The Carriage Houses:
Sales History of Hudson Harbor…
Commuting from Tarrytown…
Hudson Harbor – Tarrytown NY…
Hudson Harbor is located right along the Hudson River against a major portion of the Westchester’s River Walk, a trail which, once completed will extend the length of the county along the Hudson. This development is a combination of luxury townhouses as well as condominium flats. Interspersed between the town homes will sit a complete community including shops and dining – creating complete mini-community along the Hudson River.
Hudson Harbor of Tarrytown is part and parcel of a massive effort to reclaim the riverside for residential and community use . Public monies including a complete renovation of the train station have been committed and the end result will be a wonderful walkable community on the river – Just steps from Metro-North.
Fine dining and other public amenities have already created a happy home for themselves at Hudson Harbor. A couple of examples that are just a small sample of what’s to come include:
- For a special treat, enjoy the Lighthouse Ice Cream and Coffee for a wonderful assortment of handcrafted ice cream, sorbet, gelato and much more.
- The ever popular Riverstone Yoga whose offerings include aerial yoga, hot yoga and flow.
- The innovative Rivermarket Bar & Kitchen represents local growers and producers throughout the Hudson Valley. They have a complete restaurant/bar as well as a fresh market. Founded by John Crabtree of Crabtree’s Kittle House fame in Chappaqua.
No matter where you look there are spectacular views – Looking south there is the Tappan Zee Bridge and the Manahattan skyline and looking north there is the Kingsland Point and the lighthouse as well as spectacular sunsets on the Hudson River.
Beyond the immediate Hudson Harbor community, the village of Tarrytown is host to some of the best fine dining in the area including the famous Blue Hill at Stone Barns. There is also the Tarrytown Music Hall, which has top-of-the-line entertainment throughout the year. For those who enjoy hiking there is the Rockefeller Preserve and the Aqueduct Trail as well as the Tarrytown Lakes for shorter walks.
Looking to the future, the redevelopment of the brown fields of the old GM plant in Sleepy Hollow will add an entirely new dimension to life at Hudson Harbor. Edge-on-Hudson will be a new commuter oriented community with commercial and residential development that retains the river town feel. The net effect will be a very walkable community encompassing the riverside area of both Tarrytown and Sleepy Hollow.
Sales History of Hudson Harbor…
Because Hudson Harbor is an on-going project, looking at sales stats and general outlook can be a bit tricky. To look at appreciation, resales are the best way to go, but they are going to be limited in quantity since due to the short time the development has been in existence. Many original sales were not on the MLS, which also complicates things. However, there are some numbers available from Phase I that show strong and steady gains in value.
For the townhouses, the strongest gains were made on the lower priced units, with appreciation at the time of sale being around 20%. This would be after holding the unit from 3-5 years. So realistically, thats an appreciation of 4-7% yearly. Good gains, but not in bubble territory. Interestingly a few units at the tippy top of the market registered some declines. These were initially sold for top dollar because of the magnificent views. Units that sold in the $1.5 million range or lower, posted very healthy gains.
Below are the median sales price for Hudson Harbor townhouses derived from the HGMLS. The gray bar represents sales as of Sept 1 of 2015. There is a definite up-tick in 2012 followed by another this year…though the second leg up really seemed to start in 2014. The closings for 2014 were concentrated in the lower price range, so median sales prices appeared weaker then they actually were.
The Stonehouse was harder to evaluate because the units were so varied and because resales haven’t been very frequent. Two recent sales posted gains of about 16% which translates from about 3.2-5.3% appreciation a year depending on how long the unit was held.
(Note: that the sales recorded come from the town of Greenburgh and the HGMLS.)
Phases II & III of Hudson Harbor – The Lookout Buildings…
The Lookout Buildings – (Lookout South and Lookout North) are sister buildings of with an identical footprint. As of September 2015, this phase is mostly sold out although a few units are still for sale in Lookout North.
Though sleek and modern with its use of glass, the wonderful stonework gives these buildings a unique character and is also reminiscent of the nearby Stone Barns. Each unit has outdoor space and the building is oriented such that every unit has a slice of a river view. Full river views, sold for a high premium in the initial sales. I have encouraged buyers to seriously consider the wonderful partial views as the price is far more affordable. All you have to do is walk a few feet to see spectacular views of the Hudson.
