Historic Homes : Value and Trend

By Aura "Kymi" Manjarrez

Beautiful, full of history and charm, historic homes and apartment buildings are the new trend in the rising homeowner community. The question is : why?

To start off, people love stories. A home with a story is not only a great conversation topic to bring up at a dinner party, but also gives a sense of self-righteousness and importance that people can’t look away from; it makes the homeowner part of history, and who wouldn’t like that.

Secondly, the property value. As time passes (and depending on the building’s history), the price will doubtlessly rise and either be a great property to sell later down the road (as the market adjusts), or to pass on as a sort of family heirloom that can either be kept for family history purposes or resold down the road.

One historic space we recommend is Club 75, located across penthouse floor of 75 Rockefeller, is a members-only work and social club for global business leaders, creatives and entrepreneurs geared towards hosting, entertaining and cultivating business relationships. The space is inspired by Wallace K Harrison’s architectural masterpieces, including Rockefeller Center and the Met Opera House. Strong forms and bold geometries meet controlled curves in Club 75’s restaurant, meeting rooms, library, lounge, and study. Convene, the flexible space company that partners with landlords to design, build and operate class A office space, partnered with RXR on this incredible project.

Another amazing historic space and amenity is The Transcript, a 1920’s era speakeasy that has been fully renovated to its original grandeur at 63 Wall Street. It’s decor not only evokes the classic flappers era, it has helped attract a predominantly millennial rental audience. The original chandeliers were kept in place, while new banquets and bar seating were added for swanky comfort. The wildly popular amenity was created by Pinnacle City Living.

It’s important to consider that not every property will have either a great historic or market value, mostly because whatever historic event marked it has a lot to do ; a speak-easy has much more potential to be a great sale than a psychiatric hospital, unless one is a fan of the creepy and supernatural. On the other hand, the conditions of the building also have a lot to do with how much one can make from the sale and whether it is even convenient to put it up on the market or not; it all depends on how much care the previous owner puts on it.

Sotheby’s Realty has a fantastic list of some historic properties for sale around the world, a definite recommendation for those looking to buy or sell.

Have a listing you think should be featured contact us or email at Jeremy@offthemrkt.com to tell us more! Follow Off The MRKT on Twitter and Instagram, and like us on Facebook.