The area couldn’t be more convenient.  It is highly walkable, you can leave the car behind for most of your day-to-day errands.  A 10 minute stroll puts you on a Metro-North Train to NYC.  The trip to Grand Central station in midtown is a mere 29 minutes by express.

Scarsdale Manor Complex:

Scarsdale Manor like many of the buildings surrounding it,  is a pre-war complex which is reflected in the grace of the structure and the grace  that the units inside convey.  A 1 BR unit can range in size from 725 – 950 sf while 2 BR units range from 900-1250 sf.  Many of the 1 BR units are sold as Jr.4’s  when they have a separate dining area.  Many of these units have been renovated from top to bottom allowing buyers to enjoy the best of the old as well as the new.  And speaking of modern amenities, the complex is wired for FIOS, Cablevision and Direct TV.

Scarsdale Manor – Sales History:

The sales history at Scarsdale Manor reflects the general market on Garth Road in the Scarsdale PO.  Prices for 1 BR units are down about 18% from the peak while 2 BR units are down about 16% from the peak prices  As of the end of 2011, the median price for a 1 BR unit in Scarsdale Manor is about $180,000 while the median price for a 2BR unit was $270,000.  Thats down from a peak of $220,000 and $320,00 respectively.   The area has held up relatively well when compared with other municipalities.  The proximity to NYC as well as the walkability of the area contributes to the ability of the complex to sustain these price points.  The lower volume over the past year may indicate that prices that are still declining – but for most part, the air appears to be out of this market and buyers would do well to take advantage of a near 20% price drop along with the very low interest rates that are now available.  By doing so it is easy to “lock-in” a low cost of living that if interest rates rise, we won’t be seeing again.

The charts below show the median prices before (in red)  and after (in green) the market crash of 2008.  The market for 2 BR units responded more strongly to the tax credit with an uptick in prices for 2010 – only to have the gains erased in 2011.   The sales volume is of slight concern.  This often indicates that the market is still declining.  Sellers certainly need to be realistic in their pricing.

For the latest  listing and sale information on Scarsdale Manor:

For the latest on sales stats and current listings  -  feel free to contact  me by phone – (914-374-5529) or email – (Ruthmarie.Hicks@gmail.com) or  you can simply fill out the form below – whichever method you prefer.  Don’t worry  – I do not sell, spam, or otherwise abuse your information!

© 2011 – Ruthmarie G. Hicks – http://thewestchesterview.com – All rights reserved.

Although Garth road bears the ever popular Scarsdale PO, the coops on Garth Road are located in the municipality of Eastchester.  But for all practical purposes, the location is is just like living in the Village of Scarsdale.  Just 30 minutes from Grand Central Station – the location is ideal for commuters.  For most residents, the train is less than a 10 minute stroll away.  The village of Scarsdale is equally convenient. Leaving the car behind is easy in such a prime location – easier in fact than for many people who actually reside in the town of Scarsdale.

Like most cooperatives, the bulk of these complexes -particularly those close to the train and town are prewar buildings with a great deal of character.

The complexes of Garth Road Scarsdale:

• The Northgate – 105 Garth Road
• Eton Lodge  - 117 Garth Road
• Eton Hall – 127 Garth Road
• The Kenilworth – 142 Garth Road
• Colchester Hall – 143 Garth Road
• The Craigswald – 187 Garth Road
• Scarsdale Manor – 174-198 Garth Road
• The Thornycroft – 209 Garth Road
• Garth Essex – 230 -260 Garth Road
• Garth Woods – 235 Garth Road
• The Buckingham – 253 Garth Road
• Garth Manor – 281 Garth Road

General Sales History and Pricing on Garth Road:

Cooperative complexes across the county have undergone a major market correction over the past few years.

The charts below show an overall decline of  of roughly 20% for both 1 BR and 2 BR units over the past six years. Median prices for 1 BR units have fallen from $214,000 to $171,000 since 2006.  For 2 BR units the price drop has been from a median sales price of  $344,000 in 2006 to $273,000 in 2011.  Although sales volume is well off from the peak of the market, it is healthier than some other areas and the decline has leveled off – and at these prices, it is likely that demand will increase significantly in 2012.  Certainly it is far cheaper to purchase a cooperative than it is to rent anything comparable.  So this will drive buyers into the market in the near future.

