Ruthmarie Hicks

Located in the heart of downtown at 20 North Broadway in White Plains NY – the Broadlawn is one of the most desirable cooperatives in White Plains. The central location of the Broadlawn helps make it special. It lies within a block of the White Plains City Center, and Trump Tower. you can easily leave the car behind and walk to shopping, fine dining, entertainment and the train. Rated a walker’s paradise by WalkScore.com - the area ranks a 97 out of 100 with respect to walkability. The commute to Manhattan is 33 minutes on the Harlem Line. With the likes of New York transplants such as BLT Steakhouse and Level 42at the Ritz Carlton just a short stroll away, the lifestyle at the Broadlawn has a distinctly urban upscale feel. The White Plains Performing Arts Center is also just a short walk away. As for shopping the Westchester mall as well as the City Center mall along with major supermarkets including Whole Foods are all a comfortable walk away. In spite of being in near the center of the downtown, the area across from Tibbets Park creates an oasis of peace and quiet. It’s a world apart from the hubub despite its very central location.

The Broadlawn Complex:

The complex consists of garden style units surrounded by formal gardens that including Pergola and barbecue area. Built in 1928, the Broadlawn is know for its Old-World charm and architectural details. Most of the units at the Broadlawn have two bedrooms. Many include such wonderful amenities as fireplaces and balconies overlooking the formal gardens. Ground floor units often have private patios. Many units are duplexes. The ground floor units tend to be simplexes with patios while the upper floor units are generally duplexes. The Broadlawn was able to forgo raising its maintenance fees last year – which speaks well to its financial stability. The interior hallways have just been given a facelift and they are also in the process of creating a fitness room on the premises. All of these are positive steps for the owners and are signs of a thriving community.

The Broadlawn – White Plains – Sales History:

The current sales prices reflect the market correction which has been difficult for all sectors of the housing market. However, the Broadlawn has held up very well in spite of downward pressure on the coop market. Median sales prices are down 17% from their highs in 2006 of $348,000 for a 2 BR unit to a median price of $290,000 in 2011. 1 BR units are less common in the complex and more difficult to evaluate. Units on the first two levels are generally simplexes while units on the 3rd level are duplexes. Pricing varies with respect to condition, the presence or absence of a fireplace, balcony or patio. Some units are “fixers” but the fact that they have been selling fairly well in spite of this market speaks well to the stability of the complex.

The charts below show the pricing history and the sales volume history. As prices dropped in 2011, sales volume increased sharply. This is a good sign that the “sweet spot” for pricing has been reached. Although sellers need to be realistic, the increase in volume indicates that buyers should not be greedy. Inventory as of the end of 2011 has less than six months of inventory – making this a balanced market.

Market Update – The Broadlawn of Downtown White Plains NY

© 2011 – Ruthmarie G. Hicks – http://thewestchesterview.com – All rights reserved.

The cooperatives on Garth Road in the Scarsdale PO are a very popular destination for first time home buyers and those who are scaling back from a home. Among Westchester coops, the Garth Road location is one of the best known and most sought after. This is not without good reason. The location is fairly close to perfect for commuters and those who prefer to leave the car behind and walk to town.

Although Garth road bears the ever popular Scarsdale PO, the coops on Garth Road are located in the municipality of Eastchester. But for all practical purposes, the location is is just like living in the Village of Scarsdale. Just 30 minutes from Grand Central Station – the location is ideal for commuters. For most residents, the train is less than a 10 minute stroll away. The village of Scarsdale is equally convenient. Leaving the car behind is easy in such a prime location – easier in fact than for many people who actually reside in the town of Scarsdale.

Like most cooperatives, the bulk of these complexes -particularly those close to the train and town are prewar buildings with a great deal of character.

The complexes of Garth Road Scarsdale:

• The Northgate – 105 Garth Road
• Eton Lodge - 117 Garth Road
• Eton Hall – 127 Garth Road
• The Kenilworth – 142 Garth Road
• Colchester Hall – 143 Garth Road
• The Craigswald – 187 Garth Road
• Scarsdale Manor – 174-198 Garth Road
• The Thornycroft – 209 Garth Road
• Garth Essex – 230 -260 Garth Road
• Garth Woods – 235 Garth Road
• The Buckingham – 253 Garth Road
• Garth Manor – 281 Garth Road

General Sales History and Pricing on Garth Road:

Cooperative complexes across the county have undergone a major market correction over the past few years.

