1890 Multi-family building with storefront | 3,200 sq. ft. | 5 bedrooms | 3 baths
LANDER STREET - NEWBURGH NY
City of Newburgh records show that 15 years ago, renovation work being done by the previous owner on this building was stopped because he had failed to get a construction permit. The owner walked away from the project, which at first glance appeared to be about two-thirds complete when we acquired it.
The building had pluses and minuses:
On the minus side —
Inspection revealed that most of the plumbing and electric was substandard
Failure to close the roof door had allowed rain to enter the building, filling the central hall area with mold
A central supporting beam in the basement had been cut through by a plumbing contractor, causing the building to sag by about an inch near the middle of the north wall
A neighbor had been using the lot next door as an outdoor junkyard; there were about a dozen old rusted autos, including a huge 1-ton 1950s pickup truck along with a 22-ton mountain of bricks.
On the plus side —
The brick exterior was in very good shape, requiring little pointing
The second and third floors had new vinyl double-pane windows
GALLERY: BEFORE RESTORATION PICTURES
click to enlarge
How the Lander Street Project Evolved into a Business Model
Lander Street was dwellstead’s start-up project in Newburgh and we were excited to see it underway.
dwellstead acquires properties for lease or sale but found that we could also build a business model helping others with the process. It all started with Ana's property. In the case of Ana we helped Ana find a city-owned property that was attractively priced, had historic value, showed energy-saving opportunity as well as income potential. We helped Ana put together her offer, vetted four contractors and then worked with a consultant to approve the scope and cost of the work. Buying a vacant property from the city, obtaining an FHA construction loan and finding a contractor willing to accept the terms of the loan at times felt daunting for Ana, but she found out that it was indeed doable.
Forging relationships. With this project, dwellstead learned how to navigate buying a city-owned property in Newburgh including zoning laws, construction permits, and applying for historic and energy tax credits.
Building a replicable business model to address a long-standing problem in Newburgh. One of the saddest things we see in Newburgh is the shoddy work performed on projects that were subsequently abandoned. It seems as if many people started projects thinking that since it was easy to buy a building on the cheap, that they could therefore get away with cutting corners and that the City wouldn’t pay attention to substandard work. They didn’t plan effectively and didn’t ensure that funding and work-plans were in place. They didn’t have the patience and endurance to stay the course when obstacles cropped up—as they inevitably did.
At the same time, many responsible people see the beauty and value in Newburgh but may feel overwhelmed by the process and don't know where to begin. Also, many of these old homes need a lot of work that most people don’t want to take on, or don't know how to.
In other words, although the housing stock in Newburgh presents a great opportunity, it also present challenges. This is why dwellstead was created: dwellstead puts the shine back into these diamonds responsibly, economically, and with style.
This building has two two-bedroom apartments, a studio and a store-front.
stainless steel kitchen appliances
Hard wood floors
A laundry room
9 foot ceilings throughout
wiring for cable TV, telephone and internet access
a surveillance system
Costs for these renovations came at approximately 195K. That's $60 a square foot.
THIRD FLOOR APARTMENT
SECOND FLOOR APARTMENT
GROUND FLOOR STOREFRONT, STUDIO, LAUNDRY ROOM
GALLERY: AFTER RESTORATION PICTURES
click to enlarge