Right now,  buyers should consider these complexes to be “on sale” and be ready to take advantage of what this market has to offer.  Waiting for the 35-40% off sale that may never happen, may prevent you from taking advantage of the 20% off sale.  Sellers need to be realistic.  It is no longer 2005-2006 and it could be a long time before we see those prices again.

© 2011 – Ruthmarie G. Hicks – http://thewestchesterview.com – All rights reserved.

The Stonecrest Cooperative:  21 North Chatsworth Ave – Larchmont NY:

Newly reduced price on a prime unit in high-end doorman complex in a prime location…

Come to our Wine & Cheese Open House on Wednesday Evening – Oct 12 – from 5-7 PM!  Just a block from the train….

The Stonecrest of Larchmont  is an elegant pre-war Tudor cooperative with a rich history in an historic village.   Located on North Chatsworth Ave.,  the location is nothing short of ideal.  Few Westchester coops could compete with this location. Just steps from Metro-North and center of the village.

21 N Chatsworth Ave. has been a desired location since Lou Gehrig called the Stonecrest home.  This is definitely a leave the car behind location – with a coveted “walker’s paradise” score of 92 out of 100 from  walkscore.com.  The train, shopping and fine dining are just steps from your door.  In fact this location can easily be considered Sound Shore alternative to the famous Garth Road in Scarsdale.  Garth Road cooperatives are desirable because of their location near the village of Scarsdale and the easy access to metro-north.  The Stonecrest is even more walkable than most locations on Garth Road and is literally half a block from the New Haven Line.  Larchmont to NYC is an express stop about 35 minutes from midtown Manhattan.  In addition to all that you’ve got the Long Island Sound!  It doesn’t get any better than this!  People considering an entry level White Plains condo or coop – or perhaps a coop on Garth Road – would find the amenities of this complex very appealing.

This is a doorman building with a common laundry.  There is a waitlist for parking which can be either outdoor or indoor.

For more information on the Stonecrest including recent sales history – click here.

For more information about the immediate neighborhood – click here.

For more information about Larchmont NY – click here.

Unit #3C  -  A Large 1BR/1BA Coop:

For more photos from this Larchmont neighborhood and the Stonecrest – click here

For more photos of the interior of unit #3C – click here.

With 900 sq.ft. of space this is a very large space for  1 BR unit.  The living area is generously sized  The entry can easily serve as a home office space.  The bedroom is over-sized.  There is plenty of closet space and the potential for extra storage for rent.  The bathroom is brand new with new subway tile and a granite vanity. It’s a fabulous upgrade.  In addition the hardwood  floors with their unique detail have been  newly  refinished and there is fresh paint throughout.     The views from the living room, kitchen and bedroom are all tree-level views of North Chatsworth Ave.  The unit is bright and sunny with high cove ceilings.  The parquet and inlay detail on the living area floor adds a unique character.  The kitchen is in need of updating and this is reflected in the competitive price.

Cost of Living:

Maintenance Fee:  $779 without STAR – 50%  deductible (Note: this unit currently does not have STAR)
Parking Fee  -  (when available) $65/month for outdoor and $70/month for indoor.
20% minimal down payment.

$779.00 Maintenance
$822  monthly mortgage payment*
$1601/month gross outlay – before tax savings:

$1329/month  after tax deductions**

*  Assumes a 4.2% interest rate on a fixed rate 30 year loan.
** Assumes a top marginal rate of 28% with the above loan.  Does not include STAR which will be delayed until the next application cycle.

This is without STAR savings which would start to kick within a year. That would reduce net outlay conservatively by about $75/month.  This is ridiculously affordable.

Note that the calculations regarding tax savings is an approximation.  I am not an accountant and don’t even play one on TV!  However, this certainly beats renting in terms of total outlay for the space that you get and it’s win-win in that in a world or rapidly rising rents – this stabilizes outlay.

