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The Stoltz Bronxville Real Estate Market Report: 2016 Semiannual Summary PDF Print Email


By Sheila Stoltz, Associate Real Estate Broker, Houlihan Lawrence, Bronxville Office


Sep. 21, 2016:  The area markets continue to perform well, which is welcome news. Volume in this area is generally below the 2012-2014 high-volume years, and pricing is lower than in 2015 but still very close to historic high levels. 

The Bronxville area always seems to out-perform given its close proximity to Manhattan and its acclaimed school district. There are regional and local factors that impact our market and may temper price improvement and volume in the near term. 

The Bronxville market has always been impacted by the New York City market. Currently, the New York City real estate market is under pressure because of a number of factors. The strength of the dollar, Brexit, and the decline in oil prices have hurt demand from international buyers, especially for higher-end apartments. Supply in the high-end segment is also coming on line because of new construction. In addition, the continued contraction on Wall Street is decreasing demand in the NYC area. Buyers looking in Bronxville are finding it more difficult to sell their Manhattan apartments at attractive prices and some are forced to put off their Bronxville home purchase or rent.

The high-end market from New York City to Greenwich and beyond is oversupplied. Demographics, economics, and changing lifestyle trends are impacting the high-end markets. Bronxville is seeing increased supply in the high end because of these factors but also as a result of the high-end condominium development called Villa BXV, coming on line in 2017-2018. Empty nesters in Bronxville are purchasing these full-service apartments and either have or will list their higher-end homes in the next year or two. We have had a good high-end market so far this year, with four homes sold or under contract for over $4.0 million. Hopefully, we will continue to have good demand in this segment.

Overall, conditions remain very attractive in the housing market, with interest rates at historic lows and the stock market at historic highs. In addition, we generally have manageable inventory in our area. I do think the factors highlighted above will put some pressure on our market in the near term, but Bronxville and the surrounding areas have always been resilient.

I hope you find the following information and analysis helpful.

Bronxville Village Single-Family Homes

The Bronxville Village single-family home sale market remains steady, with continued strength in the $2.0-to-$3.5 million market segment. In addition, this year we have had a number of higher-end home sales, with four homes under contract or closed above $4.0 million. Currently, we have eight homes listed above $4.0 million. There are 37 homes sold and under contract so far in 2016, with 29 active listings. Hopefully we will have a busy fall market, as we are trending towards a lower volume year.

During the first half of 2016, the market experienced volume similar to that of last year but lower pricing, which was anticipated after the strong pricing in the first half of 2015. The median home sale price was $2.3 million, as compared to $2.8 million in 2015, and the average price per square foot was $656, as compared to $720 in 2015. In the first half of 2016, 22 homes closed, as compared to 19 in 2015.  Approximately 60% of all single-family homes in the village sold between $2.0 and $3.5 million in 2016.  The highest price paid in 2016 was $5.2 million, and the lowest price paid was $1.4 million. 

Bronxville Village Townhome Sales

Bronxville Village townhome sales, after two very strong years of pricing and volume, slowed in the first half of 2016. The townhome market segment remains very strong. The median townhome sale price in the first half of 2016 was $940,000, as compared to $990,000 in 2015, and the average price per square foot was $608, as compared to $625 in 2015. The highest price paid in 2016 was $1.465 million, and the lowest price paid was $810,000. In the first half of 2016, seven townhomes sold, and there are three under contract. There are only five townhomes currently on the market, representing very low inventory heading into the second half of the year. I expect continued strength in the townhome market going forward. Townhomes offer an "urban feel," an attractive Bronxville Village entry price point, and lower taxes in comparison to Bronxville Village single-family homes.

Bronxville Village Cooperative Apartments

Bronxville Village has a large apartment market, including approximately 1,200 apartment dwellings, most of which are co-operative apartments. After a strong 2015, the apartment market continued to perform well. The median sale price dropped from $550,000 in 2015 to $465,000 in 2016. However, the price per square foot increased from $450 per square foot in 2015 to $461 per square foot in 2016, which represents record per-square-foot pricing. Unit sale volume peaked in 2005, with 64 unit sales, and since 2011, unit volume has averaged about 45 units per year. Based on units sold and under contract, I anticipate a lower volume year in 2016. We currently have an inventory of 16 apartments for sale, which is very manageable.  The apartment market attracts newcomers to Bronxville who are interested in an apartment lifestyle and the affordable entry point. The apartments are also attractive to the empty nesters downsizing from larger homes but who wish to remain in Bronxville Village.

