My Rye

Real Estate Update May 2008 - The Annual Rye House Tour

Single Family Homes (ending  4/30/08 ):

On the Market:  97

In Contract:  24

Shop Talk:

Forty eight homes have sold in the past six months in Rye City, compared to seventy five during the same six month time period last year. Interestingly, the same trend we spoke about last month continues: the average price of homes sold increased from $1,804,678 to $1,935,344 during this time period, even though the amount of homes sold decreased. Twelve or 25% were under $1,000,000 with an average price of $754,542 while 36 or 75% were over $1,000,000 with an average selling price of $2,328,944.

*Data per WPMLS  Zip 10580, RCSD & RNSD only. 6 month period 11/1/07-5/1/08 compared with same time period last year.

Mansion Tax Update - Get Involved!

We received an email form Assemblyman George Latimer in response to our March MyRye.com article on N.Y. State's infamous "Mansion Tax". He is sponsoring a bill to change the threshold from properties sold at $1,000,000 to properties selling above $2,000,000 in our region. He writes, "I will try to make the case that the average home sales in Rye, Larchmont, Rye Brook, and elsewhere are routinely above $1 million, and the $1 million threshold, established in 1989, does not reflect the increase in house prices over 20 years. If you agree...please let me know by return email [latimeg@assembly.state.ny.us]: I will need all the support I can to move this bill in Albany."

To view the bill, click here.

The Annual Rye House Tour

The Rye High School Parents Organization is hosting the annual Rye House Tour on Friday, May 16th, from 9:00 a.m.-3:00 p.m. In addition to viewing five spectacular local area homes, the "Garnet Cafe and Boutique" will be presented in a showcase home for lunch and shopping.

The Rye House Tour was a concept that my manager, Nancy Neuman, and Pat Singer, her partner at the time at Country Properties Realty (pre Coldwell Banker), started in the late 1970's as a way for their firm to give back to the community. According to Nancy, it was strictly a community service project to give back to the town in the form of a Rye High School scholarship fund. This continued for ten years until it was taken over by the RHS Parents Organization and opened up to the greater community. Today, as well as Coldwell Banker/ Country Properties, the sponsors include other real estate firms as well as local builders and designers.

This year, the House Tour is featuring an exotic custom built home on a cul de sac in Greenhaven with fantastic mix of artifacts from the Middle East and beyond. An 11,000 square foot Milton Point waterfront estate is a highlight with direct water views from all rooms and interiors designed by the renowned Bunny Williams. A six bedroom cedar and shingle Adirondack style Colonial home in the Midland School District is also the location for a special boutique and luncheon. Also featured are a stately turn of the century home from 1905, and a Colonial from 1800 which houses an amazing collection of furniture, art, books, and collectibles.

Past homes from last year's tour included a 7,600 square foot 1928 Colonial with views from three golf courses, and a renovated Milton Point Colonial with water views and a beautifully landscaped garden.

Tickets are available at most local real estate agencies in town for $45.00 for the tour only, $65.00 for the tour and lunch. For more information, you may contact House Tour Chairs: Alicia Baldwin 967-9096, Lotte Meister 921-6110 or Sheryl Stroud 924-7455.

May Market Update and Article written by Judy Croughan, Licensed Realtor, Coldwell Banker Rye.

Real Estate Update April 2008

Single Family Homes (week ending 3/30/08):

On the Market: 77

In Contract:  21

Shop Talk:

Forty-four homes have sold in the past six months in Rye City, compared to sixty four during the same time period last year. Interestingly, the average price of the homes sold increased from $1,895,427 to $1,974,602, even though the amount of homes sold decreased. This is certainly better than what is happening price wise nationally, according to a recent New York Times article. Thirteen or 29.5 % of the past six month's sales were under $1,000,000 with an average sales price of $805,423, while 31 or 79.5% were over $1,000,000 with an average price of $2,464,903. We ran numbers for the past three months in Rye to see if this held true in the short term as well. Still, 26 homes have sold since the beginning of the year for an average price of $2,080,019, compared to 37 homes selling for an average of $2,032,779 in the first three months of 2007. It seems the price increase has narrowed, but this is a small sample and the spring market hasn't really kicked in yet. The pace seems to be picking up, and more houses that have been on awhile are going into contract. Time will tell about the continued health of Rye's real estate market.