But just a little to the east you have virtually the same thing in Larchmont NY -  though this area remains a bit under most buyers radar.    Nevertheless there are a cluster of wonderful cooperatives  and condos located on North Chatsworth Ave., Washington Square and New Jefferson.  The complexes along this one square block  are just steps from the train and about 2 blocks from the heart of the village.  You can easily leave the car  behind for most shopping and fine dining.  NYC is 35 minutes away on the New Haven Line.   Larchmont is also an express stop during peak hours which is an added bonus.

Many of the complexes have doorman service.  There are several pre-war charmers including the building that Lou Gehrig called home during the first years of his marriage.  These buildings sport high-cove ceilings, hard wood floors with details that are not seen in modern buildings.  There is also easy access to the Long Island sound and parks such as Harbor Island and Manor Park where

So if you are looking on Garth Road in Scarsdale, consider taking a short drive along Weaver Street to North Chatsworth Ave where I am holding an open house at 21 North Chatsworth on Sunday Aug 7, from 1-4 PM.

For more information and links to more photos of this wonderful large 1 BR unit at 21 North Chatsworth Ave – Click here.  The link includes a video and some cost-of-living numbers.

©2011 – Ruthmarie G. Hicks – http://thewestchesterview.com – All rights reserved.

July 18 – A Night of R&B with Reunion
July 25,  Caribbean Rock & Roll with Twist of Fate
August 1 – Woodstock Here We Come with Back To The Garden 1969

It is this type of community event which makes Larchmont a wonderful place to live.   Memorial Park is just half a block from the wonderful Westchester cooperatives and  condos on North Chatsworth Avenue and Washington Square.   I always look upon the area as the Sound Shore answer to Garth Road in Scarsdale. Just steps from train and town the amenities are just as nice – if not better. An express stop – Larchmont is just 35 minutes to Manhattan.

Further Reading:

See my listing @ 21 North Chatsworth Ave. – Lou Gehrig’s  old home

Living in the Village of Larchmont

Larchmont Homes – Murray Ave. School

Larchmont Homes – Chatsworth Ave. School

Manor Park

© 2011 – Ruthmarie G. Hicks – http://thewestchesterview.com – All rights reserved.

The Stonecrest Cooperative:  21 North Chatsworth Ave – Larchmont NY:

BACK ON THE MARKET AFTER FULL BATHROOM RENOVATION!

Since this listing has its own page with its own domain name – I did not create a new posting for it.  So this is just to announce that the unit is back on the market after undergoing a complete bathroom renovation.  The price is very competitive and the location nothing short of ideal.

The complex is located in an area that is  the Sound Shore version of Garth Road in Scarsdale or downtown White Plains.   In fact, anyone looking for a condo or coop  in these locations would be well advised to take a serious look at the coops and condos on  North Chatsworth Ave. generally. Located steps from the train, fine dining and shopping it was rated a “Walkers Paradise” by Walkscore.com.  You really can leave the care behind!  Larchmont is an express stop on the New Haven line  – just 35 minutes from Grand Central Station.

Below are some photos of the interior of the unit – which is large in size has high ceilings and ample closet space and wonderful views.

If you would like to learn more about this listing including the affordable cost of living, a video and links to many more photos you can click here TheStonecrest3C.

© 2011 – Ruthmarie G. Hicks – http://thewestchesterview.com – All rights reserved.

The Scarsdale NY housing market is always set somewhat apart from the body of Westchester NY.  A market unto itself – it sets the trends for the rest.  How homes for sale Scarsdale NY fair is often the bellwether for the rest of the market down the road.  So, I was pleased to see that the real estate market of Scarsdale did very well in Q3 2010 – at least with respect to single family homes.  The condo market, that I am including for the first time due to the sales at Christie Place  – is too small to draw any major conclusions from – particularly since Christie Place represents a new price point for the area.  But the coop market was mixed when compared to the  previous year.  Even the most desirable Garth Road has significant inventory.  The divergence of these two markets is something that is being seen across the board and is not unique to Scarsdale.

