To that end, one of Manhattan’s most distinctive dining attractions, Via Quadronno,   opened its doors in White Plains at the corner of Renaissance Square and Main Street – next door to the two 42 story towers that are the Ritz Carlton.   The location in the famous Art Nouveau Barr Building provides an interesting background standing next to the mirrored glass and sleek steel of the Ritz Carlton. That mix of old and new is very typical of the “new” White Plains.

The restaurant offers breakfast, lunch and dinner. The fare is distinctly Italian and includes their famous panini sandwiches, espresso, a wide variety of coffee drinks and ice creams. Via Quadronno adds White Plains, NY to its very select group of markets that includes the upper east side of Manhattan, Tokyo, Hong Kong and Miami.

The restaurant is open from 8 AM on weekdays with the kitchen closing at 10:30 PM. On the weekends, the hours are 9 AM to 11:30 PM.  Indoor dining seats 80 while the outdoor dining area pictured below seats 60 additional patrons during the warmer weather.  Reservations can be made on-line at www.opentable.com.

© 2010 – Ruthmarie G. Hicks – http://thewestchesterview.com – All rights reserved.

When buyers are looking for high-end single family homes in White Plains NY – A home with plenty of green space and old-world charm – Gedney Farms is the first neighborhood that comes to mind.  Gedney Farms was named after John Gedney  who bought the land in 1740.   Gedney Farms was a working farm that remained within the Gedney family right through the Civil War.  It has long ceased to be farmland and is now a well established neighborhood.

Through much of the Gedney area the  zoning is for no more than three homes per acre, so most lots have at least .33 acres of land  which for lower Westchester is very difficult to find at a decent price.   The roads are fairly narrow the wind around giving the feeling of country roads. No checkerboard streets here!  This is also a plus because the streets are generally quiet as this discourages cut-through traffic that sometimes occurs in other parts of White Plains.  The homes are a mix of Tudors and colonials many of them built during the Great Depression or before with a smaller percentage being built in the 50s and 60w. This is a mature neighborhood with very little buildable land remaining.

The Ridgeway Golf Course:

The Ridgeway golf course defines the neighborhood and depending on your location.  It bisects the Gedney neighborhood in several places and many of the homes have spectacular golf course views. Some even have the fairways coming right into their back yards giving an illusion of  almost endless open space.  This type of amenity is difficult to match in lower Westchester and is a world away from the hustle and bustle of the City Center and the Ritz Carlton of downtown White Plains.  Some homes have their back yards extending right into the fairways.  It looks like open space as far as the eyes can see.

Unfortunately, at this time the fate of the Ridgeway golf club is not settled.  Although the club has no wish to sell its land to developers, difficult financial times may force that issue.  So far they have been holding on.  Much of the area is wetlands, so the quantity of building would be quite limited. Nevertheless, the loss of such a vista would be a blow to the area.  Everyone is hoping that this issue will resolve itself as the economy continues to improve.

The Cost of Living:

All of this comes at a high price, however, Gedney Farms is far less expensive than comparable neighborhoods neighboring Scarsdale, Mamaroneck/Larchmont and Harrison.  Recent sales show an average price of $883,100.   this is down considerably from the highs of just 2.5 years ago, but remarkably sturdy given that most of the home that sold were on the smaller side.  The pricing not only reflects the price drop but the fact that smaller homes are selling better due to the problems obtaining jumbo loans.  Much depends on the location (golf course views are at a premium) and how recently the kitchens and baths were updated.  Since these were designed as luxury homes, excellent floor plans can be found even in the older homes.

Ruthmarie G. Hicks, http://thewestchesterview.com. All Rights Reserved.

The Surrey Strathmore  is a complex of six mid-rise buildings which surround a courtyard.  This is perhaps one of the more upscale  cooperatives in White Plains.  Built in 1939, the complex boasts some of the graces of a by-gone era.  The ceilings are 9 ft high, and graceful archways separate living room, dining room and kitchen areas.  Each unit has at least one of the Surrey Starthmore’s signature curio nooks. The floor plan is excellent.