*Information per WPMLS zip 10580, RCSD & RNSD only as of 3/30/08. 6 month period 9/30/07-3/30/08 compared with same dates 2007.

Playgrounds and Parades: Free (or nearly free) Activities for Kids

(PHOTO: The 51st annual Rye Little League Parade is on Saturday, April 12th) A lot of Manhattan parents make the trek north to Rye looking for green space and good schools. Prompted in part by a comment by "Concerned Rye Parent", I was thinking it would be helpful for parents of young children considering the area to get an idea of what Rye offers in terms of outdoor recreation.

Rye City encompasses two school districts: Rye City School District and Rye Neck Union Free School District. Each of the three elementary schools in RCSD - Milton, Midland, and Osborn - as well as Daniel Warren and F.E. Bellows in RNSD, have playgrounds on the premises, as well as most of the preschools in the area. There are two large play areas at Rye Recreation, 281 Midland Avenue: slides and green dinosaurs decorate the playground to the left of the administrative building, and a state of the art playground with a blacktop/hitting wall area to bike, rollerblade or hit tennis balls is located in the back.  "Rye Rec" also has fields for soccer and baseball, as well as outdoor picnic shelters available for rental. 967-2535.

When my three boys were younger, just feeding the ducks was a highlight. We used to stroll down to the end of Bradford Avenue (off Florence Avenue in the Bradford Park section of Rye) to the foot bridge to see ducks and turtles, or you can visit the recently renovated duck pond at Rye Town Park. After feeding the ducks, you can bring a sand shovel over to Oakland Beach, or take the kids out for a burger and fries at Seaside Johnnies. If the sand is too much, head over to Rye Golf Club and Pool in the summer months.

You may have missed the Rye Neck PTSA Spring Fair on a recent Saturday, but there are plenty of other free (or inexpensive) outdoor parades, fairs and activities for little ones. A sample of upcoming events:

• Annual Rye Little League Parade April 12
• Wainwright House Family Hike & Learn April 13th
• Milton School Fair May 3
• Rye YMCA Rye Derby & Family Fun Run May 4
• Spring picnic on the Village Green-Storytelling, music, & costumed characters May 18
• Rye Neck PTSA Bike Rodeo May 17
• Rye Nature Center has a host of seasonal celebrations: Earth Day Celebration in April, Strawberry Sunday in May and Fall Festival in November.
• Free biweekly fireworks at Playland Park every Wednesday and Friday night during the summer
• Annual Wheels Go 'Round Vehicle Fair October 5
• Osborn School Carnival October TBA
• Rye Rec's Turkey Trot and "Paws" Dog Walk- November
• Rye Merchant's Association Street Carnival- Sunday of Thanksgiving weekend- November
• Resurrection Christmas Fair- Early December

Of course, there are plenty of indoor activities for kids as well. We will cover that in a future article.

    

April Market Update and Article written by Judy Croughan, Licensed Salesperson, Coldwell Banker Rye.

Real Estate Update March 2008

Single Family Homes (week ending 3/1/08):

On the Market: 68

In Contract: 18

Shop Talk:

Fifty homes sold in the past six months as opposed to seventy nine during the same time period last year. Thirteen or 26% of those home sales were under $1,000,000 with an average sales price of $814,514, while thirty seven or 74% home sold for over $1,000,000 for an average sales price of $2,396,851.

(GRAPH: Click on graph for larger image) While actual homes sales in Rye may have slowed somewhat compared to last year during this time, prices have more than held their own. In the past six months, the average home prices, both under and over $1,000,000, have held steady, and on higher end, increased slightly. It seems that inventory is relatively low, and the market is picking up with prospective buyers.

* Data per WPMLS 9/1/07-3/1/08 RCSD & RNSD only.pr

The (3 Bedroom, 1 Bath) Mansion Tax

Since I have been working on MyRye.com, we've been tracking some trends in our local real estate market, and one thing that struck me initially was how many sales in our area are consistently over one million dollars. In the past six months, an average of 74.1% of the homes sold in Rye City for over $1,000,000. Granted, there are co-ops and condos well under that range, as well as several homes purchased by singles, young families, and empty nesters, etc. for just over the $1,000,000 mark. But, as most of us already know, in New York State, that $1,000,000+ purchase price entitles you to a "mansion" in the state government's eyes and subjects you to the dreaded "mansion tax". Somewhat shocking - I could give you several examples of three bedroom ranches and split levels that have sold to builders for over $1,000,000 in recent years as "knockdowns" for larger homes. I guess these homes are mansions as well. Mini-mansions to build mega-mansions!

