City August 14, 2012 12:40 PM

Sweet 'Renos' on Tracy Street

Sweet ‘Renos’ on Tracy Street
queenseyes
queenseyes 29
Tracy Street in the West Village recently got a major real estate boost. Four properties at the corner of Tracy and Elmwood have been either completely gutted or are in the process of being renovated. The owner has been acquiring the properties in recent years in hopes of making a significant investment in village. The brick houses have been repointed and painted, which has made a huge difference on the street, visually. But what is really amazing is the interior transformation. One of the 19th century Victorian houses (lead photo - right) was just completed and is currently available for $1750 a month. It's not cheap, but then again there are not many places that you can find with such modern aesthetics and amenities. Buffalo architect Adam Sokol has done a bang up job with the two-storey (3-storey atrium), open floor plan unit. Additionally, the owner is in the process of converting part of the backyard into a secured parking.

According to the Craigslist ad, the unit boasts a "fully equipped kitchen with granite countertops, stainless appliances and numerous recessed lights. A half bath and in-unit washer/dryer are located conveniently on this level. Ascend the natural wood stairs and feel the sleek, smooth rail fashioned from the same wood as the floor. 2 bedrooms with generous closets are located here. The full bath is fitted with high-end fixtures and layered with elegant tile. Glance down to see the full beauty of the lower level and then upwards into the skylight. Designated outdoor space is included with this unit. An annual lease with monthly payments of $1750 is available; utilities are additional. Off-street parking included. All exterior walls are fully insulated. Forced air heat and central air. Small pets are permitted, smoking is not. Shown by appointment only. Call Mark W. DiGiampaolo @ 716-887-3891. MJ Peterson Real Estate."

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If interested in the space, let Mark know that Buffalo Rising sent you. Coming up I'll be featuring more of these properties, some of which will be available for lease, while others are fully occupied. 

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29 Comments Leave a comment
Tim
August 14, 2012 12:46 PM
Tim

Um, wow. I noticed the exteriors looked great, but did not expect that inside.

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JMc44113
August 14, 2012 1:23 PM
JMc44113

"...and is currently available for $1750 a month. It's not cheap..."

Yes - thats because Buffalo is behind the real estate curve - so to some that might seem steep, but not many other urban dwellers aroudn the country. To me, based on working as a developer all over the country on market rate apartment products, thats a decent market rate price - not to mention for such a large amount of space in essentially new condition but in a desirable historic neighborhood. Seems reasonable to me!

Looks great KUDOS!

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WCPerspective
August 14, 2012 1:27 PM
WCPerspective

Holy cow! Impressive interior!

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5to81ALLDAY
August 14, 2012 1:29 PM
5to81ALLDAY

Average price is about $4000 a month for a two bedroom in Manhattan

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Chris
August 14, 2012 2:50 PM
Chris

Why compare to NYC? I don't understand the point.

It is expensive for buffalo, that is a good sign and there is nothing wrong with it.

ps. You are not including the off street parking that would probably increase the rent by about a 33% in Manhattan.

:-)

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NBuffguy
August 14, 2012 3:41 PM
NBuffguy

Manhattan offers a lot more than Buffalo to justify the expense.

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john.straubinger@gmail.com
August 14, 2012 1:58 PM
john.straubinger@gmail.com

Let the renovations and rehabs continue all over Buffalo.I love it.

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Travelrrr
August 14, 2012 2:11 PM
Travelrrr

Gorgeous. I hope the one that is closest to Elmwood gets some public art, amazing garden or such...it's ripe for that.

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RaChaCha
August 14, 2012 2:46 PM
RaChaCha

Yeah, almost anything would be an improvement. By and large, most of Elmwood south of Virginia Street SUCKS.

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M-Rodgers
August 15, 2012 7:36 AM
M-Rodgers

"sucks?"

I would expect more from you, Rachacha. Rather - the area south of Virginia is ripe for development, especially considering it lies between Allentown and the new residentials Downtown; is an significant historic area; and only has to contend with an overly rowdy "entertainment" district that does not entertain - only promotes bad behavior.

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nickinthebox
August 15, 2012 2:59 PM
nickinthebox

Maybe sucks is the wrong word.... but it certainly leaves a lot to be desired. I lived in 49 Johnson Park (I was the one who tried to figure out who owned the home next door when the whole side of the house blew out into our 'courtyard') and there are a lot of issues with the area.

The park is nice to look at when its properly maintained, but its riddled with trash and dog feces. And not to mention that at least 6 of the residents on the loop woke up on Cinco de Mayo to slashed tires. I've since moved out of town, but I'm lucky enough to have all four panels of the passenger side of my SUV keyed to remind me of where I came from.

