House of the Day: 99 Butler Street

99 butler street boerum hill 62014

This brick townhouse with carriage house in rear was gut renovated by architect and seller Michael Ingui of Baxt Ingui Architects, who lives in the rear carriage house. The front townhouse is fairly traditional in style with three units, each with original wide plank floors, marble mantels and tin ceilings. In the back is a landscaped garden and the carriage house, which has been modernized inside and out. It’s set up as one-family over three floors with three bedrooms and two bathrooms. What do you think of the property and the asking price of $3,300,000?

99 Butler Street [Brooklyn Bridge Realty] GMAP

23 Comment

  • BoerumHill

    What’s not to like? You can live IN the garden and have front row seats to your three tenants. And vice versa. That’s probably not awkward. At all.

    • Not any more awkward than sharing a brownstone with tenants and having them live below or above you.
      This set-up actually offers more privacy.

    • If you look at the floorplan this isn’t awkward at all.

      The carriage house has it’s bedrooms in the back. And the front house has the bedrooms in the front for two units and only in the back for top unit — a unit so high up that it’s a floor above the carriage house and you can’t see in.

      Overall this looks like a really flexible and lovely setup. You live in the back where you have visual and acoustic privacy from your tenants… but you’re close enough that you can be responsive and attentive. And the tenants, knowing the landlord is so close, will likely pay a slightly higher rent and take better care of the place.

  • Very tasteful renovation! I can also see a situation where the house is shared between families so it would be a shared garden amenity.

  • I really like this set up..especially because they are very difficult to find and rarely come on the market. I actually feel that it is more private than a typical townhouse, you can be completely removed from the street. Considering the comps in the area, i think its a deal.

  • What a wonderful way to live in the hustle and bustle of the city but yet have your own, private oasis to get away from it all. The carriage house seems like a wonderful space to live in with the beautiful front yard giving you that added bonus of outdoor space which is always hard to come by. Beautiful home indeed.

  • We love it! I especially love the private courtyard (I know our dogs would love it too). The kids love the picture of the playroom. We are going to the open house tonight. I think the front building would be great for our office and guest rooms for the Grandparents. I think it’ll be great to work and be near the kids.

  • Seems like a great price when you look at the fact that it is actually 2 buildings, especially around this beautiful neighborhood. Love the layout and the set up of the building in the front and the cottage house in the back, very smart.

  • I love this area and the restaurants along Smith Street. What a unique piece of real estate with a building along the street, a private courtyard and private residence in the back. You get the best of both worlds. And it is so close to the subway and Manhattan. Wow.

  • Seems very expensive to me. No dimensions on that floor plan but seems very small. 3rd bedroom is size of closet and 2nd bedroom would not even have room for a dresser. I’d say renovated house even including the below grade basement is 1100 sq ft.
    Renovated does not apply to the rentals in front.
    I think there are 3 houses in row here that have a ‘rear’ house.

  • The layout is so unique and the garden and back house quite lovely. I would certainly appreciate the outdoor space for my kids/pets to come in and out as they please without having the worry of anything really. Tenants in front building seem to be removed just enough to not be in each other’s way. And as a landlord, having the ease of getting to a problem immediately is a plus in my book! Not many comps in neighborhood but the few available seem comparable. And the best of all is the proximity to all the good stuff on Smith.

  • Wow, Boerum Hill…have you actually seen this property? You do realize you live in a city, right?

    I went to the open house this past weekend and was floored by how amazing the work was done. Admittedly, I’m not in the market to buy a property now, but if I was this would be perfect. The rentals of the 3 front units would pay for the total mortgage AND I would get to live in an AWESOME house. I especially like the finished basement and staircase going upstairs.

    • Highly unlikely that the 3 front units would pay the mortgage — even assuming you get average of $3,000 per unit (which seems a touch high for this block of Butler Street, but whatever), and even assuming you get 4% APR on a 30 year (not sure as this is probably classified 4 family), you would still need to put down about over 40% (or $1.3 million) to cover the mortgage.

      Don’t get me wrong, it looks nice in photos. But when you add the higher taxes (Prop Shark says projected taxes are $7,477) onto the mortgage, this “breaks even” only if the buyer has substantial equity in it from the get go .

      If you put down _only_ 25% (which is still a crazy $825,000), then your monthly nut is still over $4,000.

    • BoerumHill

      I have seen it. The rent roll is around $72K which with some touch up could ramp up to $90K assuming they aren’t RS. Which is great news, because now you only have to put $2.3M down for the rentals to pay for the mortgage.

  • I smell a lot of shilling posts on this thread.

  • BRRRR IT’S SHILLY IN HERE

  • I would take over the whole front house and have my parents take the rear house – although I really do love the way the rear house was finished. Great Place! So many different options and opportunities . I would turn the two smaller bedrooms in the carriage house into one larger bedroom or office. I love the proximity to Smith Street.

  • NeoGrec

    I agree many of these posts smell like shill. Look, the set up is fine — even desirable for many buyers. But personally the design finishes of the carriage house (those staircases — ugh!) don’t appeal at all given that there were done by an architect. Meanwhile the front house is barely renovated — funky old kitchens with exposed chipboard edging under the formica countertop and vinyl flooring in one instance. Lots more work needed there. Still, I daresay someone will want it.