Franklin My Dear...
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Leave a commentCould easily be a single family house. Well done, I'd imagine he could get around $450k for it. So it looks like ge got a steal at $70k. He should put $250 in and walk away with a hundred or more in profit.
I am sure the neighborhood would likely reject it, but how about replicating the National Arts Club in NYC (Buffalo-style). www.nationalartsclub.org.
Essentially, a center for meetings, events, lectures, etc. And, have rooms to rent (by the week) for out-of-towners, to generate some revenue.
You might take a walk up the block (towards Allen) and find Don Gilbert. He's done quite a bit for that block, converting similar buildings.
I'm in the same area, and as I'm sure others are doing, keeping an eye on the BNMC and what impact it will continue to have on the street. The Medical School is only going to increase the demand for apartments.
This is amazing! I've admired that building and the amazing collection of Victorian architecture on Franklin ever since taking the "Franklin Street Stroll" architecture tour with Chris Brown in the summer of 2006.
As far as what to do with it, it's hard to say without getting a closer look in and around the building. A couple ideas to get the ideas (a meta-idea?): Invite BR readers through for a tour on a particular day; have it open during Allentown First Friday for people who want to come in for a look around (folks are already nearby on Allen Street and often at the Jung Center) with some art from friends on exhibit or not (we could promote that on BR, Twitter, etc.); or offer the space for a fundraiser for a preservation group, where people could get a good "before" look at it in the company of those who know about rehab of historic buildings. Things like that could get some interesting interim use of the space while also resulting in some great reuse ideas -- and in warm weather with lengthening daylight hours those kinds of events could even be held with limited or no utilities in the building.
Matt, congratulations on your purchase, and best wishes!
These are great stories to read. There was a time period in the late 90's and the early 2000's when residents on North Pearl and Franklin were furious with what they felt was an overrun neighborhood by the homeless and other transcients and their anti-social behavior who were clients of the various social service agencies located in Allentown. I have to think that this situation changed but I'm not familiar with the particulars. How did this situation change? Have the number of social service agencies in Allentown shrunk, merged or moved elsewhere?
There is still a rooming house on my street (Whitney and Carolina) that is problematic too. It's directly next door to the recently renovated Whitney Hotel Condos and I wouldn't be surprised if that is the sole reason they have not all sold yet. They really can ruin an entire neighborhood.
I'm not certain if any have actually sold or are just being rented. It is mostly occupied though I believe. They dropped the asking price down to like $90k from $130k.
The rooming housing is literally inches away and they kind of share the space in the rear where the parking lot is. There's always sketchy people in and out of there or just drinking on the stoop all day. Not exactly the neighbor you want to have directly next to you.
Yes, the model unit at The Whitney was sold for $129,900. Originally when the units were offered, there was no parking. That problem was corrected with construction of the first eco-friendly parking lot in NY west of the Hudson River. The second hurdle was when federal government stopped banks from financing new condos. The Whitney's new model units are now $88,900 and offer private financing or lease-to-own options.
So what happened to the transients that were living in those boarding houses?
They moved down the street to 531 Franklin... duh.
Hey, who CARES where they went? Not many on this site. Damn those filthy, poor people! Damn their need of cheap housing! Damn then if they live anywhere near our "yuppie" neighorhoods, but then pretend to support the plight of the poor and down-trodden. As long as they stay out of sight and ear-shot. Right? Right.
I won't mince words, when I worked EMS in the City, this place was one of those addresses you cringed to hear over the radio. 409 Franklin, hated it. Went for more bullshit there over the years, even numerous DOA's and it was always my thought on what a nice house it was. I also felt bad for the neighbors trying to fix up the neighborhood.
Glad to see it's in proper hands, I'm sure it'll need a lot of TLC but it'll be worth it in the end.
The transients, they've all embarked down to the old Chippewa Hotel and yep, good ole 531 Franklin.....did a few crime scene cleanups as well. lol
truly handsome, dignified house. and surprisingly intact inside. glad to see it in good hands.
The assessment dropped down to $100,000 so that's a good start.
House is back on the market... $350K
No reference to updates in the limited description.
http://www.zillow.com/homedetails/409-Franklin-St-Buffalo-NY-14202/2114605347_zpid/
I actually just got a hold of the realtor about an hour ago to schedule a walk through. The place is probably over priced by about 70-80 grand. It would be nice to see how much money was put into the reno, because from the outside it still looks pretty rough.
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put 100K into it and it could sell for 240k