Noone dares to park on the side of the street close to Hutch Tech because of fear of break-ins. Almost weekly is there a pile of glass on the road from a smashed window.

That being said, I hope the Tracy street work spurs more of a neighborhood-ly type of pride. There are too many negative feelings on that side of town (i.e. west of Carolina) which really tend to bring everybody down.

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M-Rodgers
August 16, 2012 8:54 AM
M-Rodgers

Cinco de Mayo tire slashing - this was a case of retribution by certain members of a property now all under eviction. Due to this eviction and the arrest of two young lads from the same property, the car pops have dwindled considerably.

The trash and dog feces is a combined result of poorly maintained properties along Elmwood with landlords that do not screen properly, actions by those attending the Chip Strip, and the city's ignorance when it comes to street cleaning on a regular weekend cycle where they only take care of the main drags leading to/from Chippewa and give nothing back to the surrounding neighborhoods that have to go through so much crap.

The week of the wall collapse was the week the new owners of 51 JP had acquired the property in auction. Since then there has been major structural and decorative improvements. The neighborhood had this property in court for years but the city's system waylaid any progress.

Other improvements have been made since your departure including the rehabilitation of that nasty parking lot and removal of the rusted fence along Elmwood by the Vet Hospital and, finally, there are workers at the Graystone - HOWEVER - the Graystone still needs security lighting at night since most of the fights from the Chip Strip are relegated there.

The most pressing need we have is the city to enforce code and provide additional police support instead of caving to the protection of the Chip Strip bar owners.

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nickinthebox
August 19, 2012 12:07 PM
nickinthebox

And then something like this happens.... http://www.buffalonews.com/city/police-courts/police-blotter/article1012262.ece

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RNMashups
August 14, 2012 2:35 PM
RNMashups

I'm probably going to be railed for this, but what about us young professionals? There is a huge gap in this city when it comes to rental properties. You have low-end housing in undesirable neighborhoods. Overpriced rental costs with little utilities included. Absentee landlords abound. On the other end, you have these fantastic renovations but costs that are far too high for someone who is just starting out in the real world.

It's great to see these projects coming to fruition, but there also needs to be balance. If there are no housing opportunities for young professionals then you have no room to complain when they leave the area.

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LouisTully
August 14, 2012 2:46 PM
LouisTully

I concur. There needs to be better options for properties to purchase in the downtown core. Your options for purchasing a loft or condo are all over 300k. So the demographic that would love to live downtown but can't get a 300k mortgage ends up living in North Buffalo or the suburbs, etc. because that's what they can afford. Downtown needs more purchase options in the 100k-200k range.

But what does this city know about building neighborhoods. They're trying to destroy one on the west side to attract the tax free cigarettes and liquor crowd.

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pfk67
August 14, 2012 4:19 PM
pfk67

Hey, that's what rebuilding an area is all about. Rents/Housing too high in one area, people move to more affordable ones and fix up the houses. Happens in other cities a lot more often. Buffalo lacks a bit of this due to lower incomes, but it looks like it is happening downtown and on the westside. Now the hard part is going to be moving it east up Genesee, Sycamore, Broadway, and Clinton. Might take my whole lifetime (hopefully another 40 years )

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Khmylevs_Heroes
August 14, 2012 2:56 PM
Khmylevs_Heroes

RNMashup: Agreed.

My double unit in Kaisertown has a mortgage of $275/month. I didn't expect to be there as long as I have but, it's extreme affordability has been blessing in disguise.

Were I living in a more desirable neighborhood, in this job market, I'd be house poor right now.

I wish there were better options downtown but, those are the breaks. At the end of the day, I'm only 4 miles from downtown.

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Tom
August 14, 2012 7:37 PM
Tom

I think South Buffalo is a perfect spot for young professionals. Cheap and safe place to live.

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brownteeth
August 15, 2012 8:26 AM
brownteeth

Take a look around the corner from this house in the West Village neighborhood. There are many apartments for rent that are very nice with modern styling and classic ornate details. The rents are around $7-900 for a 1 or 2 bed rm. I rent out a really nice modern "in-lawed" apt in my house for $775 and it's just as nice as this place albeit much smaller.

I hear where you're coming from though. I'm working on buying another property to renovate and market towards your (and my)demographic in that $7-900 range.

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KJB
August 14, 2012 7:39 PM
KJB

Looks good.

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The Boss
August 15, 2012 7:30 AM
The Boss

There are options for starter condos, smallish 5-6 story building on Delaware around Barker has units around 100K as does the The Whitney in West Village. Some other units scattered around go in the 150-199K.

