The Chateaux Cooperative – Scarsdale NY

The Chateaux Cooperative - Scarsdale NY

The Chateaux Cooperative – Scarsdale NY

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 respect 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 in Scarsdale NY:

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.

 

The Chateaux – Recent Pricing  & Sales History:

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 - Scarsdale - Price History

 

 

The Chateaux Scarsdale - Price History

*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.

Local Amenities  in Scarsdale NY:

A big draw for buyers is the fact that the Chateaux is directly across the street from Metro North.  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 76 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 is also the world famous Zachy’s withe widest selection of fine wine imaginable which 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.org.

Whether  you are searching for a home in Westchester or selling your current home, I am here to help. To go to the next level, you can start a custom home search or ask for a home evaluation. All you need to do is click one of the links below or contact me directly so we can discuss your purchasing or listing needs.

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