Fading Glory

Fading Glory

In June of 1996 I was driving to the Tompkins County Airport on Warren Road, in Ithaca, when I spotted a For Sale sign on a house that was opposite the 17th green of the Cornell Golf Course. I noted the broker telephone number as I passed, and on a whim I called to see what the old derelict farmhouse was on the market for. This was before the era of Zillow and the ability to know the details of whatever house you wanted to investigate, whether it was on the market or not. I lived in the world of the New York City real estate market, where prices were always rising and where the weekly New York Times Real Estate Section was the Bible. I estimated that the house was worth perhaps $300,000 due to its location on the golf course and my knowledge of the course and the very few houses that were adjacent to the course. The broker returned my call within the time it took to drive the two added miles to the airport. She explained that the house was not actually for sale, but was for long term lease by the University. They were asking $110,000 for a thirty-year leasehold and there had been no takers due to the unusual nature of the deal. She furthermore predicted that there was lots of room to bring that price down and lengthen the term of the leasehold.

Later that day, I went to go see the house and met the broker, who told me she had succeeded in getting the University, who was new to this whole leasehold gambit, to agree that the leasehold should be for 99 years. My reaction to that was that if it was good enough for Hong Kong, it was good enough for me. I was a brash and successful banker at the top of my game, so I told her to offer $95,000 for it if they would agree quickly. They did and within a few hours I was back on the site with a contractor who was able to assess the damage and could estimate how much it would cost to refurbish the place. His initial assessment was $75,000. Being the shrewd businessman that I was, I knew that would quickly turn into $100,000, but I figured being into the refurbished property for under $200,000 would be a bargain.

I closed on the property in October and between then and the following June, I proceeded to spend $400,000 on the house renovation and had invested well over 2.5X than I had ever imagined. Chip and Johanna Barnes of HGTV fame would have been embarrassed by what I had done to this Ithaca “Fixer Upper”. In all fairness to the estimating contractor, there were not only hidden flaws which we uncovered along the way (aren’t there always?), and the project “creep” that involved adding a totally new carriage house (a.k.a. Garage with living quarters above) and an in-ground pool and patio, but the project budget suffered from the profligate ways of a New York Banker living in the booming 1990’s when money grew on trees and Ithaca dollars were worth 10X compared to New York City dollars. The only thing less disciplined than the spending on this whimsical project was the creativity of the reasons I came up with as to why it made all the sense in the world to spend this much money. Needless to say, I would be enjoying this property for many years to come and it would all be worth every penny.

It is now twenty-three years later and I can honestly say that it was worth every penny spent and then-some. I am siting in the sun-filled kitchen and am amazed at how well all of the work and decisions made in that rushed seven-month renovation cycle have held up to the intervening years. The unique add-on kitchen alone, done in what can only be described as a mash-up of country chic and Tuscan-modern is a marvel. The high vaulted ceiling with the 17 flags of the Contrade of Sienna and the Abruzzi painted pottery go very well with the Palladian window pointing east to catch the morning sun over the 9th hole of the gold course. It all looks as stunning as the day it were conceived. The composite Corrian light green counters against the white classic cupboards could have looked outdated, but actually looks as nice as the day it was installed. It still works well with the green country stools and matching white and green checkerboard tile floor. It may not be everybody’s cup of tea and it certainly doesn’t look modern, but it looks timelessly elegant, just as one hopes things will stand the test of time.

I will not detail all the other aspects of the interior decoration, which for the most part hold up as well as the kitchen, but will make one added comment about the exterior. I designed and commissioned carved and gilded wooden plaques approximately two feet squared with a Ram’s Head and the initials RAM. Don’t ask me why a guy who always refused to monogram his shirts was so hung up on having a monogrammed house, but I was totally into it. I had a half-dozen of these made and placed in the various peaks of the house and carriage house. Over the years of having the house maintained, repainted and power-washed, those plaques have just stayed in place untouched and weathered like the sides of my face. There is nothing resembling the gold gilding about them,and I’m glad to say that while you can sort of make out the Ram’s Head motif, the initials are barely discernible. They have taken on a weathered patina that is quite becoming and far less ostentatious than the original gold gilding. It all helps me avoid the infamous, “What was I thinking?” mentality that often accompanies decorating decisions.

This important family heirloom vacation home that is now extra-special to my granddaughters who think of it as their own has provided me and my family an anchor and set of roots that go well beyond the few old dollar bills that were spent to bring it into fruition. I would go so far as to say that this is a fixture in the town, on this campus and mostly, in our lives in a way that few other things are. My daughter’s family has been here for a week. My wife and I joined for the weekend. The house takes a rest for a week and then a dear friend from college comes to stay for a week to install his only son in the freshman class. Then, the next weekend my youngest son comes up here with his buddies, all of whom have come here often over the years. By then the summer will be winding down and my wife and I will return with several friends for Labor Day.

There are aspects of this house that have faded over the years. I will go so far as to admit that the glorious, gilded aspects have faded to a dull patina. But the real glory of this homestead remains and will always be its enduring ability to provide a centerpiece for the life of my family, the immediate, the extended and the broader-still web of friends and acquaintances of all of those who I hold dear.