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Buffalo All Star
August 15, 2012 1:26 PM
Buffalo All Star

I remember seeing the green one for sale (love the combo with the yellow door)..low 100s I believe..and couldn't help but think what a steal for being downtown.

On the condos note..those in listed above in the Barker area are a joke...$100-$140k for 560 feet of living space..I wouldn't exactly call that a starter..not even bachelor. I'd have to collect rent from my dog. LOL

There are options though..smaller one bedrooms in the Campagnille and 800 W. Ferry (I recently saw a one bedroom @ the Campagnille for $84k)mid-ish 100's..and theres a large building on West Ferry that has lots of listings as well.

BUT...I do concur..whats in an affordable range for those just starting out is entirely too small. Anybody buying a home/condo thats got a head on their shoulders isn't going to be an 800 sq. footer that they'll have to move out of in 3 years. Whats available for longer term (5-8 years) leaving you space to grow into IS 300k plus..we need more options for younger people to purchase/grow into in the city period. (Not just downtown..and not where your personal/property saftey is in question)

If I could day dream for a second..I would say that hoping for large scale gentrification in 10 steps past impossible..WNY is too working class as a whole. I would love to see some neighborhood planning..single family homes..2-3 bedroom condo's..filling in some of the holes immediately around Downtown. (Topping out at $200k). Franklin Street down by the Cyclorama..m&t lot..in/around 33 on ramp by Genessee Gateway..further down the line around a downgraded tree lined Elm/Oak arterial... Dunntire park neighborhood. Day dream over.

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The Boss
August 17, 2012 8:30 AM
The Boss

So you want ample space and a good central location for cheap? How about covered parking and granite, hardwood and walk-in closets. If units are selling at $100+ sq ft than that is what the market will pay, developers don't just lower the price to accomodate first timers. You need to do what most first time dwellers do, start low and small, or hedge on a marginal neighborhood, say Black Rock, Grant or First Ward, West Village and hope a trend catch's and a few years later you are sitting pretty. I remember when St Mary Sq condos were the only option downtown and selling at aroung $60-70K, now I bet they fetch about $200K.

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brownteeth
August 17, 2012 8:53 AM
brownteeth

I agree. I realize it's tough for first time home buyers/ young professionals to find affordable homes in a desirable neighborhood in the city. However, it takes hard work and patience to get to that point in life. The problem is that some young professionals just want to head straight to the finish line in lieu of the normal progression of things.

My suggestion is to buy what you can afford, or even less than you can afford in an area that's not as far along, say S. Buffalo or far West Side, and see what it really takes to own a home and more importantly the actual costs of owning a home. It's not difficult to find a decent home for under $100k in the city but it won't be on Elmwood or downtown.

No one says you have to keep that home forever but it's the best place to start and learn before taking on a $200k mortgage, and why? just so you can ride your bike to spOt Coffee 3 minutes faster? Plus if enough people buy these homes on a distressed street they can change the vibe of that street and build some value in their homes.

What someone should do is form a group of young professionals / first time homebuyers and try to buy a group of houses on one block on the west side. There's already blocks with a half dozen homes for sale cheap. If they tackle their respective homes concurrently they may quickly change the dynamic of that block and ultimately end up with a nice affordable starter home on a block with people they know have a vested interest to maintain that dynamic.

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replied to The Boss
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New2Buffalo
November 2, 2012 4:59 PM
New2Buffalo

I like this idea very much. 10 green thumbs up.

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Lego1981
August 15, 2012 3:28 PM
Lego1981

I knew someone who lived in one of those houses (last year) and what a big difference compared to how it looked then. I agree to some who say, 'let's continue this trend'.

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STEEL
August 15, 2012 4:20 PM
STEEL

One of these was the childhood home of G. Cleveland's wife I believe.

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LouisTully
August 15, 2012 6:08 PM
LouisTully

I believe the Frances Folsom house is on Edward across from the
Adult Education building.

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BuffaloQPublic
August 17, 2012 1:34 AM
BuffaloQPublic

Notify the HGTV Property Brothers that they will have to step up their house transformation game.

The available property's outstanding interior redo, with the Oohs/Ahs atrium, surpasses anything I have seen on their show.

Re: Johnson Park and one of the neighbors, Hutch-Tech.
Approximately $15 million was spent on the school's reconstruction. However, the expansive, rusted iron fence was not/has not been touched.

Number one: It's inconceivable that much money didn't include address of the fence. Number two: It needs to at least be painted, immediately. It's unsightly.

(If not, it prompts highlighting that Buffalo public schools custodians are allowed to keep the money they don't spend on the schools upkeep, yearly.)

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