Real Estate Blog about whats going on in Westchester, Putnam and Dutchess Counties in New York
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By Frederick Romley on January 26th, 2012Houlihan Lawrence’s Early Spring 2012 Edition of the Gallery of Homes magazine has arrived. Browse over 1600 homes for sale in Westchester, Putnam and Dutchess counties and beyond.
The print edition is available to pick up from any of our Offices and at street boxes located in Westchester, Putnam and Dutchess counties as well as select Manhattan locations.
Click the cover to view the digital edition.
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By Anthony Cutugno on January 24th, 20122011 luxury sales for properties selling for $2 Million and higher remained relatively flat vs. year ago with a reported 227 home sales, down slightly from the 237 sales reported for 2010.
Nearly 70% of these sales were in the $2 Million – $3 Million price range, which traditionally represents the bulk of luxury sales in our region. While the luxury real estate market continues to be complex, we were encouraged to see a return of the ultra high-end luxury buyer to the marketplace this year. There were 17 homes selling for $5 Million or more, up from 12 sales reported in 2010 for this price range. Houlihan Lawrence was pleased to have participated in 13 of these high-end sales.
As the leading luxury brokerage in the area, representing approximately 47% of dollar volume for the $2 Million + category in Westchester, Houlihan Lawrence agents were involved in the top sales for many of our key luxury markets. Ranging from a $5 Million+ sale in Bronxville for a 1930s Colonial to the sale of the late Brooke Astor’s estate in Briarcliff for $6.45 Million to a record-setting sale of a 276-acre equestrian farm in Millbrook, these sales heralded the return of buyer confidence. As a result, our Luxury Country Properties Division reported one of the strongest sales years in our history. In fact, 3 listings from our Luxury Country Properties inventory achieved the highest sales prices for single-family homes in their respective counties in 2011.
The highest sale in Millbrook and the entire 3-county region of Westchester, Putnam and Dutchess Counties.
Overlook, Millbrook – Dutchess County – Sold for $18,375,000 – Listed and Sold by Adam Hade and John Friend, Houlihan Lawrence Millbrook Brokerage
The highest single-family home sale in Westchester and a record sale for Rye waterfront.
Milton Point Waterfront, Rye – Westchester County – Sold for $11,600,000 – Listed by Diana Plunkett, Houlihan Lawrence Rye Brokerage
This historic home represented the highest reported sale for Putnam County.
Whippoorwill Farm, Garrison – Putnam County – Sold for $5,650,000 – Listed by James Egan, Houlihan Lawrence Cold Spring Brokerage
Hot Luxury Markets
We haven’t seen any shifts in the most popular luxury markets over the years. Southern Westchester towns continue to be prized for their lifestyle amenities and proximity to Manhattan while Bedford and points north attract many buyers who are looking for a weekend retreat with larger acreage and greater privacy. Here’s a look at the top luxury markets in 2011.
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2011 Westchester County Sales
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$2 million and higher
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| Top School Districts | # of Sales | Highest Sale |
| Scarsdale | 43 | $10.8M |
| Rye City | 38 | $11.6M |
| Larchmont / Mamaroneck | 25 | $5.2M |
| Bedford | 23 | $8.4M |
| Bronxville | 23 | $5.15M |
| Harrison | 21 | $7.9M |
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2011 Putnam / Dutchess County Sales
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$1 million and higher
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| Top Towns | # of Sales | Highest Sale |
| Garrison / Cold Spring | 8 | $5.3M |
| Washington / Millbrook | 7 | $18.3M |
2012 Outlook
Forecasts predict a flat market for luxury properties in the coming year with demand expected to essentially equal 2011 activity. However, inventory levels of luxury properties remain quite high region wide so proper pricing will continue to be critical. The reported lowering of Wall Street bonuses, the continuing uncertainty in the major economies globally and our upcoming presidential election may all have some impact on our local real estate market. Despite these unsettling factors, we were pleased to see a small upswing in the number of showings and new deals for our luxury properties in late December. This level of activity is a good sign for the start of a new year and we expect that the uniqueness and beauty of the many special luxury properties we represent will continue to attract buyers throughout 2012.