Scarsdale  NY Single Family Homes:

This was a very good year for real estate Scarsdale NY if you were selling a single family home.  Median sales prices were $1,235,000 – up 23.5% over Q3 of the previous year.  That price increase was  in part due to the fact larger homes requiring jumbo loans started selling again.  Overall sales volume was up 44% with 91 homes closing escrow.   The current inventory of 112 homes is a little less than four months if you look at closed sales. However, contracts and pendings indicate  a 10 month inventory.  But this reflects the highly seasonal nature of that market.

Edgemont NY Single Family Homes (Scarsdale P.O.)

I include Edgemont in this group because many buyers don’t make a distinction between Edgemont and Scarsdale since Edgemont (in the town of Greenburgh)  has a Scarsdale P.O.  and zip code.

Prices in Edgemont made a similar move up in price with sales prices up 36.6%  over the previous year to a median price of $1,195,000.  Sales volume was similar to the previous year and with 34 active listings, there is a 5.6 or 4.1 month inventory on the market depending on whether you look at closed sales or current contracts.

Scarsdale NY Condos:

As previously stated, the sales volume was too low for any conclusions to be drawn. But the over 55 community at Christie Place has created a market where only a minimal market existed before. It will be interesting to see how this market develops in the future.

Scarsdale NY – Coops:

Price-wise the median sales  price for coops rose 21.3%.  But  a closer look at the numbers shows a more modest 3.5% price increase which is probably insignificant.  Call it flat.  In 2009 1 BR units dominated the sales roster – while in 2010 it was 2 BR units.  What is of concern is not the final sales price, but the high inventory in light of sales that were flat from the previous year – which was a slow year by any standards.  The fact that demand hasn’t picked up combined with a 9-12 month inventory overhang indicates a buyers market is still in full force.  This reflects weak demand for coops across the board. Although this market has held up better than most.

An Important Note About the Criteria for the Statistics*:

I handle each type of housing in Scarsdale differently. I also include a special section for single family homes in “Edgemont” which is really in the town of Greenburgh with a Scarsdale post-office and zip code.
For condominiums and cooperatives, I use the Scarsdale post office and zip code as my criteria. Many of these complexes are actually located in Greenburgh and Eastchester.
This reflects the way most buyer’s shop for housing. Coop and condo buyers work by address whereas those looking for single-family homes are often shopping municipality and school districts.

Further Reading:

Scarsdale NY Housing Market Statistics – First Quarter 2010

Scarsdale NY Housing Market Statistics – Fourth Quarter 2009:

Scarsdale NY – Housing and Market Statistics for Third Quarter 2009:

Scarsdale Coops – Pet-Friendly Scarsdale Country Estates

Scarsdale Manor Cooperative – Garth Road -Scarsdale NY

The Chauteaux Cooperative – Scarsdale NY

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

A Tale of Two Markets

Single family Homes for sale Scarsdale NY – are doing well.  Volume is up, inventory is down and prices are higher over Q2 2009.   Edgemont (which is part of the town of Greenburgh with a Scarsdale P.O. – confirms that pattern. Cooperatives reflect another market altogether.  Although sales volume is up – prices are flat. Even units on the famous Garth Road are not moving rapidly.

Single Family Homes – Scarsdale NY & Edgemont NY

Prices of Scarsdale Homes for sale were up 16% from Q2 of the previous year. The median sales price was $1,295,000 with a range between $540,000 and $3,975,000.  Sales volume was up 22% over the previous year with 44 homes sold in Q2. These numbers encompass all of the elementary school zones  including Edgewood Scarsdale, Fox MeadowScarsdale, Quaker Ridge Scarsdale Heathcoate Scarsdale and Greenacres Scarsdale.  Inventories are low with about 4.5 months of inventory on the market when you look at current contracts and pendings.

The Homes in Edgemont showed dramatic improvement in both pricing and sales volume.  Sales prices are up 57% to $1,120,000.  Sales volume is up over 300% with 19 homes sold in Q2 2010.  Inventories are still on the high sit with about 7.5 months of overhang on the market.

