Real estate in Scarsdale NY has a remarkably sparse number of cooperatives located within the Scarsdale municipality. The famous Garth Road cooperatives – though conveniently located with resepect to Metro-North and village shopping, are not truly in the Village of Scarsdale. If you are looking a cooperative that is located in the Village of Scarsdale with easy access to the train station as well as shops and Scarsdale restaurants, then the Chateaux of Scarsdale is one complex that fits the bill. The location couldn’t be better for the commuter – you can even grab a quick morning drink at Starbucks on your way to the train platform.
The Chateaux 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.
Up to the end of 2010 there were some very sturdy markets that appeared to be immune to the gyrations of the housing recession. Certainly, Westchester is far more resistant to correction than other parts of the country. But in 2011 this market, that had resisted a major correction, finally corrected…and the correction was severe because it came all a once. 1 BR units fell from a median price of $249,000 to $192,00 – a near 23% decline. 2 BR units fell from a median of $545,000 to $375,000 – over 31%. This correction in higher end cooperatives has also been seen in the Larchmont P.O. where the price drop has also been over 30%. These areas represent the highest end of these markets in areas that are close to the train and have sought after school systems.
*The Chateaux is a smaller complex so statistical data is difficult to relay reliably. The asterisks indicate years in which no sales were recored So I kept the median price the same as the previous year.
Although sellers have to be very realistic when listing their coops, this represents a rare opportunity for buyers. Buyers should be grabbing on with both arms because this could truly be a once-in-a-lifetime opportunity to get in at the ground floor with affordability that hasn’t been seen for over a generation. It really doesn’t get much better than this and buying now beats renting hands down. It’s not even close when the overall outlay is examined carefully. With rents increasing rapidly, I have to ask – yet again – what on earth are you waiting for? If you are rejecting the 30% off sale hoping to get a 50% off sale – you are taking a very big risk indeed.
© 2012 – Ruthmarie G. Hicks – https://thewestchesterview.com – All rights reserved.
Please feel free to contact me anytime to request additional information or to set up an appointment so we can explore your listing or purchasing needs. I am easy to reach by phone, text or email. Or, if you just want to continue your search online, the links below will help you get started.