Curbed has chosen a project by Delson or Sherman Architects for its list of “New York City’s Most Beautiful Homes of 2019.” The project was the gut renovation of a twin house on Prospect Park West. With only ten projects selected, the twin house stands alongside some celebrities. These include I.M. Pei’s Sutton Place townhouse and Calvin Klein’s former penthouse in the Police Building.
Curbed notes the house “hit the market this year, asking just under $6 million”. In other words, almost double the purchase price from 2014. But the added value isn’t unusual for our office. When sold soon after renovation, our projects typically fetch 20% more than the original sale price and cost of construction combined. Renovation, as it turns out, makes a surprisingly good investment strategy.