Cooperatives – Scarsdale NY

Cooperative sales prices remained flat in 2010 when compared with Q2 2009.  This reflects the very soft market for Westchester coops seen throughout the county.  Indeed, the Scarsdale market – including Garth Rd in the Scarsdale P.O.  has done far better than similar areas with an easy commute such as White Plains and Larchmont.  Median Sales price was $210,000.  The price range was wide from $95,000 for a small studio to $690,000 for a 3 BR coop in the village of Scarsdale steps from the train.

An Important Note About the Criteria for the Statistics:

I handle each type of housing in Scarsdale differently. I also include a special section for single family homes in “Edgemont” which is really in the town of Greenburgh with a Scarsdale post-office and zip code.
For condominiums and cooperatives, I use the Scarsdale post office and zip code as my criteria. Many of these complexes are actually located in Greenburgh and Eastchester.
This reflects the way most buyer’s shop for housing. Coop and condo buyers work by address whereas those looking for single-family homes are often shopping municipality and school districts.

Further Reading:

Scarsdale NY Housing Market Statistics – First Quarter 2010

Scarsdale NY Housing Market Statistics – Fourth Quarter 2009:

Scarsdale NY – Housing and Market Statistics for Third Quarter 2009:

Housing and Market Statistics for Scarsdale NY – Second Quarter 2009:

Scarsdale Coops – Pet-Friendly Scarsdale Country Estates

Scarsdale Manor Cooperative – Garth Road -Scarsdale NY

The Chauteaux Cooperative – Scarsdale NY

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

The Stonecrest Cooperative:  21 North Chatsworth Ave – Larchmont NY:

This is so aggressively priced that it is officially ridiculous…BRING YOUR OFFERS.

The Stonecrest of Larchmont  is an elegant pre-war Tudor cooperative with a rich history in an historic village.   Located on North Chatsworth Ave.,  the location is nothing short of ideal.  Few Westchester coops could compete with this location. Just steps from Metro-North and center of the village.

21 N Chatsworth Ave. has been a desired location since Lou Gehrig called the Stonecrest home.  This is definitely a leave the car behind location – with a coveted “walker’s paradise” score of 92 out of 100 from  walkscore.com.  The train, shopping and fine dining are just steps from your door.  In fact this location can easily be considered Sound Shore alternative to the famous Garth Road in Scarsdale.  Garth Road cooperatives are desirable because of their location near the village of Scarsdale and the easy access to metro-north.  The Stonecrest is even more walkable than most locations on Garth Road and is literally half a block from the New Haven Line.  Larchmont to NYC is an express stop about 35 minutes from midtown Manhattan.  In addition to all that you’ve got the Long Island Sound!  It doesn’t get any better than this!  People considering an entry level White Plains condo or coop – or perhaps a coop on Garth Road – would find the amenities of this complex very appealing.

This is a doorman building with a common laundry.  There is a waitlist for parking which can be either outdoor or indoor.

For more information on the Stonecrest including recent sales history – click here.

For more information about the immediate neighborhood – click here.

For more information about Larchmont NY – click here.

Unit #3C  -  A Large 1BR/1BA Coop:

For more photos from this Larchmont neighborhood and the Stonecrest – click here

For more photos of the interior of unit #3C – click here.

With 900 sq.ft. of space this is a very large space for  1 BR unit.  The living area is generously sized  The entry can easily serve as a home office space.  The bedroom is over-sized.  There is plenty of closet space and the potential for extra storage for rent.  The bathroom is brand new with new subway tile and a granite vanity. It’s a fabulous upgrade.  In addition the hardwood  floors with their unique detail have been  newly  refinished and there is fresh paint throughout.     The views from the living room, kitchen and bedroom are all tree-level views of North Chatsworth Ave.  The unit is bright and sunny with high cove ceilings.  The parquet and inlay detail on the living area floor adds a unique character.  The kitchen is in need of updating and this is reflected in the competitive price.

Cost of Living:

Maintenance Fee:  $779 without STAR – 50%  deductible (Note: this unit currently does not have STAR)
Parking Fee  -  (when available) $65/month for outdoor and $70/month for indoor.
10% minimal down payment.