(PHOTO: 1% Please) The New York State mansion tax is a transfer tax that was enacted by then Governor Mario Cuomo in 1989 when the average home price in the state was well under $1,000,000. It existed as a sort of a luxury surcharge for the wealthy, as most homes in New york were priced well under that range at the time. The tax consists of 1% of the purchase price of a one, two and three family home (the tax does not affect the purchase of vacant land or commercial property).

I recently spoke with Assemblyman George Latimer on the subject. He has been working on a bill to revise the threshold to $2,000,000, which would be more in line with the selling prices in our area, and the bill was submitted last week. According to George, he could have justified a higher number based on our home sales, but it is difficult to persuade upstate and outer borough New Yorkers, who don't necessarily relate to our "normal" real estate prices. "There is a loss in state revenue from this bill (we're taxing less houses with the bill, which is the purpose of it), but the higher the threshold, the more revenue we lose, the harder it would be for me to get it passed, particularly in a bad fiscal year," according to Latimer. The bill is being sponsored by Senator Vincent Leibell III (Republican - Putnam County).

New Yorkers are not the only ones paying up any longer. New Jersey passed their own version of the Mansion tax on August 1, 2004, requiring home buyers to ante up the same 1% of the $1,000,000+ purchase price. Connecticut has a somewhat similar way to  collect money from residential home sales. The state levies a conveyance tax on the seller at the time of transfer of title. The Connecticut state tax is one half of 1% for the first $800,000; anything that exceeds that is taxed at 1%.

So, we love living here for all the obvious reasons we have spoken about in previous articles. What can we do about the mansion tax? Call or email you legislators above. In my research, I discovered a Revise the Mansion Tax Code petition online (which I promptly signed!). In the meantime, I am going to enjoy living in my 2800 square foot builder's colonial...mansion!

March Market Update and Article written by Judy Croughan, Licensed Realtor, Coldwell Banker Rye.

Real Estate Update February 2008

Single Family Homes (week ending 2/1/08):

On the Market:  62

In Contract:  14

Shop Talk:

Sixty-two single family homes have sold in Rye City in the past six months, compared to eighty-two during the same time period last year. Twenty or 32.25% of the recent sales have a sales price of $1,000,000 or less for a median price of $818,300.  Forty two or 67.74% of the homes have a sales price higher than $1,000,000 for a median price of $1,842,500.

INFORMATION PER WPMLS RCSD & RNSD ONLY 8/1/07-2/1/08.

Nursery School Crunch

Most of my clients coming up from the city have at least one child, and often, one on the way. Once the contract is signed, one of the first questions I am asked is, "Is it too late to sign up for preschool?"

(PHOTO: Rye Presbyterian Nursery School) Although not as competitive or pricey as Manhattan's private schools, it can be a scramble to get into preschool in Rye. No longer simply finger painting and a snack, the area's top early childhood programs focus on the development of the child in a supportive, nurturing atmosphere. Rye City's four prekindergarten programs are each affiliated with a religious institution. Your family does not need to belong to the congregation in order to secure a spot, although in most cases members will be given priority and/or a discount on tuition. All schools have recently passed their sign-up for the next school year, except Rye United Methodist, which has ongoing registration. However, spots can often be filled from the waiting list before September.

Resurrection Grammar School is a Roman Catholic parish school for grades prekindergarten through 8.  In addition to the twice weekly 2 year old programs, Resurrection offers pre-k 3 and 4 year old Montessori programs. Using this teaching model, 6-8 three year olds, and 6-8 four year olds share the classroom with approximately 10 kindergartners (the preschoolers alternate morning and afternoon sessions and the kindergartners attend a full day). The basis of Montessori practice is respected individual choice in work and play, as opposed to group lessons led by an adult. Resurrection is located at 116 Milton Road in Rye. www.resurrectionschool.com.

Rye Community Synagogue's Early Childhood Center offers programs for children ages 2-5.  The two year olds have a 3 and 5 day option; three and four year olds have a morning session from 9 a.m. to 11:45 a.m. with an option to participate in an afternoon program. The ECC focuses on a nurturing environment where the children learn through play. It's developmentally appropriate curriculum is designed to "stimulate a child's mind, encourage the development of a positive self image, and to foster good social skills", according to its website. Community Synagogue is located at 200 Forest Avenue in Rye. www.comsynrye.org.

