We were surprised and delighted to hear Australian investment firm Dixon plans to restore the unusually lavish but far-gone limestone at 259 Decatur Street in Bed Stuy, an estate sale and a flip that was boarded up and open to the elements for decades. The landmarked 1895 Renaissance Revival house was designed by architects Axel Hedman and Magnus Dahlander.
“We will be preserving and restoring this house back to the grand beautiful one-family that it once was,” Managing Director and CEO of Dixon Leasing Alan Dixon told us. “We have yet to appoint an external architect but our preliminary plans will create a four-bedroom, 4.5-bathroom single family residence over some 4,423 square feet. None of the original beautiful fabric of the house will be lost and it will be restored to its former glory.”
We have to give them props for taking on a project that does not look easy. When we toured the house, every level appeared to have some kind of water damage, and the floor of the dining room on the garden level bounced when someone walked by in the hallway. There is much spectacular detail to preserve, including an elaborate entry, a church-like middle parlor, a built-in icebox and quirky shelves in the butler’s passthrough, and a stained glass window in an upper-floor bathroom.
After an LLC bought it for $875,000 from an estate in February, it was on the market asking $1,699,000 all cash or at least 40 percent down. Dixon closed in May for $1,650,000.
We also noticed Dixon has started work at 605 Decatur, a small single-family house that was also in very poor condition but with a lot of detail when Dixon bought it last year. When we passed by last week, there was a construction fence up around the property and a Dumpster outside.
For those of you keeping score at home, Dixon now owns a total of 73 properties in Brooklyn, including 29 in Bed Stuy, 11 in Crown Heights, 10 in Bushwick and eight in Park Slope. More will be coming on the rental market soon.
Click through to the jump to see the preliminary restoration plans and photos of the interior from our visit.