On Friday, a reader sent me the link to this article in the New York Post: "Stunning historic Hudson mansion with rare widow's walk asks just $1M." The subject of the article is 326 Allen Street.
The house, which is located on Hudson's "stately homes block," has been operated as a bed and breakfast since around 1997 by two different owners--first by Ken Jacobs, and from 2006 to the present by Barry Butterfield. If you read the Post article, you will see that the house, which comes with an accessory apartment, is being sold completely furnished. Although the article rounds the price down to $1 million, the actual asking price is $1,025,000.
The price being sought for the house doesn't seem out of line with other houses on the stately homes block. The house across the street, 317 Allen Street sold in 2021 for $1.8 million. Eric Galloway's house, 345 Allen Street, which he purchased in 2001 for $460,000, was sold at the end of 2020 for $1.35 million. On the adjacent once private street, 4 Willard Place sold for $1,287,500 in 2021. These houses are the grandest houses in Hudson, built in the 19th and very early 20th century for some of Hudson's wealthiest residents.
Perhaps inspired by the article in the New York Post, an article featuring 326 Allen Street appeared in the print version of the Register-Star yesterday and in the online version today: "Advocates say historic home spotlights inequities." In it, Mayor Kamal Johnson is quoted as saying, "People are coming from major cities to pay for houses with cash. It is hard for people who were raised here, who have raised families here, who have a lineage in Hudson, to buy these houses." Housing Justice Director Michelle Tullo expressed similar concerns: "There is a major divide between the prices on the market and prices most residents of Hudson can afford." Neither expressed concern about the impact of rising real estate prices on Hudson residents who are already homeowners. Property owners only benefit from dramatic increases in the value of their homes if they sell them. If they stay put, resisting displacement and the chance to cash in on the current real estate boom, the increased value of their homes usually only means increased property taxes.
Both the article in the New York Post and the one in the Register-Star describe the architectural style of the house at 326 Allen Street as Italianate. It is not. It is textbook Second Empire.
Both houses--1 and 2 Willard Place--were acquired by St. Mary's Parish in 1916 and demolished in the 1950s to make way for the school building that now stands at the head of Willard Place.
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"People who were raised here" aren't going to be buying mansions on Allen St. The argument is a red herring. If buyers from elsewhere are willing to come here and help pay our property taxes and employ lots of local carpenters, plumbers, roofers, painters, etc., then god bless 'em.
ReplyDeleteMost towns would be thrilled to have new money and energy flowing into their local economy. But in Hudson, we see endless grumbling and moaning about it. This is a consequence of the 1970's, when jobs left the area and short-sighted policies led to a very bad housing situation and a decline in community self-esteem. The restoration of beautiful old houses isn't the cause of the economic distress in the disadvantaged segment of the community.
ReplyDeleteBirthrite residency is nonexistent. Neither is the linkage between higher property values and higher property taxes. Both are canards.
ReplyDeleteIt's crazy, for how high our property taxes are around here, that very few people understand how property taxes are calculated. A boom market doesn't mean the municipal budgets increase by that amount. Also, if your neighbor restores their property and increases their assessed value, it does not mean your taxes increase. They'll likely decrease. Long time homeowners who don't keep up their property should be thankful to the newcomers and renovators who have been taking on a larger portion of the tax burden.
DeleteI am so tired of the 'grumbling'. Many Hudson old-time residents profited from the sale of their houses, even back in the day. When I came here people couldn't wait to get out of Hudson. Indeed new people bring new energy and new money into town. Things just don't stay the same anywhere. Not surprising how inaccurate the newspapers are and never tell the real story - and also are incorrect in details such as what kind of house it is. Thank goodness for Gossips.
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