The value of real estate in Manhattan Valley, a slice of the Upper West Side 96th and 110th Streets, has rebounded in recent years, and now a renovated brownstone is poised to set a neighborhood record. The home at 134 Manhattan Avenue just came on the market for $3,675,000, the most expensive asking price for a townhouse in the neighborhood. But according to the owners, that sale price just covers the cost of a comprehensive year-long renovation that converted the 3,100-square-foot building from a church to a single-family home. The owners, who live next door and purchased the church in 2009 for $800K, spoke to the Journal about the renovation, which restored the landmark facade and created an open, modern living space with four bedrooms, three and a half baths, and two terraces.
The four-story house was originally part of a row of 18 brownstones designed and built by the fame architect C.P.H. Gilbert in the 1880s. In the 1970s, the 16-foot wide building was turned into a church and its brownstone facade was painted white. Nearly all of the interior historic details were destroyed, so the new owners designed a modern space with large windows, glass banisters, new oak floors, and an open kitchen. The terraces overlook a backyard, and the garden level is equipped with the necessary plumbing to turn it into a studio apartment to be rented.
While the home's pricetag is high for the area, the Journal notes that a condo in the nearby 455 Central Park West recently sold for $8 million, but the home is somewhat smaller than other townhouses. Still, listing broker Cathy Taub of Stribling says the price is comparable on square foot basis with condos at 455 Central Park West. Do you think it will get the asking price or will it be pricechopped?
· Manhattan Valley Church Gets Its Redemption [WSJ]
· Listing: 134 Manhattan Avenue [Stribling]