By: Michelle Wong
The new trend as of four years ago is renovating brownstones. Most high end real estate brokerage firms have been taking these rundown brownstones and modernizing the interiors of the buildings. They keep the exteriors integrity intact. Brownstones are common during the 19th century and are part of New York landmark and its history. We have them in Manhattan and Brooklyn. These buildings are a real estate investors dream. Originally in the late 1980’s and early 1990’s brownstones were being sold for mere $1. The proposal for selling these buildings for a $1 is to encourage investors and home buyers to purchase them and fix them. The reason behind that is to give neighborhoods a makeover and circulate a better real estate market. As time went by and we entered the 2000’s the market changed and the market started to rise steadily and there were drastic make over in Manhattan and Brooklyn. After the steady rise in the market value after 2010, the Brownstones became prominently more expensive to purchase. One of the last buildings that were available was in Harlem.
The architecture and structure is after the Victorian era and the start of the peak of the late 1860’s. The term brownstone came from the Tirassic-Jurassic sandstone material the buildings are commonly made out of the concept of the structure came from a company from Wisconsin called the Bass Island Brownstone Company which operated from 1868-1890. It was most used in government buildings along the eastern coast of the United States, primarily in New York, Pennsylvania, Maryland, Delaware and West Virginia. This architectural structure that was once used in government buildings and commercial buildings were then introduced into the residential market. It became popular in the urban areas of Brooklyn and Manhattan. Most structures have 3-4 floors, which can easily be a 2 family home.
Maryland, which also have Brownstones also have the much popular Rowhouse which are similar to Brownstones but did not have the grand entrance or the structural landscape with stone stairs on the outside that go up to the entrance of the home. Philadelphia also had both structures in different areas of the city.
Now in the present a Brownstone is worth in the Upper 2-3 millions of dollars or even higher after renovation. If you are looking to invest in a Brownstone you might have to pay at least a million dollars that is moderate shape. It is remarkable that what was once a giveaway is now worth millions. There have been a few that were demolished in New York City because of the severe damage it has in the internal structure of the buildings. The most iconic structures in New York City are the Skylines and the Brownstones.
Jehovy Santiago from JehovyPhotography.com
The WYM Group Blog
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