Loan Amount with 20% down:  $159,200

$779.00 Maintenance
$779.00  monthly mortgage payment*
$1558/month gross outlay – before tax savings:

**Savings on federal income taxes from mortgage interest and property taxes: -$264.00/month

$1294/month  after tax deductions**

*  Assumes a 4.2% interest rate on a fixed rate 30 year loan.
** Assumes a top marginal rate of 28% with the above loan.  Does not include STAR which will be delayed until the next application cycle.

This is without STAR savings which would start to kick within a year. That would reduce net outlay  to roughly  $1225/month.  This is so ridiculously affordable its insane. 

Comparable rentals in similar complexes in this location run  roughly $1800 -$1900 a month That’s a savings of $578-$678 a month or  $6936 – $8136 in savings a year. 

Note that the calculations regarding tax savings is an approximation.  I am not an accountant and don’t even play one on TV!  However, this certainly beats renting in terms of total outlay for the space that you get and it’s win-win in that in a world or rapidly rising rents – this stabilizes outlay.

Take it with you!

Just scan this QR code into your smart phone or iPad – and have this information at your fingertips! You can find the applcation at the following link: quiQR

© 2011 Ruthmarie G. Hicks – http://thewestchesterview.com.  All rights reserved.

The Chateaux in Scarsdale NY:

The Chauteaux is an elegant  pre-war  garden complex located just off of East Parkway on Chauteaux Circle.  Mature growth gives and the unique garden-style buildings a  tremendous amount of grace.  The setting is peaceful in spite of being in the middle of the village.  And you can’t ask for a better location.  You can easily leave the car for day to day errands.  Shops are just around the corner, dining out is just steps away.

The Chateaux – Recent Pricing  & Sales History:

The Chateaux is a smaller complex so statistical data is difficult to relay reliably.  Recent sales in 2009 reflect the fact that there is a wide variance in price between units that have been completely renovated and units that have just been updated.   A truly extraordinary down to the studs renovation can command a high price in this complex.

1 BR units ran the gamut between $220,000-$327,500 for 2009  Differences in location and floor number (since this is walk-up) square footage,  as well as the overall condition played a role in the relative pricing.

The same disparity in prices was seen in the 2 BR units where the range was between $390,000 and $595,000.  Once again – location within the complex, floor number, square footage – and most of all condition all played a role in the final sales price.

The Cost of Living at the Chateaux  in Scarsdale NY:

As in all cooperatives, the monthly fees reflect both property taxes and monthly maintenance.  Roughly 51% of the fees are taxes which are deductible.  The fees vary within a range depending on the number of shares attached to each unit.  Currently, monthly fees for 1 BR units fall in a range of slightly above $900- $976 per month. For 2 BR units the range is running from about $1325-$1360  per month.  These are rough numbers and vary from unit to unit.

Local Amenities  in Scarsdale NY:

A big draw for buyers is the fact that the Chateaux is directly across the street from Metro North. Click here for a Metro-North Timetable.  Less than five minutes and you are on the platform. An express train takes 29 minutes.  This is so convenient that it certainly rivals Brooklyn and even some locations in Manhattan in terms of the commute.

Another draw is that the neighborhood itself is considered to be highly walkable – WalkScore.com gave an address at next to Chauteaux Circle  an 85 out of 100 – a score that is considered “very walkable.”  For many errands, shopping and fine dining, it is easy to leave the car and simply walk.  There are numerous Scarsdale restaurants within walking distance including Sakura on Garth Rd and perhaps Chat imported from the famous Larchmont Chat 19. There is also the world famous Zachy’s withe widest selection of fine wine imaginable.  Of course Zachy’s – with its world famous selection of wine is just around the corner.

The area also provides easy access to the Bronx River Pathway - a linear park that runs parallel to the Bronx River Parkway – and provides residents with walking and biking trails that extend into the Bronx and up to the Kensico Dam in Valhalla.  For those who wish to travel further afield, the Bronx River Parkway is easily accessed and White Plains is just minutes away.

Scarsdale Schools:

Located in the Village of Scarsdale,  the school system serving the residents is the Scarsdale School system.  The elementary school serving the Chauteaux is the Fox Meadow School which receives a rare score of 9 out of 10 from Great Schools.