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A gut renovation opened up this now loft-like Williamsburg home. Photo by Ensemble Architecture

Renovating a house can be one of those bank-account-draining experiences that make a designer shoe habit or dining in three-star restaurants look cheap in comparison.

But how much does it cost — or should it cost — to renovate a home? Some believe a top-shelf Brooklyn townhouse renovation costs at least $1 million. But there’s also a vocal subset who hold fast to the idea that almost any house can be renovated for $200,000 — or less.

Who’s right? Read on to find out.

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The owners of this late-19th-century two-story wood-frame were ready to abandon their dream of adding square footage, after the first architect they consulted produced a design that would have been way beyond their budget.

But then they were introduced to Thomas Warnke, whose pared-down philosophy enabled the job to go forward at a price the couple could swallow. “I prefer clean and simple lines, not too many competing ideas in one project,” said Warnke, originally from Germany, who established his Brooklyn-based design practice, space4a, in 2007.

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If you’ve ever renovated an old house, chances are there are some things you wish you’d done differently. Here are the top 10 things to know before you start — all from hard-won experience.

10. Do everything at once up front.
It will seem more expensive, but we promise you will save money and mental trauma in the long run. You only want to open and close the walls once. Plastering, painting and floor refinishing should all be done before you move in.

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This month marks Brownstoner’s Steel Anniversary. We’re taking some time to look back at our past, even as we design a new future.

A sunken living room with a fireplace. A bathtub with a view. A secret garden. Balconies and roof decks. Even a 40-foot-tall fluorescent light installation running from basement to roof.

In designing his home in Red Hook, a circa-1900 brick row house on a cobbled street one block from the water, and carrying out a near-total renovation of what was little more than a shell, Thomas Warnke put in pretty much everything he ever wanted.

Though currently a hot commodity, brownstones aren’t known for their energy efficiency.

“It’s amazing how much money is spent just heating building materials,” Michael Ingui, Partner at Baxt Ingui Architects, recently told Brownstoner. But that’s no longer the case in at least one newly renovated townhouse — the first passive-certified, landmarked home in Brooklyn.

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An extravagant but dilapidated Brooklyn brownstone famed as the family home in Spike Lee’s Crooklyn made headlines when it sold for $1,700,000 in 2013. Now newly restored and decorated, the home debuted Saturday as a bed and breakfast.

Built in 1887 in the Renaissance Revival style, the house was designed by one of the borough’s finest 19th century architects, George P. Chappell. It is full of his signature original touches, such as as custom woodwork with foliate motifs you won’t find in any other row of brownstones.

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Photo by Steve Chan

It’s the thing in Brooklyn these days to convert chopped-up brownstones back into single-family homes. Rarer is the instance when a homeowner beautifully transforms a single-family brownstone into condos.

But that is exactly what Amy Werba, a French-Italian former actress, did with the Halsey Street brownstone she purchased in 2012. When Werba acquired the 19th-century Italianate home, it was not aging gracefully.

“The brownstone property was in terrible shape,” Werba told Brownstoner. “The home was squatted in with everything becoming rotten. Not a single original detail could be saved.”