Bronxville P.O./Yonkers

The Bronxville P.O./Yonkers market was robust in the first half of 2016. The median home sale price increased from $763,000 in 2015 to $786,000 in 2016. The average price per square foot increased to $328 in 2016, as compared to $303 in 2015. In the first half of 2016, 26 homes closed, as compared to 15 in the first half of 2015. There are 16 homes under contract and 25 homes currently on the market, which is manageable for this time of year. The highest price paid for a home in 2015 was $1.925 million, and the lowest price paid was $425,000. 

Bronxville P.O./Tuckahoe

The Bronxville P.O./Tuckahoe market was stable in the first half of 2016. The median price for the first half of 2016 was $730,000, as compared to $727,000 in 2015. The average price per square foot decreased slightly in 2016 to $327 from $334 in 2015. The highest price paid in 2016 was $1.625 million and the lowest price paid was $399,999. In the first half of 2016, 14 homes closed and six are under contract.  Hopefully we will have a few more sales making 2016 a very strong volume year. There are 18 active homes on the market, which is manageable. In 2016, 50% of the homes sold between $500,000 and $1,000,000, and 36% of the homes sold for more than $1.0 million

Pictured here: Sheila Stoltz, an associate broker with Houlihan Lawrence, works at 4 Valley Road in Bronxville; her office number is 914-227-0400, and her cell number is 914-310-6220.  

Photo courtesy Bronxville office of Houlihan Lawrence


 

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Trustees Begin Process of Preparing New Comprehensive Village Plan; Demolition of Single-Family Homes Could Be Considered

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By Carol P. Bartold, Senior Reporter Jun. 28, 2017: The demolition of the stone house at 150 Midland Avenue was fully permitted, according to Village Administrator Jim Palmer, even though many...

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Real Estate Directory

Bronxville Overview

Bronxville is a quaint village (one square mile) located just 16 miles north of midtown Manhattan (roughly 30 minutes on the train) and has a population of approximately 6,500. It is known as a premier community with an excellent public school (K-12) and easy access to Manhattan. Bronxville offers many amenities including an attractive business district, a 400-bed acute care hospital (New York Presbyterian/Lawrence Hospital), public paddle and tennis courts, fine dining at local restaurants, two private country clubs and a community library.

While the earliest settlers of Bronxville date back to the first half of the 18th century, the history of the modern suburb of Bronxville began in 1890 when William Van Duzer Lawrence purchased a farm and commissioned the architect, William A. Bates, to design a planned community of houses for well-known artists and professionals that became a thriving art colony. This community, now called Lawrence Park, is listed on the National register of Historic Places and many of the homes still have artists’ studios. A neighborhood association within Lawrence Park called “The Hilltop Association” keeps this heritage alive with art shows and other events for neighbors.

Bronxville offers many charming neighborhoods as well as a variety of living options for residents including single family homes, town houses, cooperatives and condominiums. One of the chief benefits of living in “the village” is that your children can attend the Bronxville School.

The Bronxville postal zone (known as “Bronxville PO”) includes the village of Bronxville as well as the Chester Heights section of Eastchester, parts of Tuckahoe and the Lawrence Park West, Cedar Knolls, Armour Villa and Longvale sections of Yonkers. Many of these areas have their own distinct character. For instance, the Armour Villa section has many historic homes and even has its own newsletter called “The Villa Voice” which reports on neighborhood news.

Mortgage Information

Bankrate.com
www.Bankrate.com is a leading aggregator of financial rate information on the web. According to their website, Bankrate surveys “approximately 4,800 financial institutions in 50 states in order to provide clear, objective and unbiased rates to consumers.”

