OPEN HOUSE for 1 BR/1BA unit #3C Sunday – Sept 12 -1-4 PM:
There will be a drawing for a $25.00 gift certificate Chat 19!!
One of the most popular restaurants in the village – so stop on buy for your chance to win!
Larchmont Condos & Cooperatives:
Often when buyers are first looking at Westchester coops and condos, they make a beeline to condo/coop hotspots like White Plains without giving a passing glance at some of the towns and villages in the surrounding areas. But often after looking for a while they realize that these towns and villages give them more of what they are looking for in terms of ambiance and convenience.
Larchmont NY has long been a popular destination for buyers of single family homes, but Larchmont is also a popular location for those looking for condos or cooperatives. A cluster of these condos and cooperatives are located in a prime location within one to two blocks of Metro-North. The two block area encompassing North Chatsworth Ave, Jefferson St., Washington Square and Myrtle Blvd. The area is not technically in the village of Larchmont, but is rather part of the unincorporated portion of the town of Mamaroneck. The area is zoned for Murray Ave Elementary school.
The Stonecrest – 21 North Chatsworth Ave – Larchmont NY:
Offered @ $220,000
The Stonecrest, located at 21 North Chatsworth Ave Larchmont is a luxury cooperative in a doorman building – located roughly two blocks from the train station. The stately Pre-War Tudor complex boasts one of the finest locations in the area. The Roughly two blocks from the train station and a similar distance to shopping and fine dining, I am hard pressed to think of a more convenient loation. The address has a walk score of 92 out of 100 making it a walker’s paradise.
This location is conducive to the lifestyle that the village offers. Larchmont restaurants offer up a wide variety of cuisine for this bedroom community which seems to have a penchant for eating out. During the warmer months, outdoor eating is very popular. Residents often walk from the train to the local shops or to their favorite restaurant before heading home. If you live at the Stonecrest, you can easily leave the car behind for days at a time.
The entry and common spaces in the complex have a decidedly Tudor aesthetic complete with wood beams and stained glass windows. The units themselves have high cove ceilings and spacious layouts. Most get a great deal of natural sunlight. Parquet hard-wood floors are also a marvelous benefit of living in an older complex. An interesting bit of trivia: Lou Gehrig and his wife called the Stonecrest his home until 1940.
There is a wait list for parking – and dogs are not allowed. Cats are permitted with board approval.
Recent Sales History at the Stonecrest:
The following charts below show the pricing history from 2005-2009. The sales volume in the complex is fairly low so statistically significant numbers are difficult to come by. The pricing peak in 2006 and 2009 for 2 BR units represent a situation where only one such unit sold throughout the year. These units were large 1 BR units that were both in the “A” line which is a line with 1450 sf. They represent a distinctly higher price point from other 2 BR units of more conventional size (1200 sf.) The gradual decline in prices from 2005 on is still apparent, however, it is more consistently reflected in 1 BR units which have dropped roughly 20% from a high median price of $327,000 in 2005 to $261,000. in 2009. 3 BR units have a history of commanding well over $600k. These units are large and closer to the size of a small home at 1800 sf than a typical cooperative. Studios are sometimes available and have sold for as much as $163,000, but tend to have a range that is slightly under $160k.
There have only been three sales in 2010 so far. All were technically 1 BR units. The higher priced unit had many upgrades including a top-of-the-line kitchen, built-in bookshelves and a separate den area. It sold for $275,000. The other two were 1BR units converted from what was actually a studio. Both were under 700sf. The average 1 BR unit at the Stonecrest is in excess of 800sf – making the standard 1 BR unit somewhere between 150-200 sf larger. So the low prices of these units which average $153,500 should not be taken too much to heart when looking at a standard 1 BR. Pricing depends on condition, but taking these three sales into account, a larger 1 BR with all the upgrades is worth considerably more than the current average sales price of $194,000. That price is skewed downward because two of the units that sold were not true 1 BR units.
Further Reading:
Living in the Village of Larchmont NY
Larchmont NY Condos & Cooperatives – Murray Ave Elementary School:
See more photos of the Stonecrest on Flickr:
© 2010 – Ruthmarie G. Hicks – thewestchesterview.com. All Rights Reserved.
