling

Townhouse owners, on the other hand, enjoy freedom to renovate, improve, and configure a property in new and creative ways. Pending City and Landmarks regulations, townhouse owners can dream big and make their dreams a reality. Interior improvements are usually limited only by the townhouse owner's imagination. Over the last 20-odd years, I have seen almost every conceivable townhouse layout. I've seen loft-like interiors with double-height ceilings and open staircases; I've also seen painstaking recreations of the 1890s, right down to the William Morris wallpaper. The common thread was the satisfaction the owners felt in creating exactly the living environment they had always wanted.

Most importantly, townhouse owners have the freedom to maximize their investment. The freedom to renovate means the freedom to increase the price per square foot, thereby growing one's townhouse investment even faster than the general market.

Next time: The Romance of Townhouse Ownership

--Dexter Guerrieri

Mondays with Dexter also offers an up-to-date summary of properties that are new to the market as well as those that are under contract or sold, the features they offer, and which ones fit your primary residential or investment criteria.


Click here to sign up for free!

Mondays with Dexter

Our New Listings

70 West 69th Street - $7,950,000    141 West 81st Street - $6,300,000 Price Reduced!   157 West 87th Street - $4,175,000  Price Reduced! 345 West 121st Street - $2,670,000 248 East 30th Street - $2,595,000 Price Reduced!   For showings: Cathy@TownhouseExperts.com   This Week's Featured Listing! Premium 60s Park Block!      70 West 69th Street Price: $7,950,000 20'x 100.42', Built 77' deep Description:  70 West 69th Street offers you the rare opportunity to own a spacious townhouse on one of the Upper West Side's most coveted blocks. Twenty feet of width and fourteen-foot ceilings create vast interiors. Every level shines thanks to hardwood floors, bay windows, French doors, and plenty of natural light. Fully functional wood-burning fireplaces have been preserved throughout. Unusual double-height ceilings and an uncommon loft-like garden rear are just a few of the architectural touches that make this home so special.   West 69th Street is one of a handful of truly premium blocks on the Upper West Side. It is tree-lined, quiet, and located near every imaginable amenity. Walk your dog in Central Park or stroll easily to Lincoln Center or Juilliard. Dine only a few doors down at Telepan, or choose from among the many other restaurants lining Columbus Avenue. Currently configured as an owner's triplex (including the basement living areas) with three floors of high-income free-market rentals above, this home is ready to be restored to its turn-of-the-last-century glory as a single-family mansion.

What Buyers Can Expect Between Contract and Closing

Today we continue our two-part series on what to expect when you're in contract.

What Buyers Should Expect

Both first-time and seasoned townhouse buyers can benefit from a checklist outlining the many tasks necessary between signing the contract and getting the keys at closing.

Here are a few helpful reminders for buyers during the contract period:

1) Obtain an appraisal in order to obtain your mortgage. Vandenberg makes sure that appraisers know about the appropriate comparables.

2) Once your mortgage application has been approved, be sure to receive a mortgage commitment and send a copy to your attorney.

3) Purchase the necessary services: not only homeowner's insurance, but also phone, cable, and internet service. This is in addition to the regular checklist we will give you during the contract period.

4) 24 hours before closing, it's best to schedule one final walk-through of the property.

5) If you don't plan on attending the closing yourself, execute a Power of Attorney for your proxy.

6) Be sure to bring both your checkbook and your photo ID to the closing.

Halloween Apples!

Photo: Diskychick, courtesy Flickr

On Halloween, we tried a grand experiment. Could we give away lots and lots of apples to ghosts and goblins accustomed to dried corn syrup in gaudy wrapping paper? The answer was an emphatic yes. We procured 6 bushels of apples from our farmers’ market standby, Wilklow Farms. They have five generations of orchard experience. The apples were small Empires and Macintoshes and we estimate that there was an exact Fibonacci number of 610. We were at the ready with a website reference in case anybody was worried about dangerous apples. (It turns out that those Urban Legends from the ‘70s and ‘80s had no basis in fact.) But nobody, not a single person, challenged us on this matter.