Rye Presbyterian Nursery School is a "Reggio" inspired and NAEYC accredited nursery school for ages two through five. Learning through play is also the cornerstone of the program at Presbyterian. The children participate in free play, circle time, and often learn through interaction with classroom pets. Rye Presbyterian also offers a "play-school" program for younger children in addition to the more structured "twos". Rye Presbyterian is located at 882 Boston Post Road in Rye. www.rpnskids.org.

Rye United Methodist Nursery School. Rye Methodist's NAEYC accredited program is characterized by its open classroom environment where children learn through "literature, art, movement, block building, science and math", according to its website. An important aspect of this program is the "Helping Parent" component. Once per month, each family is assigned a day to help with their child's group. Unlike the others, Rye Methodist has an ongoing registration until all spots are filled. There are still some afternoon spots available, according to Director Lucia Vassallo. United Methodist is located at 964 Boston Post Road in Rye. www.rumns.org.

Nursery School Cheat Sheet

Resurrection
Wait List? Yes
Tuition Fees? On site
Religious Affiliation? Catholic
Priority to members?  Yes
Phone number? 914-967-1218

Community Synagogue         
Wait List? Yes
Tuition Fees? Call
Religious Affiliation? Jewish
Priority to members?  Yes
Phone number? 914-967-6262

Rye Presbyterian      
Wait List? Yes
Tuition Fees? On site
Religious Affiliation? Presbyterian
Priority to members?  Yes
Phone number? 914-967-2073

Methodist
Wait List? No
Tuition Fees? On site
Religious Affiliation? Methodist
Priority to members?  Yes
Phone number? 914-921-1939

Feel free to post comments or suggestions for future articles.                            

February Market Update and Article written by Judy Croughan, Licensed Realtor, Coldwell Banker Rye.                                    

Real Estate Update January 2008

Single Family Homes (week ending 1/6/08)

-On the Market 54

-In Contract  13

Shop Talk

Seventy five homes have sold in Rye City in the past six months, compared to eighty eight during the same time period last year. Seventeen or 22.66% were under $1,000,000 with an average price of $815,829.00.  Fifty eight or 77.33% of the homes were in the $1,000,000+ category, with an average selling price of $2,192,026.00.

* Data per WPMLS 7/6/07-1/6/08 RCSD & RNSD only.

Is There a Singles Scene in Rye?

Everyone knows Rye is a great community for families, but what about singles?  Partly in response to the December 9th comment on the site by Adam to my November article, I decided to do some research.  In general, it seems that professional people are marrying later, and as a result, there is an increasing number of affluent singles, many of whom are working in White Plains or Stamford, Connecticut. These singles, as well as divorced parents with children settled in the Rye School System who want to stay local, are stepping up form renting and looking to buy single family homes, co-ops or condos in the area.

(PHOTO: The community table at Ruby's Oyster Bar fills up on most nights) The upscale bars and restaurants on Purchase Street are a draw, according to my single sources.  Ruby's Oyster Bar and Frankie and Johnnie's Steakhouse are well known for having a happening bar scene, but a lot of the local singles told me that they also like the smaller bar areas at Aurora and Water Moon. Seaside Johnnies in the summer is a casual and fun meeting spot.  And if you are willing to drive ten minutes down the road, nearly every single I spoke with mentioned Chat 19 and Globe in Larchmont as some of the best known gathering spots for singles over 30.

Having been involved with several athletic events in the community, both as a participant and volunteer, there are several opportunities to connect without dealing with the bar scene. Our very own Jarden Westchester Triathlon, sponsored by Rye-based Jarden Corporation (NYSE: JAH), is held at Rye Town Park every September, and is a great event to participate in as an athlete or volunteer.  The Sound Shore Runners and Multisport Club is a group of nearly 300 people from New Rochelle to Greenwich, and organizes group rides, trail runs, and social activities such as monthly brunches and barbecues.  The Sound Shore Cyclists and Westchester Cycle Club coordinate biking events.  Rye based Altheus organizes Sunday group rides as well. I even know of a few couples who met on the links at Rye Golf Club shortly after becoming residents!

The Rye YMCA is hosting a single parent gym event on Friday night, January 18th from 5:30 to 8 p.m. for swimming, gym time and dinner with other single parents and their children (call the Rye Y at 967-6363 for more information).

