The owner originally intended to develop the ground floor as a retail space and the upper two floors as an apartment. For this reason, he petitioned the Historic Preservation Commission for a certificate of appropriateness to turn the ground floor window at the left into a door, to give access to the retail space, and to cut windows in the large doors under the oriel, because retail spaces need windows. The certificate of appropriateness was granted, and the alterations were made, as seen in this screen capture from Stay Here.
The plan was to rent the retail space for $1,500 a month and the apartment for $2,000 a month, for a total of $3,500 a month. In the Stay Here episode, it is calculated that if the entire building were to be used for short-term rental, the monthly income could be $6,000, for an annual total of $72,000. Presented with this option, the owner, who had already invested close to half a million dollars in the building ($355,000 to buy it and $100,000 on rehabbing it), opted to develop it for short-term rental.
The episode of Stay Here portrays Hudson in a very favorable light. There is wonderful drone photography of the city, and the reality show principals, especially designer Genevieve Gorder, appear to have been tutored in Hudson history. What some Hudsonians may object to, though, is the show's message, aimed it seems at folks who live in Manhattan, that Hudson is "the perfect place to start a short-term rental."
I, of course, have some pedantic observations about the show. Early on, the owner says that the foundation of the building, which throughout the show is referred to as a carriage house, dates from 1789. I don't claim to know the history of this building, and I am genuinely curious to know the evidence that is the basis for this statement. In the 18th century, the city did not extend any farther east than Fourth Street. According to Franklin Ellis' History of Columbia County, Seventh Street was laid out in 1801, at the same time Union Street and Cherry Alley were extended. So if a building existed on that site in 1789, it faced a street that didn't exist yet.
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| The building, known as Hudson River Carriage House, today |
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| Detail of Beers Altas map for 1873 |
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| Detail of Beers Atlas map for 1888 |
COPYRIGHT 2018 CAROLE OSTERINK
Unsurprisingly, there's also no building recorded for that site on the 1851 map (published by J.E. Gillett).
ReplyDeleteThe big numbers are based on 100% occupancy, the reality, it never happens. Ask a local guest house owner. It is all real estate speculation, and speculation is really guessing the future, some will get hurt. The problem is when elected officials become tools of the gamblers.
ReplyDeleteI watched the show, and thank Carole for bringing it to our attention.
DeleteActually the projected $6,000 per month gross revenue figure was based on 50% occupancy, which seems like a ballpark figure (along with the projected average daily rate of $250 for the upstairs unit, and $150 for the downstairs studio). However, unlike with a long term rental, the owner who lives in NYC will need to pay for a host and for cleaning services, and that will take a bite out of his net operating income. Still, even with that additional cost, it shows that at least for some properties, the conversion of properties into short term rentals is still the way to maximize profits in Hudson, and thus the ongoing public policy issue.
It would/will be interesting to find out how the art/furniture consignment idea works out. That is a very creative idea, that certainly would never have occurred to me.
According to Frank Melino, deceased owner of The Iron Horse, now Govenor's Tavern, who lived above his bar for 50 years, The Iron Horse building used to be an Inn. The warehouse behind, which we used to own, housed the horses and carriages, the later being taken upstairs by the very large elevator inside. The Carriage House, which we also owned, opened into the upstairs of the warehouse with barn doors as did the downstairs, which we closed off to put a kitchen into the carriage house. All three buildings were part of one operation. Ships in South Bay could be seen from the turret of the Iron Horse. How much of all that is true I don't know except that there were indeed barn doors leading from the carriage house into the warehouse and the elevator still exists. I wonder why the Preservation Commission allowed the changes to the windows? Sure looked better before.
ReplyDeleteI thing it’s definitely 1889 and not 1789 as my property, which I researched extensively, was built in 1866 on N 5th and I believe there were no previous bldg’s on 24,22, 20, and 18th n 5th. Can’t believe that bldg existed when this was barely a community.
ReplyDeleteDo you have any contact information on the owner of the Hudson Carriage house?
ReplyDeleteI don't, but you can probably contact him through AirBnB: https://www.airbnb.com/contact_host/23026223?adults=1&children=0&infants=0&check_in=&check_out=
DeleteAlex.S.bates@gmail.com
DeleteI watched the entire show and I really liked the idea of renting the retail space for $1,500 a month and the apartment for $2,000 a month. I would suggest you to list the apartment on APT212 , a reliable platform to book readily available short term rentals in the top neighborhoods of Manhattan.
ReplyDeleteAlex didn't appear at all confident about the age of the building when he was asked on the show. "I think 1789 is the foundation" is all he said.
ReplyDeletePerhaps that was something he had been told but hadn't been able to verify.
The tenant mix for retail property must be optimised. In only that way can you attract the customers that support the tenants and underpin the rental for the landlord.
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