In the course of two hours, we and our Halloween party guests took turns handing out every single one of the apples. Only twelve individual 12-year-olds declined. Many parents wanted one for themselves. And they thanked us from the bottom of their hearts. Approximately 1 in 10 people took a bite of their apple within ten steps. Not a single person asked if they had been washed (they hadn’t.) Little children turned to their parents and exclaimed in delight, “Look! I got an apple!”

The office naysayers who told us we would come in the next day with 550 apples were wrong! So next year, perhaps you should consider doing the same thing on your front stoop. If you do, let us know.

BRC Free Seminar a Big Success!

Last night’s Vandenberg-sponsored BRC Free Seminar was one of the biggest successes in BRC history. 

We’d like to thank our guest speaker, Zach Kaplan, all the attendees, and everyone involved for contributing to this very productive evening. We had a record attendance, and very generous feedback from the attendees. 

For those of you who missed it, the topic was “Renovations and Strategies to Maximize Your Townhouse Value.”

First, Dexter gave some tips and ideas. He gave strategies on destabilizing your rental units, adding square footage, maintaining or adding a stoop, and digging down and finishing your basement. He also spoke about some Renovation Don’ts:

1) Never allow a Rent-Stabilized apartment to remain so if it becomes vacant!

2) Don’t be too wildly creative with your renovation, creating too many half-floors and multiple landings.

3) Don’t do all your bathrooms in the exact same tile. Add some variety and interest.

4) Don’t overdo the kitchen and bathroom gadgets. Technology changes so quickly, and buyers may not like the gadgets in a few years. 

Then Zachary Kaplan, President of ZMK Group, spoke about how to assemble a team and organize any renovation, from small projects to large jobs. He emphasized getting your building permits and Landmarks approval before beginning a job, and gave sample pricing for various jobs – from relining a chimney to digging down a cellar. 

Zach also spoke about doing construction projects in stages. In one example, the owners were planning on adding an additional floor but decided they would rather budget for it in the future. So midway through renovations, ZMK and the architect put stairs, a bulkhead, and plumbing lines up to the future roof addition. That way, when the owners decided to do construction on the roof later on, the workers would be able to simply go upstairs without disrupting the rest of the house, and the construction materials could be elevated up the exterior. 

The Q and A lasted a good while, and then everyone mingled over wine and cheese. BRC participants got the chance to have 1-on-1 conversations with our speakers, and with each other. By the time we left, people were still mingling on the sidewalk outside, discussing their townhouse adventures.

We will be posting photos and video of the event soon, for those of you who missed it.


 If you don’t receive “Mondays with Dexter,” sign up here and be the first to hear about the next Vandenberg-sponsored BRC seminar!

What You Can Expect Between Contract and Closing: For Sellers

An Excerpt from Mondays with Dexter

Today we begin our two-part series on what to expect when you're in contract.

What Sellers Should Expect

The time between contract and closing is a busy one for most NYC townhouse sellers. It often entails a significant time commitment.

We provide our sellers a checklist and advice to make the closing process simpler. Here are a few tips:

1) Make sure the utilities, the alarm company, and the insurance company are notified of the upcoming closing date and transfer all accounts to the new owner. Discontinue your phone, cable, and internet service.

2) If you do not plan on attending the closing in person, be sure to execute a Power of Attorney for your substitute.

3) Your attorney can help you figure out how much prior notice you must give your tenants. This can depend on the individual leases.

4) Collect all the necessary paperwork ahead of time so that you will be sure to have it with you at the closing. Alarm codes and information, all appliance instructions and warranties, recent water, oil, and gas bills, and (of course) the property keys are necessary on the big day!

Next time: What Townhouse Buyers Can Expect Between Contract and Closing


Mondays with Dexter also offers an up-to-date summary of properties that are new to the market as well as those that are under contract or sold, the features they offer, and which ones fit your primary residential or investment criteria.


Click here to sign up for free!