Located at the Southern end of White Plains, the Surrey Strathmore is located on Bryant Ave which almost acts as the “dividing line” between the Southern residential area from the Northern downtown.  So, the Surrey Strathmore sits on the edge of the residential neighborhood, the Highlands where quiet walks on tree-lined streets are just a block away. Perfect for a walk with the dog.  On the other side is the beginning of the downtown area within walking distance of the famous and upscale Westchester Mall, Whole Foods, Cheesecake Factory, Morton’s Steak House along with some favorite local restaurants including Iannelli’s.  A bus taking commuters to the White Plains Train Station stops right at the corner of Bryant Ave and Old Mamaroneck Rd. – which is the Southwest corner of the complex.

The complex has its own parking facility, though there is a short wait list for parking, but most new residents get a parking spot within two to three months.  There is a municipal parking lot a little over a block away for additional spaces and for ample parking during the waiting period.
In addition to the courtyard there is also a picnic area complete with barbeque pits.

The Cost of Living:

The Surrey Strathmore has studios, 1 BR and 2 BR units.  Some 2 BR units have two baths, the other units all have a single bath. Many of the units have been extensively renovated complete with granite kitchens and high-end finishes. Sales have been light over the past year.   For 2 BR units there was a sale for $290,000 last June for a unit with 2 baths and 1250 s.f.  and currently one unit under contract.  For 1 BR units a recent sale of a renovated unit commanded $195,000 at 825 s.f. These prices are down considerably from their highs of a couple years ago.   There are also a few studios in the complex  – though these are few and far between and when they become available, they are in high demand.

For a 2 BR Unit:
Maintenance for a large 2 BR with two baths is around $1300 month. This naturally includes property taxes as is the case in all cooperatives.   50% of that fee is tax deductible.

Assuming 20% down payment on $290,000 and a fixed rate mortgage of 5.25%, the gross outlay for a unit like this would be roughly $2581/month for a 2BR/2 BA unit.    However, with tax deductions (assuming the 28% marginal bracket) the overall outlay is around $2117.00.  For a 1 BR unit

For a 1 BR Unit:
Maintenance is about $884/month and once again 50% of this is the property tax and is deductible.  Assuming a sales price of $195k and 20% down, the gross outlay for this type of unit would be $1745.00.  Factoring in tax deductions (assuming the 28% tax bracket) the overall outlay would be about $1431 a month.

Pet-Friendly Status:

The management is very dedicated towards maintaining the quality of life for all residents both two-footed and four-footed. Officially, there is a weight limit of 40-50 lbs, however, they are more concerned with the pet’s disposition than its actual size and larger dogs are commonplace. An interview of the dog is a prerequisite – size notwithstanding. I have had personal experience with the management and the board.  They do their best to accommodate people with pets.

© 2010 Ruthmarie G. Hicks, http://thewestchesterview.com.  All rights reserved.

White Plains  NY Cooperatives:

Cooperative prices were actually up slightly over the same period in 2008.  However, this slight uptick might be do to an increase in the proportion of 2 BR units in the sales statistics.  The previous quarter showed a grim 17% price reduction and recent sales in specific complexes indicates that this downward trend is continuing.  Since 2 BR units are suddenly far more affordable, buyers are finding that they can afford a larger unit.  Sales volume is down 17% over the previous year and the current inventory of 9 months indicates a buyer’s market undergoing  a price correction bordering on double digits.

White Plains NY Condominiums:

Condo sales remained very soft though pricing showed no further reductions after the near 17% decrease that happened in the third quarter.  However, the inventory is alarming because in spite of increased buyer activity across the board.  Currently there is a 13.1 month inventory sitting on the market which promises to increase as soon as the spring selling season gets under way.  Such an inventory is consistent with double digit price decreases.  Sellers should take care to take advantage of this lull in price reductions and price their units aggressively.

White Plains NY Single Family Homes:

Single family homes showed the greatest year over year price drop in this quarter.  Average home prices are down 24.2% year over year – shedding an average of $186,000 in value. The current inventory is  a bright spot.  The six month inventory indicates a buyer’s market undergoing high single digit declines, but this may be the calm before the storm once the spring market starts and people list their homes. Overall, sales volume is up over the previous year which would be a very positive sign if sales volume hadn’t been so desperately low last year.