Bankrate.com, provides mortgage rate information along with rate information on “more than 300 financial productions”


The Federal Reserve Board
The Federal Reserve offers good advice on how to shop for a mortgage. Click on this link to read “Looking for the Best Mortgage.”
http://www.federalreserve.gov/consumerinfo/fivetips_mortgageshop.htm

Real Estate Companies

Bronxville Real Estate
171/2 Park Place Bronxville, New York 10708
914-337-1234
www.bronxvillerealestate.com


Century 21 Deed Real Estate
120 Kraft Avenue Bronxville, New York 10708
914-337-0400
www.c21deed.com


Coldwell Banker Carlson
105 Pondfield Road Bronxville, New York 10708
914-337-3141
www.coldwellbankercarlson.com


Houlihan Lawrence
4 Valley Road Bronxville, New York 10708 and 89 Pondfield Road Bronxville, New York 10708
914-337-0400,914-337-5400
www.houlihanlawrence.com


Houlihan & O'Malley
133 Parkway Road Bronxville, New York 10708
914-337-7888

www.houlihanomalley.com


Julia B Fee Sotheby's International Realty
2 Park Place
Bronxville, NY 10708
914-620-8682

http://www.juliabfee.com


Lydia Maria Real Estate
120 Pondfield Road Bronxville, New York 10708
914-337-1720
www.lydiamaria.com


Miller Real Estate
89 Pondfield Road Bronxville, New York
914-395-0270

Real Estate - Attorneys

Bertine, Hufnagel, Headley, Zeltner, Drummond & Dohn LLP

Established in 1929, Bertine, Hufnagel is "a general practice law firm, offering clients expertise in both individual and commercial matters." Their broad range of services include the following: Wills, Estate
Planning and Taxation, Probate and Estate Administration, Elder Law, Real Estate (commercial, residential, condominiums and cooperatives), Commercial Law and Transactions, Litigation and Banking Law.

700 White Plains Road
Suite 237
Scarsdale, New York 10583
(914) 472 7700
(914) 472 1946 (fax)
www.bertinehufnagel.com


Suzanne M. Bloomer
Wills, Trusts, Estates and Real Estate

85 Pondfield Road
Bronxville, New York 10708
914-337-0142
smbloomerattorney@msn.com


Bosworth, Gray & Fuller
Wills and Probate, Real Estate, Media Law, General Litigation

J. Rockhill Gray
David Otis Fuller, Jr.
116 Kraft Avenue
Bronxville, New York 10708
(Tel) 914-337-3626
(Fax) 914-337-3630
dofjr@aol.com
www.bosworthgrayandfuller.com


George R. Mayer, Esq.
65 Pondfield Road #6 Bronxville, New York 10708
914-337-3033 (tel)
914-337-1038 (fax)
www.bronxvillelaw.com
grmayer38@aol.com


Griffin, Coogan, Sulzer & Horgan, P.C.

Attorneys and Counselors at Law

Located in Bronxville, New York, Griffin, Coogan, Sulzer & Horgan, P.C. takes great pride in providing our clients with comprehensive, high quality legal services in a responsive manner. The firm concentrates its practice in real estate law with a primary focus on issues relating to real estate tax litigation (also known as tax certiorari), real estate transactions, valuation law, real property taxation and tax planning and real property tax exemption matters throughout New York State.

The firm serves as general counsel for several local cooperatives and represents clients in various issues relating to wills, trusts and estate planning.

51 Pondfield Road
Bronxville, NY 10708
(914) 961-1300
info@gcshlaw.com

www.gcshlaw.com


Kim O'Toole, Esq.
80 Sagamore Road
914-961-6175 (tel)
914-337-3292 (fax)
kotlaw@verizon.net


Mary Anne O'Callahan, Esq.
32 Gramatan Court Bronxville, New York 10708
914-779-3558 (tel)
914-779-5182 (fax)
maocallahan@verizon.net


Nobile, Magarian & DiSalvo

We are hardworking and dedicated attorneys who, combined, have more than 150 years of experience delivering quality legal advice. Our cutting edge is our ability to enter both the conference room and the courtroom with strength. Our law firm provides legal representation and counsel for both individual and business clients on issues related to estate planning and administration, real estate law, litigation, and business law.  Our practice areas include: Commercial Litigation, Business Law, Real Estate, Wills, Estate Planning, Trusts, Estate Administration, Living Wills, Health Care Proxies, Powers of Attorney, Not For Profits, and Employment Law.

111 Kraft Avenue

Bronxville, NY 10708

914-337-6300

http://www.nmdlaw.com/


Veneruso, Curto, Schwartz & Curto, LLP

Veneruso, Curto, Schwartz & Curto is dedicated to providing businesses and individuals with exceptional legal services customized to each client's needs and objectives.  Practice areas include litigation, real estate, not for profit, wills and estate planning, land use and zoning, business and corporate, cooperative and condominium and real estate tax assessment litigation.