For more information on the market or to view any of our luxury homes for sale, please visit us at www.houlihanlawrence.com
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By Suzanne Bijou on January 23rd, 2012Enjoy this week’s tour of River’s Edge, a waterfront estate on the Hudson River located at 115 Emerick Road, Saugerties, New York, 12477.
Have you ever dreamed of living on the Hudson River? Well your dream is about to be realized at this stunning waterfront estate privately set along the western shore of the Hudson River. This 6-acre oasis affords spellbinding panoramas of the majestic waterway along with magnificent gardens and a 40′ indoor pool wrapped in windows to optimize the water views. One of the estate’s most exciting features is its rare direct access to the river thanks to expansive waterside terraces and use of a private dock. An additional 11 acres of under-water property is also included, offering the potential for an expanded dock facility. Appealing to boating enthusiasts and nature lovers alike, River’s Edge is an exceptional waterfront retreat, ideally situated just 90 miles from New York City.
For more information on River’s Edge or other Hudson River homes for sale, please visit us at www.houlihanlawrence.com.
Don’t miss last week’s video of Sky Meadow, an exceptional Purchase Colonial, located at 3 Sky Meadow, Purchase, NY, 10577.
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By Gay Prizio on January 19th, 2012Rye, NY is the smallest city in Westchester County, but overflowing with community amenities and charm that make Rye an easy place to love and live:
For more information about living in Rye, take a look at our Rye Community video:
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By Frederick Romley on January 17th, 2012
Houlihan Lawrence has just released our 4th Quarter 2011 Market Report for New York’s Westchester, Putnam and Dutchess counties. Here is an excerpt from the report:
2011 marked a year of relative stability in the residential real estate market north of New York City, in contrast to the volatility seen in global financial markets.
Following the big bounce in home sales in 2010, we experienced modest declines in both units and median prices in 2011 across most of the region.
In Westchester, the median single-family home sold for $600,000, down 4.7% from 2010. In Putnam, median prices were up 3% to $320,000, breaking a 5-year downtrend during which prices declined a total of 25%. In Dutchess County, single-family home values were down 5% to an average of $246,000.
Although closed sales in the 4th Quarter showed the largest declines of the year compared to 2010, this reflects a lull in contracts signed during the August-October period. By November, buyer confidence had returned, and a notable number of deals were put together over the final 6-8 weeks of the year. Based on listings in contract at year-end – which typically close within 45-60 days – the stage is set for a relatively strong start to 2012, with the highest and lowest price ranges outperforming everything in between. [MORE]
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By Suzanne Bijou on January 16th, 2012Enjoy this week’s video tour of Sky Meadow, located at 3 Sky Meadow Farm, Purchase, NY
Cloistered on a private road, this architect-designed custom Colonial is set on 2.56 acres with a free-form pool and spa, a wisteria-covered cabana and a sunken Har-Tru tennis court. Noted architect Stuart Cohen designed the 7,200 square foot home, which delights with its understated elegance and many special features including a walk-out garden level offering an additional 4000 square feet of recreation space.
A spectacular blend of landscape and architecture, this just reduced offering represents one of the best values around. For more information on Sky Meadow or any of our other Purchase homes for sale, please visit us at www.houlihanlawrence.com
Don’t miss last week’s video tour of Mount Holly, one of the most impressive homes for sale in Katonah, NY.
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By Frederick Romley on January 13th, 2012Top New York Metro Real Estate Firms Join Forces to Launch Tri-State Alliance To Better Serve Consumers. Four Brokerages share listings and data to create unique online experience
In an initiative aimed at streamlining the home buying and selling experience in the New York metro area, four top residential brokerage firms have joined forces to create the Tri-State Alliance, a partnership launched today to share exclusive property listings online. The brokerage firms include: Houlihan Lawrence serving Westchester, Putnam and Dutchess counties in New York; Halstead Property serving New York City, the Hamptons, Fairfield County in Connecticut, Hudson and Essex Counties in New Jersey and Columbia County in New York; Coach Realtors serving Nassau and Suffolk Counties of Long Island; and Turpin Realtors serving Somerset, Morris, Hunterdon, Essex and Union Counties in New Jersey. Each firm’s exclusive listings will be searchable across all four brokerage websites, which collectively receive millions of visitors annually. The Tri-State Alliance brings together 68 office locations, more than 2,900 sales agents and nearly 8,000 exclusive listings.