If all else fails, go shopping!  I sold a co-op on Theodore Fremd Avenue this fall to a single friend of mine who came up from New York City.  She recently told me that she loves living in this area because of the convenient shopping and entertainment.  Last week she discovered the AMC Loews Port Chester Movie Theaters and shops and Kohl's Shopping Center, and couldn't believe how quick it is to get from Rye to White Plains for even more shopping!

Please feel free to post comments and /or ideas for future articles.

January Market Update and Article written by Judy Croughan, Licensed Realtor, Coldwell Banker, Rye.

Real Estate Update December 2007

Single Family Home Sales in Rye (week ending 12/09/07).

• On the Market: 60
• In Contract: 12

Shop Talk

Ninety homes have sold in Rye over the past six months, as opposed to ninety five during the same time period last year.  Nineteen or 21% were under $1,000,000 for an average selling price of $824,216. Seventy one or approximately 79% were $1,000,000 or over, for an average selling price of $2,152,127.

*Information per WPMLS 6/8/07-12/09/07 RCSD & RNSD only.

Ex-Pats in Rye

International families choose Rye for the good schools, local amenities and the active "ex-pat" population here. I have been working with a few international couples recently and thinking about what resources they may be looking for to adjust to life here in Rye.

A great resource for international families is the expatriate group affiliated with Rye Newcomers Club and their monthly newsletter, EXPat Connection, written by Rye resident Jo Bryan.  This month, for example, there is information on monthly coffee hour meetings, programs at the Rye YMCA and Rye Recreation, where to find a local farm to cut down a Christmas tree and holiday recipes. Jo also puts out a pamphlet full of valuable local information for EXPat members. Membership has grown substantially in the past year to over 70 families. For more information, contact Jo at jo@bryanres.com.

Japanese families acclimate to the area using a slightly different approach, according to my friend and Rye resident Motoko Okubo. Generally, the Japanese corporation that employs the newcomer will connect the new family with a local contact, who will provide information for the area. The advice may include where to find Japanese groceries, information on obtaining a driver's license and where to take English language lessons.

There are organizations in Rye tailored specifically for the Japanese Community including an active Japanese PTA at the Osborn Elementary School. My children love when the Japanese moms come into the classroom to present on Japanese culture and contribute delicious food for the Osborn Carnival. The Japanese owned real estate companies in the area also play a part in helping transferees and their families adjust to life in Rye, handling real estate transactions and property management duties.

I recently worked with an executive transferring from Mexico City whose family received assistance from Full Circle International Relocations. Some large U.S. companies in the area including Pepsico, IBM and Mattel contract Full Circle to provide pre-departure, home finding, and "settling in" services to their executives and their families.  The local Full Circle representative arranges school visits and information on public and private schools, is in contact with the real estate agent to help the family select the home and area, and perhaps most importantly, provides assistance with the necessities of American life - obtaining a social security card, opening a U.S. checking account, the purchase or rental of furniture and assistance with setting up gas, electricity and water accounts.

Although all the people I spoke with reiterated the primary reason they chose Rye was the quality of our school system, there are many local options for ex-pats who prefer an international school setting, including:

• Keio Academy of New York in Purchase
• German American School of New York in White Plains
• French American School of New York in Larchmont
• The Greenwich Japanese School in Greenwich, CT
• The International School at Dundee (offers a Baccalaureate program within Greenwich Public Schools)   

December Market update and article written by Judy Croughan, Licensed Realtor, Coldwell Banker Rye.

Real Estate Update November 2007

Single Family Homes in Rye (week ending 11/5/07):

-On the market: 59

- In contract:  9

Shop Talk

One hundred single family homes have sold in Rye in the past six months, compared to 99 during the same time period last year. 26% of the sales were under $1,000,000 for an average sales price of $843,281.  In the $1,000,000+ category, there have been 74 sales, with an average price of $2,222,973.

*Data per WPMLS 5/5/07-11/05/07 RCSD & RNSD only.

On the Market: The Value of the Rye Golf Club

I was walking with my dog alongside the path of the Rye Golf Club course the other day, now that the weather has gotten colder and the golfers less frequent. I have a soft spot in my heart for for Rye Golf.  Although I am not much of a golfer myself, my parents met playing golf and it was always a part of my family life growing up. I held my wedding reception at RGC's Whitby Castle long before I lived in the neighborhood, and as a real estate agent, I truly appreciate what an advantage it is to have this club as an asset to Rye residents. The club's full golf course and pool facilities play a significant part in supporting our property values.