The chart below shows the sales history of both Lookout buildings as seen on the MLS. A couple of caveats are that many sales did not occur on the MLS, but the chart does reveal steady price gains from when the initial Lookout building opened for sale.
Phase III of Hudson Harbor – The Carriage Houses…
Meanwhile – Exciting news! Ground has broken on Phase III of Hudson Harbor and there is a model open. The building continues unabated and the vision for the Carriage Houses is coming to life.
The Carriage houses are a grouping of 27 town homes that take their theme and influence from the rich variety of carriage houses located at historic landmarks throughout the Hudson Valley region. They range in size from roughly 2200-2700 sf and are being crafted from local materials. Even though this phase is not directly on the river, the surrounding courtyard provides wonderful landscaping and the river is just steps from your door. As of this writing, a model is open, but the units are not quite open for sale. They are smaller than the townhouses from Phase I, but offer wonderful amenities and have a nice warm feel. Below are two slide shows from the Carriage houses.
Lookout II – will be similar to Lookout I in style and finishes, though the floor plans will be fresh and new. Once again each unit will boast either full or partial Hudson River views all with outdoor space. 450 This phase has yet to break ground, so stay tuned for more information. As of January 2013 looks as though this building will open for sales in a couple of months
Phase I – The Townhouses and Stonehouse…
Phase I has sold out. Townhouses have been available on the resale market on a fairly steady basis. Units in the Storehouse have been listed more sporadically.
The Townhouses from this phase that resemble New York City brownstones, but also somehow remind me a great deal of Georgetown in Washington DC. These homes are amply sized from roughly 3300 – 4500 sf with 3- 4 bedrooms each and dens that could also be realistically converted into bedrooms.
Initially the price points for these units started at $1 million and topped out at $2.5 million. Direct water views also play a significant role in pricing which partly accounts for the wide range. Further, some of the initial sales were pre-recession, which is also a contributing factor.
But as far as Hudson Harbor is concerned, that housing crisis is long since past. In 2015, two larger units (4520sf) sold for $2,250,000 and $2,625,000, showing that these prices are at, or above, their pre-recession high-water marks. In 2016, there were two sales of more moderately sized townhouses (3,283sf and 3410sf) sold for $1,950,000 and $2,075,000.
This is consistent with the general upward trend in higher-end housing and particularly true of walkable high-end housing with an easy commute. I had several clients who shied away from those nice lower price points back in 2010-2012. If they are reading this now, I’m sure they are a bit depressed at what they missed out on.
The Stonehouse – Took its theme from the famous Blue Hill restaurant at Stone Barns in nearby Pocantico Hills. The stonework and woodwork on the facade is very, very impressive and gives the building a striking appearance seldom found modern condominium complexes. Initial sales in this building sold in price range from $475,000-$1 million. Those prices have increased, and in 2016 there were two sales of 1 BR units in the Stonehouse for $595,000 and $650,000. So the trajectory has been upward.
Some additional links that might be helpful:
My Flickr Feed on the Tarrytown Lakes
The Commute – Tarrytown to Manhattan…
The Tarrytown to Manhattan commute is 38 minutes by express train on the scenic Metro-North Hudson Line. Tarrytown is a major stop along the Hudson Line and and express stop – so the community is well serviced. Although the Tarrytown to NYC commute is a short one you can easily find yourself a world away with some of the finest walking trails, historic landmarks Westchester has to offer. Yet you are still within walking distend of and high-end shopping and dining.
Commuting from Tarrytown by car…
Tarrytown has convenient access to most of the major throughways of Westchester County.
Access to Rockland County and New Jersey is just across the Tappan Zee Bridge on I-87 north. I-87 south provides easy access to Manhattan. The Saw Mill River Parkway and Sprain provide easy access to points north and south in Westchester Putnam, Duchess and the Bronx. The Saw Mill provides access centers such as Danbury CT, due east and the proximity to I-287 is key to an easy commute to other points of the county that are due east. White Plains NY is just about 15 minutes away. For a map of Westchester Parkways and Interstates – click here.
© 2012 – Ruthmarie G. Hicks – https://thewestchesterview.com – All rights reserved.