“By combining our considerable resources, we are increasing the visibility of our exclusive listings which will help both our sellers and buyers,” said Chris Meyers, a Principal of Houlihan Lawrence. “In addition, we are increasing the brand awareness of our individual firms in markets where we might not have a bricks and mortar presence. It’s an extremely smart, efficient and effective way to further promote our companies and showcase our talented agents.”
“This move is unprecedented in our industry, and we are extremely proud of all of our efforts to develop this alliance that will better benefit consumers in a one-stop experience. This unique sharing and collaboration among independently owned and non-franchised brokerages developed from the mutual friendship and respect each brokerage has for one another,” stated Diane Ramirez, President of Halstead Property.
The four owner/brokers of each firm began discussing this unique and forward-thinking collaboration in early 2011. Last August, the four company owners met in the New York City offices of Halstead Property to formally begin the process. “Months of planning and collaboration went into making this happen, each brokerage, technical and marketing departments worked closely towards a single goal,” stated Georgianna Finn, owner of Coach Realtors.
“We are excited to be a part of this wonderfully collaborative effort, the result of which is a comprehensive search tool that will prove invaluable to consumers in the tri-state region. In addition to providing high quality listing data from the various regions we cover, each of our websites offers valuable resources like community profiles, property videos and helpful tips for navigating today’s real estate market,” John Turpin, President of Turpin Realtors.
Front Row: Chris Meyers, Principal – Houlihan Lawrence, Georgianna Finn – Owner, Coach Realtors Back Row: John Turpin –President, Turpin Realtors, Diane Ramirez –President, Halstead Property
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By Suzanne Bijou on January 10th, 2012Enjoy this week’s tour of Mount Holly situated in Katonah, one of the three hamlets that comprise the town of Bedford.
Noteworthy for its extraordinary natural beauty and privacy, Mount Holly represents one of Westchester County’s most illustrious homes for sale. From the grandeur of the beautifully restored 1928 stone and shingle manor to the stunning natural beauty of the surrounding 47.5 acres, this gated estate, set along one of Bedford’s prized unpaved lanes, offers a stunning blend of architecture and setting.
The residence, showcasing European elegance throughout it’s 12,900 square feet, is complemented by an 80′ pool, a guest cottage, multiple staff outbuildings, collector’s garages and extensive equestrian facilities. For more information on Mount Holly and other Bedford homes for sale, please visit us at www.houlihanlawrence.com
Don’t miss last week’s video tour of La Paz, an historic Hudson River Mansion located at 43 Linden Circle, Scarborough, NY.
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By Suzanne Bijou on January 3rd, 2012Enjoy this week’s video tour of La Paz, an historic Hudson River Mansion located at 43 Linden Circle, Scarborough, NY.
Named for the Spanish word meaning peace, this impressive stone residence was built by celebrated architect Bertram Goodhue in an historic Hudson River enclave designed by the legendary landscape architect, Frederick Law Olmsted. Goodhue, known for his many important commissions including St. Bartholomew’s Church in Manhattan and the Chapel at West Point, crafted the home of glittering Manhattan schist and sited it atop a gentle crest overlooking the Hudson River. A departure from the English-style architecture that was popular at the turn of the 20th century, the home showcases a clean-lined symmetry and simple elegance that remains as modern today as it was nearly a century ago.
Truly an architectural masterwork, the residence is cloistered in the Scarborough estate area of Briarcliff Manor bordering the Hudson River. For more information on La Paz and other Briarcliff Manor homes for sale, please visit us at www.houlihanlawrence.com.
Don’t miss last week’s video tour of Sligo Brook Farm, a view-filled country retreat located at 30 Keeler Lane, North Salem, NY.
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