The Hudson Valley Bank Building

35 East Grassy Sprain Road, Suite 400

Yonkers, New York 10710

914-779-1100

http://www.vcsclaw.com/


 

Peter W. Williamson, Esq.
141 Parkway Road
914-337-3434 (tel)
914-337-3392 (fax)
pwwilliamson@verizon.net

Real Estate - Insurance Agents

Leslie Homer
71 North Avenue New Rochelle, New York 10801
914-632-8989
www.homerinsurance.com
lhomer@homerinsurance.com


John L. Vorbach Company, Inc. Insurance Brokers
Manhattan Media & Technology Center
65 Broadway, 9th Floor
New York, New York 10006
212-294-4900 x 112
cvorbach@vorbach.com
www.vorbach.com


Linda Graef Jones, Private Client Sales Executive
Personal Risk Management Solutions
Focuses solely on personal insurance and
provides unique, customized solutions that save
money and time and create peace of mind.

6 East 43rd Street
New York, New York 10017
914-645-3951
JonesL@thePRMSpromise.com

www.theprmspromise.com


Palmer-Tanno Agency, Inc.
Independent Insurance Agents since 1948

Greg Tanno
141 Parkway Road, Suite #11
Bronxville, New York 10708
914-793-6603
palmertanno@aol.com


Ranieri Insurance Agency
Auto, Home, Business & Life
Over 50 Years' Experience

Paul D. Ranieri, CPCU
457 Palmer Road
Yonkers, NY
914-376-2560
dcranieri@aol.com


Rollins
Insurance and Risk Management Solutions
Since 1910
65 Main Street
Tuckahoe, New York 10707

914-337-1833
info@rollinsinsurance.com
www.rollinsinsurance.com

Home Improvement Directory

Decorators and Interior Design

Dunn & Tighe Interiors

25 Sycamore Street
Bronxville, NY 10708
914-337-4509
www.dunnandtigheinteriors.com


Edwin Gemes, Ltd.

Bronxville
914-779-7580
edwingemes@verizon.net


Madeline Eckett Oden Interiors

61 Beechmont Avenue
Bronxville, New York 10708
914-779-3935
eckettoden@aol.com


Jane Mitchell

9 The Byway
914-337-1216


Samuel Botero Associates, Inc.

215 East 58th Street
Suite 6B
New York, New York 10022
212-935-5155
www.botero.com


Sandra Steele Schneider Interiors

70 Burkewood Road
Mount Vernon, New York 10552
914-668-4468
sssinteriors@verizon.net


Serendipity Interior Design, LLC

Catherine Wyner
203-846-0809 or 203-637-9266


Shannon Interiors LTD.

Kelly Shannon Jelensperger, President
81 Pondfield Road #344
Bronxville, New York 10708
914-793-1629 (O)
914-953-7584 (C)
914-793-2195 (F)
shannoninteriors@aol.com


Design Professionals

Architects


Dean Davis

2 Park Place
Bronxville, New York
914-961-5953


Michael Davis

435 Hudson Street, 8th Floor
New York, New York 10014
212-645-6066
info@michaeldavisarchitects.com
www.michaeldavisarchitects.com


Charles Hilton

Hilton Vanderhorn Associates
31 East Elm Street
Greenwich, Ct. 06830
203-862-9011 (tel) 203-862-9196 (fax)
ch@hilton-vanderhorn.com
www.hilton-vanderhorn.com


Scott Koniecko Architects

80 8th Avenue
Suite 1600
New York, New York 10011
212-620-3924 (tel)
212-620-7640 (fax)
skoniecko@aol.com


Maggie Marrone Architects

914-771-6750
Mgmaia5@aol.com


Peter Pennoyer Architects

432 Park Avenue South, 11th Floor
New York, New York 10016
212-779-9765
peter@ppapc.com
www.ppapc.com


Radoslav Opacic Architects

24 N. Astor
Irvington, New York 10533
914-591-4306 (tel)914-591-4308 (fax)
info@opacicarchitects.com
www.opacicarchitects.com


Landscape Architects


Renee Byers, Landscape Architect P.C.