The privately owned Rye Woods Golf Club was purchased by the City of Rye in 1965, primarily for residents, yet does not receive any financial support from the city.  It is operated as a municipally owned member only club supported by user fees.

Rye City residents all have the opportunity to join while non-residents may participate in a lottery for remaining spots. The Rye Golf Club offers a variety of memberships:

• Individual Daily Golf (golf for one person) 2007 Rates: resident $2,890; non-resident $5,725
• Family Pool (pool for entire family) 2007 Rates: resident $1,363; non-resident $2,704
• Comprehensive (golf and pool for entire family) 2007 Rates: resident $4,247; non-resident $8,410

There are other membership categories for weekday golf, juniors and a new category for seniors. The restaurant at Whitby Castle is open to the public.

Whitby Castle was built in 1853 as a private residence and designed by the prominent architect Alexander Jackson Davis, who designed Lyndhurst Mansion in Tarrytown.

Although other communities along the Sound Shore offer public beach access or a town pool facility, Rye is unique to have a 127 acre golf course as well. Lake Isle in Eastchester - not on the water- is one of the few communities with a similar setup.

The golf course also makes for a great area for sledding and cross country skiing in winter!

As I mentioned in last month's post (A Great View for Less), having the Rye Golf Club as a backdrop for many of our local streets lends an aura of peace and serenity to the neighborhood and serves as a haven for natural wildlife. I currently have a house listed at 9 Eldredge Court that backs up to the course, and during a public open house on a recent Sunday, I stood transfixed for a moment looking out the kitchen window at the array of fall colors and genteel golfers on the 3rd hole. I know RGC played into my decision to choose Rye over surrounding communities when I moved here from Port Chester in 1994, and continues to be a factor for my clients to consider when choosing Rye.

Written by Judy Croughan, Licensed Real Estate Salesperson, Coldwell Banker/ Country Properties.

Rye Real Estate Update October 2007

Single Family Homes in Rye (week ending 10/05/07):

-On the market: 73

-In contract: 11

Shop Talk

One hundred eleven single family homes have sold in Rye in the past six months, compared to one hundred twenty four during the same time period last year. Thirty or 27% of the sales were under $1,000,000 with an average price of $812,943.  In the $1,000,000+ category, there have been 81 sales, or approximately 73% of the total, with an average price of $2,156,340.

*Data per WPMLS 4/05/07 - 10/05/07. 10580 zip, RCSD & RNSD only

On the Market: A Great View for Less

Everyone knows we can get a sweeping view of the Sound from Milton Point for several million dollars, but there are other places, even in a compact town like Rye, where you can find a private view for under $1,000,000 (the median sales price in Rye City year to date is $1,512,500).

(PHOTO: A view of the Rye Golf Club from the author's deck)

One of the best bargain streets in Rye is Soundview Avenue.  A long narrow street off the Boston Post Road which cuts through Rye Golf Course, Soundview has an interesting mix of older modest homes and large newly renovated ones, most with sweeping views of the course. I have sold two homes under $800,000 on this street in the past couple of years, and I'm not aware of many places you can find a view like that in this price range in Rye.  You have to be tolerant of the occasional golf ball in your backyard, though :).

For a little more money (remember the median home price), you can find golf course views on many streets in the Hix Park neighborhood of Oakland Beach Avenue.  Although my home is not adjacent to the golf course, many of my neighbors on Eldredge are on the course (I can watch the golfers from my deck, however). You can receive backyard privacy from the woods of Rye Nature Center on parts of Hammond Road or Central Avenue.

And don't automatically assume you can't sneak a peek at the water without spending super big bucks: from the front steps of a 900 square foot beach cottage on Rye Beach Avenue and surrounding streets, you can gaze out to Rye Town Park and catch some views of the Long Island Sound. Look out over Milton Harbor and beyond from the co-ops at Milton Harbor House (recent sales in the $800,000s, see August article, Apartments in Rye), and you can catch a glimpse of tranquil Mead Pond from the apartments and townhouses on Pondview Road or single family homes on Sharon Lane or Marlene Court.

And if you miss out on the water and green space, you can move to the series of streets off Forest Avenue close to Playland Amusement Park and marvel at the fireworks and a view of the ferris wheel!