Further Reading:

White Plains NY Housing Market Statistics – Third Quarter 2009.

Housing and Market Statistics for White Plains NY – Second Quarter 2009.

White Plains NY – Housing and Market Statistics for Fourth Quarter 2008.

© 2010 Ruthmarie G. Hicks – http://thewestchesterview.com – All rights reserved.

You never know when you are going to be surprised.  I was thrilled.  My father is a HUGE fan and as many of regular readers know, he is not at all well.  I quickly bought his latest book  to autograph for my Dad and waited patiently for him to arrive.

Well, I have to say it was worth the wait.  This man has enough energy to supply the entire metropolitan area with power for the next century.  The antics on his show which one might think are a put-on are really a reflection of his personality.  A friend of mine who was at one time a market analyst  once marveled – “I guess they found a brilliant bipolar who stopped taking his meds and gave him a show.”   But the energy is real.  Mr. Cramer spent about 30 minutes talking and probably about an hour signing.  I came away with a signed copy of his latest book “Getting back to Even” for my Dad and with a whole lot more energy than when I went in.

© 2009 Ruthmarie G. Hicks – http://thewestchesterview.com. All rights reserved.

White Plains Cooperatives:

The average price of a cooperative in White Plains has decreased to $181,000 – down $36,000 or near 17% from Q3 of 2008.  Sales volume was also down 38.5%.  Although sales picked up over the summer months inventories remain in excess of 12 months.  This is an excellent buying opportunity and sellers need to be realistic when pricing their homes.

White Plains Condominiums:

Condos have seen a sharp decline in prices. This is to be expected because during the boom a large number of condos were built creating a “natural” glut.  Sales prices are down 16.1% over the previous year to $463,000 – down $89,000 over the previous year. Sales volume was down 20% over the previous year.  Once again – this is a buyer’s market and sellers need to price their units to sell.

White Plains Single Family Homes:

Single family homes fared slightly better – at least at the starter level.  Homes in the move-up range were another story.  WIth jumbo loans hard to get and with a large pool of would-be move up buyers dealing with a depreciating values in the homes they are in – this is to be expected.  There is a glimmer of hope for entry level single family homes – but the rest of the market is languishing.  Prices are down 13.3% or $85,000 off the Q3 2008 average.

Further Reading:

Housing and Market Statistics for White Plains NY – Second Quarter 2009

White Plains NY – Housing and Market Statistics for First Quarter 2009

White Plains NY – Housing and Market Statistics for Fourth Quarter 2008:

White Plains NY – Housing & Market Statistics for 3rd Quarter 2008

© 2009 Ruthmarie G. Hicks, http://thewestchesterview.com

Newly Reduced Price – the most competitive price at Jefferson Place above the ground floor.

The Residences at Jefferson Place in Downtown White Plains NY.

Jefferson place is a new and very desirable complex located in downtown White Plains in the coveted 10605 zip code. The complex spans an entire square block between Livingston Ave. and Rutherford Ave. in White Plains, NY.  The units cover two major addresses: 300 Mamaroneck Ave. and 31 Greenridge Ave. The side facing Mamaroneck Ave. is an eight-story urban mid-rise with a sophisticated brick façade. The other side of the complex on Greenridge gives a bow to the suburban neighborhood of the Highlands that it borders. Jefferson Place is just steps away from all the shopping and dining that downtown White Plains has to offer.

Just across the street on the Mamaroneck Ave. side there is plenty of fine dining, take out and retail – all within easy walking distance of the complex. The heart of the downtown with all it has to offer is just a stroll down the street. Walk to almost everything: Shopping entertainment, fine dining and so much more. Walk score is 92 out of 100.

This Luxury 2 BR/2BA  Unit Offers:

* Over 1000 s.f.
* Top Floor Unit – the privacy of having no one above you.
* Balcony with plenty of light and spectacular city views.
* Working gas fireplace.
* Hardwood floors.
* Modern granite kitchen & baths.
* Walk-in-closets – LOTS of storage in the unit.
* Additional Storage comes with the unit.
* Full-sized laundry in unit.

For more photos, see the photostream for this listing on Flickr.