Simplify Your Townhouse Tenant Situation

Maximize Your Townhouse Investment: Part 4

An Excerpt from : Mondays with Dexter

Here is the next in our series of tips on how to grow your long-term townhouse investment. 

This week's tip:  

Simplify Your Tenant Situation  

The most dramatic increase in a NYC brownstone's value comes when a multi-unit building can be restored to its original single-family layout. Here are some ideas for maximizing your building's Single-Family Potential.  

1) Flexible Market-Rate Leases. If you think you might sell within the next few years, use the standard form REBNY lease, but modify it with a 60-, 90-, or 120-day "vacate on sale" clause. Ask us for a template. This will reassure buyers that their renovations or other plans can begin within a few months of purchase.  

2) Be sure to deregulate any vacant apartments. When a regulated tenant moves out, the apartment is not automatically deregulated. You will need to complete and document Major Capital Improvements to increase the legal rent above $2,500 per month. Or you can combine two apartments. The proper paperwork must be filed with the city. If you take the time to go through this red tape before putting up your Manhattan townhouse for sale, it is almost certain to bring in much higher bids.  

3) If possible, consider buying out any rent-regulated or SRO tenants. Although this can be pricey, it can potentially get you a much higher price at closing.  

4) Begin an "Owner Occupancy Proceeding." Ask us regarding attorney recommendations. Don't do it on your own, and don't be penny wise and pound foolish with a non-expert attorney.  

5) If you don't want to spend money on improving a vacant apartment, consider leaving the apartment vacant. You will be giving up short-term cash flow, but this is generally dwarfed by the higher sale price resulting from not having a resident regulated tenant.

--Dexter 

Mondays with Dexter also offers an up-to-date summary of properties that are new to the market as well as those that are under contract or sold, the features they offer, and which ones fit your primary residential or investment criteria.

Click here to sign up for free!

Dexter Highly Recommends the Chocolate Show this Weekend!

Friends –

Last year my son and I attended the Chocolate Show, and I want to recommend it to all our chocolate-loving friends.  It’s a great time, and in exchange for admission you get all the chocolate samples you can eat!

The smell of chocolate hits you like a wall when you walk in, and by the time you walk out you’ll be wondering if you’ll ever want to eat chocolate again.  But in between there are cooking demonstrations, exhibits, and of course, free samples.  It’s a great family-friendly event.  Although admission does cost money, it appears that this year they’re letting in two children free for every adult. 

The website is here: http://www.chocolateshow.com/accueil.aspx .

-Dexter

Mark Your Calendars! Free Fall Seminar.

BROWNSTONE REVIVAL COALITION

invites you to its free Fall Seminar

“RENOVATIONS AND STRATEGIES TO

MAXIMIZE YOUR TOWNHOUSE’S VALUE”

with Special Guest Speakers

DEXTER GUERRIERI

Chair, Brownstone Revival Coalition and

President, Vandenberg, Inc., The Townhouse Experts™

For over 20 years, Dexter has helped townhouse owners maximize the value of their townhouses, adding six or even seven figures to their homes’ values.

ZACHARY M. KAPLAN

President, ZMK Group, Inc.

ZMK Group, Inc. is a full-service general construction company. Zachary has 20 years of experience in high-end residential interior construction and finish work.

Topics to be addressed:

• What renovations or tenancies increase the value of a townhouse?
• How does one work with a contractor for best results?
• What renovations can be done without city approval and permits?
• What can a contractor do on her or his own without an architect?
• How can you plan for a renovation if you want to do it in stages?

Wednesday, November 30^th 2011

7:00 - 9:00 p.m.

The Dorot 

171 West 85^th Street

Free to the public 

 Wine &  Cheese Served

Presentations plus Q & A

Space is limited 

  RSVP: 212.769.2900

Andrea@TownhouseExperts.com

www.BrownstoneRevival.org

 for more information

Sponsored by

TownhouseExperts.com

The Brownstone Revival Coalition is a non-profit organization dedicated to promoting the renovation of rowhouses and the revitalization of neighborhoods.