Search This Blog

Showing posts with label restoration. Show all posts
Showing posts with label restoration. Show all posts

Monday, August 13, 2012

Restoration Project - 522 Grinnell Street - Key West

522 Grinnell Street - Old Town - Key West

The listing Realtor describes 522 Grinnell Street as:
"There is an exceptional opportunity to continue the renovation of this beautiful home in a highly sought after location. This historically significant home built prior to 1884 has always been admired for its beautiful architecture including Dade County Pine walls and ceilings throughout, grand proportion room sizes with twelve foot ceilings on the first floor and eleven foot ceilings on the second floor. The current owner has completed all of the demolition work and this wow factor potential home is ready for completion by a new owner with the style and manner they desire. This property is licensed for two units."


522 Grinnell Street as photographed in 1965

Peeling paint of yore - now gone

Restored bay window on opposite side of the house

I have shown this property numerous times over the past several years. I fell in love with the place before I ever went inside. It has looked sad and forlorn for years. The paint was peeling and chipping away, but I knew that could be fixed. A window on the south side was broken and covered by an Al Gore for President sign, but I knew it could be replaced. An odd looking carport on the right side diminished the grandeur of the house, but I was sure there would be a way to deal with that issue. The rear of the house had a cobbled addition that looked awful, but I imagined that wreck could get removed and a new two tiered rear porch could be added in its place.

First floor front porch

Rear addition has been removed - what will take its place?

The former owner's family had lived in this property for generations. The current owner is not related to the prior owners. My remarks about the prior owners are not intended to disparage anyone. Contrarily, I relish the somewhat odd experiences I had when I showed the house. I recall the story the former owner telling that this house, like so many of the grand old homes in Key West, was built by ship chandlers. That means the house was built by the men who built great sailing vessels that could withstand strong winds and the elements. I will never forget standing with her on the second floor front porch as she recounted having watched a storm coming across from the Atlantic side of the island as it made its way toward the Gulf of Mexico a couple of blocks to the north. She remarked about how strong her father was during that storm and how well the house withstood the winds and rain.

The current owner purchased this property in 2006 after the house was marketed by not less than four different agents over a four year period. The prior owner never allowed any listing agent to show the property. The owner did it. She took charge and told and re-told the family's history in the house. I imagine she did not want some Realtor to get the facts wrong or to fail to state an essential point about the property. After one showing I remember my buyer saying something like "No wonder she hasn't sold the house..." and then said something unflattering about the owner. But I got why the former owner was so proud of the house. It is, as the current Realtor says, "admired for its beautiful architecture".


If you look at the photo of the house above you would expect the front door to be the door on the front porch. You would be wrong. The main entry is actually located on the side porch to the right. The entry hall is rather unassuming. The stairway, however, is ever-so-graceful. I love the thin stiles and deep dark and delicate handrail, especially as is curves and makes a you turn toward the top handrail.

The ever-so-graceful stairway
Once inside there are multiple large rooms with twelve foot ceilings. Rooms of this size do not blend easily with the way live our modern lives, but there are people who crave the sophisticated single purpose rooms of yesteryear. This house has many such rooms for that buyer. One such room is the formal dining room with a fireplace. It looks sad now, but most houses look sad while they are 'under construction'. I'll bet you that it won't look sad by the time the renovation is completed.

 One of two bay windows in this home

Originally the main parlor - would this become your Great Room?

Dining room with fireplace - would this be your new kitchen?

Renovated front and side porches with new doors

The rooms upstairs have been stripped away as well. The family kitchen was located at the rear of the second floor. I remember the former owner's mother sitting at the kitchen table coddling a box of new born kittens during one showing. The older woman always sat in that kitchen and always smiled as potential buyers passed by her table. The memories of the ancient matriarch and her progeny are all that remain of the events that occurred during the hundred years her family lived in this old house

Photo taken where an old shed used to stand

Room for a pool in this large rear yard

The current owner has removed the old addition at the rear and cleaned up the interior. It will be up to the new owner to complete this house. While I am not a builder, I have a good sense of the work ahead which will include installation of all new electric throughout the house, new water and sewer lines, new HVAC, installing new bathrooms, a kitchen, a pool, and landscaping. I heard that the approved plans call for the addition of a new two story rear porch. I remember telling perspective buyers that is what I would do if I owned the house. The house did not need the old falling apart addition. It is gone and now there is room for a porch where I can imagine there will be space off the master suite at the second floor rear where the new owners can sit and ponder the meaning of life (or anything else).

CLICK HERE to view more photos of this restoration project.

522 Grinnell Street is offered at $1,450,000CLICK HERE to view the Key West Association of Realtors mls datasheet and to view the listing photos. Better yet, please call me, Gary Thomas, 305-766-2642, to schedule a showing. I am a buyers agent and a full time Realtor at Preferred Properties Coastal Realty, Inc. in Key West, Florida.


Friday, January 12, 2007

Sweet William Transformation






Why Does Real Estate Cost So Much in Key West?

I was doing my morning internet surfing today and ran across this picture (bottom right) on flickr.com . The caption read: "This house is for sale by the famed Christie's Group. This 'Preferred Property' is about to fall down, which I found marvelous." That got me to thinking about discussing why housing in Key West costs so much and why the current downward turn benefits would-be buyers.
The house pictured was listed in July 2006 at $799,000. It is 1638 square feet on a 1959 square foot lot. There is off-street parking. And it was priced at appraised value at the time. The price has been dropped to $599,000. The good thing about this house is that it is in a good relatively good location in Old Town, but not the best. It obviously needs lots of work, but it does have the street appeal that makes it desirable.

The top four photos show a house in the 500 block of William Street as it looked a year ago and as it looks today. The restoration is almost complete. The tax records show that the existing house was 2827 square feet under roof. It looks like the square footage has been increased as the property was restored as well.

The property was sold a year ago for $1,225,000 and sold in January 2007 for $3,495,000 CASH.

The process of restoring a home in Old Town Key West is similar to any other town with an architectural review committee. The Historic Architectural Review Committee (HARC) controls that process in Key West. The City has a designated official that ensures that the city code is enforced with respect to all homes in the Historic District that are subject to the code.

HARC reviews all planned renovations, restorations, and even new construction in the Historic District to ensure that the historic character of the Old Town area is not diminished by new construction. It has strict guidelines that it jealously protects.

Old buildings such as the one pictured and chided as a "Preferred Property" cannot be torn down and rebuilt. Instead, buildings like this must be conserved and restored. Costs of such conservation and restoration often exceed the costs of normal new construction. The end result is that the cost of acquisition, planning, reconstruction, landscaping, etc. all add to the cost of the final home. But then the final home is often a work of art.

There are some great buys in Key West because of the market downturn. Prices will not stay at there current low rates and those people who buy now ought to reap great rewards in the future.



Disclaimer

The information on this site is for discussion purposes only. Under no circumstances does this information constitute a recommendation to buy or sell securities, assets, real estate, or otherwise. Information has not been verified, is not guaranteed, and is subject to change.
Powered By Blogger

Counter



Free Counter

Key West

Key West
You could be here!

Blog Archive

Gary Thomas in a Nutshell