Jefferson Place Amenities:

Jefferson Place is well-known for the amenities in its common space. It offers luxury touches that are generally only  found in condo complexes with far higher price points. These include:

* 24 hour doorman.
* Indoor parking – this unit has a prime assigned spot.
* Club Room.
* Media Center.
* State-of-the-art gym.
* Business and conference center.
* Central AC.

COST OF LIVING

* Current Listing Price: $455,000
* Property Taxes: $7607 without STAR.
* STAR Savings:  $1525.
* Monthly Common Charges: $578.
* Monthly Mortgage: $2067*
* Gross Outlay: $3,152.

Net Outlay After Taxes:
$2546/month**

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* Conservative estimate includes FULL list price. Also assumes conservative 5.5% 30 year fixed rate loan with 20% down payment. Includes STAR savings.
** Assumes 28% marginal tax rate and fixed rate loan sighted above.

© 2009 Ruthmarie Garcia Hicks. http://thewestchesterview .com All rights reserved.

Buyer interest started to increase at the beginning of the 2nd quarter as lower prices and the stimulus package pulled buyers off the fence.  Towards the end of the quarter there were many more contracts and pendings.  The question in early June was whether or not the banks would actually fund all of the loans.  Fortunately, things started looking up and the market is again moving, although volume is lower than in years past is the order of the day.  This can be attributed to tighter lending standards.

Cooperatives:

Coops actually showed a price increase over the 2nd quarter of 2008. The 2.7% increase was small – but compared to the decreases seen in the condo and SF home markets, it is an encouraging sign. Coops are the entry level purchase for most first time buyers – which explains the resilience.   Sales volume overall is still down 24% over the previous year while inventory is estimated at about 12.5 months.  The inventory pressure will keep prices in check, but all in all – the coop market has fared better than the rest of White Plains housing.

Condominiums:

Condominiums have taken a real “hit” in this market.  Prices are down over 11% over the previous year while inventories remain very high.  Right now there are over 153 condos on the market  an absorption rate of about 8 units a month.  That’s up from the 3-4 units a month we saw at the beginning of the year. Still at the present rate of sales it will take over 18 months to sell off the current inventory.  Sales volume is down 46% from Q2 2008 and 60% from Q2 2007.  So this represents a serious buyers market.

Single Family Homes:

Single Family home sales have picked up over the last few months.  Single Family homes were the first to correct in White Plains as their downward price spiral started before the market crash.   Lower prices have driven buyers to make offers although the sales volume remains down 15% from the previous year.   Prices are off 11.3% from last year, but there are signs that the excess inventory is easing.  It will take about 11 months to absorb the present inventory.  This is a buyer’s market, but not a fire sale.  Buyers should be aware of the fact that they can get a good deal, but pushing the envelope too far will cost them.  Its  a market that is moving once again.

Additional Reading:

White Plains NY – Housing and Market Statistics for First Quarter 2009.

White Plains NY – Housing and Market Statistics for Fourth Quarter 2008:

© 2009  Ruthmarie Garcia Hicks  http://thewestchesterview.com. All rights reserved

Going into NYC for July 4th is great – but it can be a hassle.  Fact is you don’t need to go to Manhattan to see terrific displays.  Here is a short list of  lower Westchester events and fireworks displays.  This will help get you started….

You can start celebrating as early as tonight:

Events for Wednesday July 1, 2009

Playland’s Weekly Fireworks Display:
Starts at 9:15.   Offered by the Westchester County Parks Dept.  Admission for parking is $4.00

Location & Info:
Playland Park
Playland Parkway
Rye, NY 10580
(914) 813-7010

White Plains Fireworks Display:
An evening out at the White Plains High School. Includes fun for all With inflatable rides and food along with a children’s stage. Free to the public.  6-10 PM. (Rain date July 2)

Location & Info:
White Plains High School
550 North St.
914-422-1200

Events for Friday July 3, 2009

Kensico Dam Music Fest with the Westchester Philharmonic and Fireworks:

Gates open at 5 PM for picnicing – bring your own chairs and blankets. Car pooling recommended.  Concert begins at 8 PM.  This should be quite an event. Admission is FREE

Location & Info:
Kensico Dam Plaza
Bronx River Parkway
Valhalla, NY 10595
914-864-7275

Playland’s Fourth of July Fireworks Display:
Starts at 9:15.   Offered by the Westchester County Parks Dept.  Admission for parking is $4.00

Location & Info:
Playland Park
Playland Parkway
Rye, NY 10580
(914) 813-7010

Westchester Chamber Orchestra’s Independence Day Concert:
Featuring pianist Adam Kent performing 20th-century composers from the U.S.
Admission is FREE.