10 Avon Road
Bronxville, New York 10708
914-337-3103
rb@reneebyers.com
www.reneebyers.com


Engineers


Civil Engineer
Brett Auerhahn P.E.
914-961-2242


Home Maintenance & Improvement

Chimney Sweep


Egan Chimney Sweeps

845-628-8515


Electric


Keating Electric & Technologies

115 Wall Street
Valhalla, New York 10595
914-747-9294
www.keatingelectric.com


Lippolis Electric

445 5th Avenue
Pelham, New York 10803
914-738-3550


James A. Stone

96 Congress Street
Harrison, New York 10528
914-835-0447


White Electric, Inc.

128 Fulton Street
White Plains, New York
914-946-5566
www.whiteelectric.com


Fruit Delivery


Hutchinson Farm

833 Post Road
Scarsdale, New York 10583
914-723-7603


General Contractors

Vincent Franco
R-Men Contracting
179 Summerfield Street
Scarsdale, New York 10583
914-472-7007 (tel) 914-472-0451 (fax)
Vincent.franco@rmencontracting.com


Arthur Lange Inc.

841 Tuckahoe Road
P.O. Box 993
Bronxville, New York 10708
914-337-4422 (tel) 914-395-0471 (fax)
www.arthurlangeinc.com


Heating & Cooling


Absolute Comfort & Temperature Control Inc.

Mr. Paul Gomprecht, President
914-761-0529
Absolutecomfort1@aol.com
www.Absolutecomfortcontrol.com


Richards Conditioning Corp.

70 Marbledale Road
Tuckahoe, New York 10707
914-337-0300


Besson Oil Inc.

140 Marbledale Road
Tuckahoe, New York 10707
914-779-0008


Iron Work


Debra Coddington

Arrowsmith Forge
3788 Rte 44
Millbrook, New York
845-677-5687
www.arrowsmithforge.com


Locksmith


LMC Safe, Lock & Key

Luigi M. Cattzia II
914-241-1583


Milkman


Direct Dairy

POB 201
White Plains, New York 10603
914-328-7827


Painters


All Colors Painting Co.

69 Delaware Road
Yonkers, New York 10710
(Johnnie & Joey)
914-964-9148


Mateus Neto Painting Co.

95 Chase Avenue
Yonkers, New York 10703
914-965-9561


Pick up and take away


Robert Rabsey
914-954-4366


Technical Help


Computer, Network & Internet Services

Gerry McLoughlin
914-337-7084
www.GerryMcL.com
Computer Tutor @ PCI
914-337-1700
www.computertutorpci.com


Geeks on Wheels

Dylan Hall
Harrison, New York
914-562-1800
info@geekysolutions.net
www.geeks-on-wheels.net


The Computer Nerds, Inc.

PO Box 31
Bronxville, New York 10708
914-779-7952
info@thecomputernerdsinc.com
www.thecomputernerdsinc.com


TV & Steroes


AV Design

130 East Main Street
Elmsford, New York 10523
914-345-2977


Landscape Design & Maintenance

Design


Maureen Hackett

Hackett Landscape Design Inc.
212-768-4242 and 917-494-8084


Renee Byers, Landscape Architech P.C.

10 Avon Road
Bronxville, New York 10708
914-337-3103
rb@reneebyers.com
www.reneebyers.com


Maintenance


Frank Bulfamonte & Sons, Inc.

914-235-1835
26 Circuit Road
New Rochelle, New York 10805
914-235-1835


Land Productions Inc.

360 Adams Street
Bedford Hills, New York
914-666-8214


Lieb's Nursery & Garden Center

1 Askins Place
New Rochelle, New York 10801
914-632-5599


Florists


Tryforos and Pernice

73 Pondfield Road
Bronxville, New York
914-337-2525


Plants & Nurseries

Lieb's Nursery & Garden Center
1 Askins Place
New Rochelle, New York 10801
914-632-5599


Rosedale Nurseries

51 Saw Mill River Road, Route 9A
Hawthorne, New York 10532-1598
914-769-1300
info@rosedalenurseries.com
www.rosedalenurseries.com


Sprainbrook Nursery, Inc.

448 Underhill Road
Scarsdale, New York 10583
914-723-2382
www.sprainbrook.com


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