“A Vacation Cottage in Red Hook”

David Hay — When he went to see the 1899 building, he was equally undaunted by what surrounded it: the vacant lots on either side, the large expanse of overgrown land behind and the neighboring house that appeared to be collapsing.

He quickly made an offer, buying the 2,000-square-foot house for $760,000, and moved in.

The ground floor, an open garage, was uninhabitable, but the cramped apartment on the second floor was livable enough while he completed plans for the renovation — most of the time. “There were three nights when the roof was open and it poured with rain,” he said. “So that was unpleasant.”

The idea he came up with was simple: a contemporary version of a vacation cottage in the city. “Since I can’t afford a summer house, I thought, why not do it right here?” he said.

The work cost about $200,000 — $100,000 less than it would have if not for the discount offered by a young contractor eager to land the job.

Read more…