Location & Info:
One Library Plaza
New Rochelle, NY
914-654-4926

Scarsdale’s Concert and Fireworks:
Concert begins at 7:30 PM and the fireworks start at 9:15 PM.  Admission is $2.00

Location and Info:
Scarsdale Municipal Pool
311 Mamaroneck Rd.
Scarsdale, NY
914-722-1292

Sleepy Hollow Fireworks Show:

Begins at 9 PM.

Kingsland Point Park

Sleepy Hollow, NY

(Note I have no information on this event other than a sign on the road!)

Events for Saturday July 4, 2009:

Independence Day 1856 at Sunnyside:
10 AM – 5 PM – This is a full day event that includes dramatic presentations, period music and country dancing.  They are offering a game of “Town Ball” which is a 19th century version of baseball.  There are house tours and ice cream demonstrations. You can bring your own picnic or buy food on site. Admission is  $12 for adults, $10 for seniors and $6 for children 5-17 years of age.  Children under 5 are free.

Location and Info:
89 West Sunnyside La.
Tarrytown, NY
914-591-8763
www.hudsonvalley.org.

Tarrytown Fireworks Display: CANCELLED!!!!
Concert and fireworks at the gazebo overlooking the Hudson. Starts at 7 PM.

Location and Info:
Pierson Park
West Main St.
Tarrytown, NY
914-631-8347

Playland’s 4th of July Fireworks Display:
Starts at 9:15.   Offered by the Westchester County Parks Dept.  Admission for parking is $5.00

Location & Info:
Playland Park
Playland Parkway
Rye, NY 10580
(914) 813-7010

© 2009 Ruthmarie G. Hicks – http://thewestchesterview.com – all rights reserved.

Beautiful, totally renovated  4 BR/2.5BA Home has a fabulous flow that is perfect for entertaining family and friends with an additional 650 sq ft in the finished basement. Marvelous layout – perfect for entertaining. Here are some of the best features:

• Au Pair/ In Law Suite (or potential master) located on the ground floor w/full bath, large closet with built in shelves, brand new carpeting, access to a second attic, private entrance and patio.
• Brand new granite kitchen with stainless steel appliances; roll out cabinets, two pantries, plenty of storage.
• Large living room with beautiful fireplace, great sunlight and access to a covered patio.
• Formal Dining Room with lots of light.
• Three bedrooms on second floor. Very large master with his and her closets.
• Full attic with pull down stairs.
• Walkout finished basement with great storage (not included in sq. ft) complete with brand new carpeting.
• New windows (fold in for easy cleaning), New Anderson storm doors, new central air and new light fixtures throughout.
• Wonderful corner lot with plenty of privacy.  Tranquil setting perfect for those who enjoy outdoor living. Great space for dining or gardening.
• Large driveway, can accommodate up to 7 cars.
• Very short walk to tennis courts and track.
• The taxes are reasonable at $10,190/year which does not include the STAR reduction of $1525.

The current owners have done all the heavy lifting for you.  Nothing to do but MOVE IN and enjoy!

The house features 1825 s.f. of living space on the first and second floors with an additional 650 s.f. in the finished walk-out basement.

This location offers the best of both worlds.  Just minutes from the hustle and bustle of downtown White Plains, you have all the fine dining, shopping and entertainment our city is famous for at your fingertips.  Yet  Havilands Manor is a  quiet residential neighborhood that seems a world away from city life.  The commute to Manhattan is equally convenient.  It’s a mere 33 minutes by Metro-North to Grand Central Station.

For more photos of this listing be sure to visit the gallery offered on Flickr.

©2009 Ruthmarie G. Hicks – http://thewestchesterview.com – all rights reserved.