*median single family home price1/1/07-10/05/07 10580 RCSD & RNSD only.

Written by Judy Croughan, Licensed Real estate Agent, Coldwell Banker/ Country Properties.

Rye Real Estate Update August 2007

Single Family Homes in Rye (week ending August 3, 2007):

- on the market: 69

- in contract: 37

Shop Talk

One hundred ten single family homes have been sold in Rye City in the past six months, compared to seventy eight in this time period last year. 34 or 33% of the sales were under $1,000,000 with an average closing price of $786,773.  In the $1,000,000+ category, there have been 69 homes sold, 67% of the total, with an average selling price of $2,152,833.

(*zip 10580, Rye City or Rye Neck Schools only. Information per WPMLS 2/3/07-8/02/07).

On the Market: A Look at Apartments in Rye

There are a variety of rental apartments, condominium units, and cooperative apartments in Rye for those of us who do not need or want a single family home.

The Highland Hall Apartments at the intersection of Purchase and Highland have always been a popular and relatively affordable choice for rentals in Rye with its desirable location next to the train station and town. Other popular rental buildings in the same vicinity are the Rye Park Apartments and Rye Village Apartments.

Condo and co-op choices include gated communities such as Milton Harbor House with dock & mooring facilities or Waters Edge (both have pool and waterfront access). Picturesque garden apartments close to town such as Rye Colony or the Gardens at Rye are also popular.

Some options in Rye include:

Rental apartments:

• Highland Hall Apartments
  • 147 Purchase Street
  • 967-1500
• Rye Park Apartments
  • 125 Central Avenue
  • 967-4781
• Rye Village Apartments
  • 160 Theodore Fremd Avenue
  • 967-1091

Cooperative apartments:

• Milton Harbor House
  • 720 Milton Road
  • Managing Agent: Garthchester
  • Typically prices range from the mid $600,000s to over $1,000,000.
• Gardens at Rye
  • 130 Theodore Fremd Avenue
  • Managing Agent: Platzner Management
  • Prices have been in the $300,000s for 2 bedroom units.
• Rye Colony Apartments
  • 1 Peck Avenue
  • Managing Agent: Barhite & Holzinger
  • Prices have been in the 200,000s to high $300,000 for 2 bedroom units

Condominiums:

• Waters Edge
  • 1 Waters Edge
  • Managing Agent: Garthchester
  • Prices currently range from high $800,000s to nearly $4,000,000 for these 3-4 bedroom units.
• Country Gardens
  • 30 Pondview Avenue
  • Managing Agent: Platzner
  • Prices have ranged from high $300,000s to mid $400,000s for 2 bedroom units.

(Information supplied by Judy Croughan, Coldwell Banker Country Properties.  Data courtesy of WPMLS.)

Rye Real Estate Update July 2007

Single Family Homes in Rye (week ending July 13, 2007):
• on the market: 83
• in contract: 44

Shop Talk
Ninety one homes have sold in Rye City in the last 6 months, compared to seventy homes in the same period last year. 32 or 35% of those closings were for under $1,000,000.00 with an average closing price of around $780,584. In the $1,000,000+ category, 59 or nearly 65% of homes closed ranging from approximately $1,000,001 to $10,000,000+, for an average sales price of $2,338,726.
(*zip 10580 Rye City School District or Rye Neck Schools only)

On the Market

Location: 702 Forest Avenue

The List Price: $4,895,000

Square Feet: 6,650

Beds/Baths: 6 bedrooms, 7.1 bathrooms

Acreage: .92 acres

The story:
This is an elegant brand new construction luxury home built by Leo Tomcyzk (of Realogy) on Milton Point with fabulous details. A gracious entry portico opens to an expansive hallway with arched doorways and coffered ceiling. This attractive stone colonial features a wood paneled library with detailed moldings, a spacious gourmet kitchen with butler’s pantry that opens to a family room and French doors that open to a flagstone patio overlooking the property.

The master bedroom suite has a sitting room area, bath and elaborate closets. The home has four masonry fireplaces and an additional five bedrooms. Milton Elementary School, Rye Town Park and Oakland Beach are all within walking distance.

The listing agent:
Sula Pearlman
Coldwell Banker/ Country Properties
sulapearlman.com
914-967-0059
sula.pearlman@cbmoves.com

Information provided by Judy Croughan of Coldwell Banker/ Country Properties.
Statistics per WPMLS 1/13/07-7/13/07