The charts below show an overall decline of of roughly 20% for both 1 BR and 2 BR units over the past six years. Median prices for 1 BR units have fallen from $214,000 to $171,000 since 2006. For 2 BR units the price drop has been from a median sales price of $344,000 in 2006 to $273,000 in 2011. Although sales volume is well off from the peak of the market, it is healthier than some other areas and the decline has leveled off – and at these prices, it is likely that demand will increase significantly in 2012. Certainly it is far cheaper to purchase a cooperative than it is to rent anything comparable. So this will drive buyers into the market in the near future.

Right now, buyers should consider these complexes to be “on sale” and be ready to take advantage of what this market has to offer. Waiting for the 35-40% off sale that may never happen, may prevent you from taking advantage of the 20% off sale. Sellers need to be realistic. It is no longer 2005-2006 and it could be a long time before we see those prices again.

© 2011 – Ruthmarie G. Hicks – http://thewestchesterview.com – All rights reserved.

Garth Road Scarsdale NY – Market Report

Yes, I know its Christmas day – but New Year’s Eve is just a week away…and its not too soon to think about where you will be when 2011 becomes a memory and 2012 is born.

For those who don’t know the history – downtown White Plains used to be a fairly quiet place. During the housing boom the downtown became built up an is now thought of as a mini-me Manhattan. Following the opening of Trump Tower and the Ritz Carlton – a new tradition was born. White Plains initiated a new tradition of celebrating New Years Eve in the heart of the downtown – including its own ball drop. The festivities include live music from 10:30 PM to 12:30 AM. It is a fun-filled event for the entire family. Last year I was downtown at around 11 PM and was watching as all the downtown residents started walking en masse towards the music. Parents with children in tow, and extended families all getting together as a large community. Its a terrific way to meet your neighbors and just have a great time with the whole family. At the stroke of midnight the ball drops and it is topped off by a fireworks display that literally lights of the entire sky.

For those who want to make an entire evening of it and eat out – here are some suggestions….

BLT Steakhouse White Plains - in the heart of the downtown in the Ritz Carlton – $125 pp. First seating 5:30 – 7 PM, Second seating after 9 PM.

Morton’s Steak House – Downtown White Plains – Maple Ave.

Black Bear Saloon & Wicked Wolff Tavern – Downtown White Plains – Mamaroneck Ave. are hosting a New Years Eve Bash. The doors open at 9 PM. Tickets are $50 pp and include an open bar.

© 2011 - Ruthmarie G. Hicks - http://thewestchesterview.com - All rights reserved.

Westchester Events – New Years Eve Family Spectacular – Downtown White Plains NY

Happy Holidays Everyone!

Westchester NY has never been shy about strutting its stuff during the Holiday Season. Finding displays is not hard. Getting them to photograph well is more of a challenge. Particularly when it involves Christmas light displays. Every December, for the last few years, I have gotten out with my camera and have tried to take as many photos as I could. So, for all my friends here on Active Rain - here are some of my favorites….Have a Merry Christmas and Happy, healthy and prosperous New Year!

© 2011 – Ruthmarie G. Hicks – http://thewestchesterview.com – All rights reserved.

Union Church of Pocantico Hills has a rich history. Part of the Historic Hudson Valley – the church has is closely associated with the Rockefeller family. It is also very famous for its stained glass windows by Matisse and Chagall. From the outside, the church is a chapel-sized field stone structure. Something of a classic Tudor. But the interior windows are simply breathtaking. The rose window by Matisse, was his last work of art. The Chagall windows came later. All were commissioned by the Rockefellers as memorials to family members.

The Christmas Eve services are a way for families to come together and get away from the Christmas materialism. Its a wonderful time to reflect about what Christmas really is all about. Something that quite honestly seems to get lost in the process of our mall -crazed month of shopping. The services themselves are marvelous with a mix of music, scriptures and carols and a short sermon. The church is non-denominational and welcomes one and all. There are three Christmas Eve services, at 3:30, 7:30 and 11 PM. The latter two services are candlelight services.

Before I sold real estate – I actually sang in that church choir. Unfortunately working on the weekends and attending a church nearly 30 minutes from my home an office does not mix well, but I have a tremendous affinity and affection for this church and try to get there whenever I can – which sadly is not often!

• The Event – Christmas Eve Services at Union Church
• The Place - Union Church of Pocantico Hills 555 Bedford Rd., Tarrytown NY
• The Time - Dec. 24 at 3:30 7:30, and 11 PM

© 2011 – Ruthmarie G. Hicks – http://thewestchesterview.com – All rights reserved.

Westchester Events – Holiday Edition – Christmas Eve Services at Union Church – Pocantico Hills