Year-End Real Estate Report for Bronxville by Cindy Landis of Houlihan Lawrence Real Estate
By Cindy G. Landis, Brokerage Manager, Bronxville Office of Houlihan Lawrence
Jan. 10, 2018: Happy New Year to each of you! It has been bitter cold outside, a great time to stay warm inside while our market here thaws.
The news on everyone’s minds is the new tax code; it places our local and regional real estate markets at crosshairs. On a positive note, experts have posited that changes in the tax brackets may offset some of the consequences of the SALT (state and local taxes) deduction losses. In some communities where many are already subject to the AMT (Alternative Minimum Tax), the impact of the new legislation may be less consequential.
The president of the National Association of Realtors, Elizabeth Mendenhall, issued this statement: "The new tax regime fundamentally alters the benefits of homeownership by nullifying incentives for individuals and families but leaves in place the exclusion for capital gains on the sale of a home and protects the mortgage interest deduction for second homes." Also of note, only mortgage interest on loans up to $750,000 may be deducted rather than the prior $1,000,000.
This is clearly a complicated analysis for local residents and potential purchasers as well. Houlihan Lawrence has hired consultants to assess the impact based on differing scenarios. Our agents have data and analysis available to share with home sellers to inform decision making.
Here are some of the highlights of 2017:
The single-family market was robust. Bronxville had a 19% increase in the number of closings in 2017 compared to the previous year: 50 houses changed hands versus 42. The average price per square foot remained unchanged at $670, indicating stability.
The decrease in median price simply points to more transactions in the mid- to low-end. The median price dropped to $2,350,000 from $2,605,000, 9.8%. The decline in the median sale price simply reflects the increased depth that the village market had in the lower ranges. The median is still the third highest in the last 10 years.
The sweet spot in the village is again the $2,000,000 to $2,999,999 range. There were 20 closings in this range, the same number as in 2016. This price range represented 40% of all sales in 2017 compared to 48% of all sales in 2016. Closely following was the $1,000,000 to $1,999,999 range: 16 closings--up sharply from 9 closings last year. Additionally, there were 2 sales over $5,000,000, the highest being $5,868,500.
The townhouse market was very quiet. There were 6 closings – the lowest number in the last 10 years. The price per square foot was $609, and the median was $1,052,500. Sales of high-end coops and sales of lower-priced houses crowded the townhouse market.
Village co-ops did well, again. The number of closings on co-ops was up nearly 8%, to 41, and the median rose to $535,000. The price per square foot dipped 7% to $451 but remains above the 2015 level of $441. Additionally, one co-op closed at the PSF (price per square foot) of more than $700!
Predictions: The positive effects of the climbing DOW and S&P may offset some of the issues we are now facing in the form of the new tax code. Demand for townhouses may return for those who desire lower school and local taxes with top schools, a fast commute, and the charm that Bronxville offers. Inventory will continue to rise here with the closings at Villa BXV.
Pictured here: Cindy G. Landis, Brokerage Manager, Bronxville Office of Houlihan Lawrence.
Photo courtesy Cindy G. Landis
Real Estate Directory
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 hospital (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 (10708, 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.
Park Sterling Realty
17 1/2 Park Place Bronxville, New York 10708
914-337-1234
https://www.parksterlingrealty.com/
Houlihan Lawrence
4 Valley Road Bronxville, New York 10708
914-337-0400
www.houlihanlawrence.com/offices/Bronxville
www.houlihanlawrence.com
Houlihan & O'Malley
133 Parkway Road Bronxville, New York 10708
914-337-7888
Julia B Fee Sotheby's International Realty
2 Park Place
Bronxville, NY 10708
914-620-8682
Compass
130 Pondfield Road, Suite 10
Bronxville, New York 10708
914 337 0070
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
This email address is being protected from spambots. You need JavaScript enabled to view it.
George R. Mayer, Esq.
65 Pondfield Road #6 Bronxville, New York 10708
914-337-3033 (tel)
914-337-1038 (fax)
www.bronxvillelaw.com
This email address is being protected from spambots. You need JavaScript enabled to view it.
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
This email address is being protected from spambots. You need JavaScript enabled to view it.
Kim O'Toole, Esq.
80 Sagamore Road
914-961-6175 (tel)
914-337-3292 (fax)
This email address is being protected from spambots. You need JavaScript enabled to view it.
Mary Anne O'Callahan, Esq.
32 Gramatan Court Bronxville, New York 10708
914-779-3558 (tel)
914-779-5182 (fax)
This email address is being protected from spambots. You need JavaScript enabled to view it.
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
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
Peter W. Williamson, Esq.
141 Parkway Road
914-337-3434 (tel)
914-337-3392 (fax)
This email address is being protected from spambots. You need JavaScript enabled to view it.
Leslie Homer
71 North Avenue New Rochelle, New York 10801
914-632-8989
www.homerinsurance.com
This email address is being protected from spambots. You need JavaScript enabled to view it.
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
This email address is being protected from spambots. You need JavaScript enabled to view it.
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
This email address is being protected from spambots. You need JavaScript enabled to view it.
Palmer-Tanno Agency, Inc.
Independent Insurance Agents since 1948
Greg Tanno
141 Parkway Road, Suite #11
Bronxville, New York 10708
914-793-6603
This email address is being protected from spambots. You need JavaScript enabled to view it.
Ranieri Insurance Agency
Auto, Home, Business & Life
Over 50 Years' Experience
Paul D. Ranieri, CPCU
457 Palmer Road
Yonkers, NY
914-376-2560
This email address is being protected from spambots. You need JavaScript enabled to view it.
Rollins
Insurance and Risk Management Solutions
Since 1910
65 Main Street
Tuckahoe, New York 10707
914-337-1833
This email address is being protected from spambots. You need JavaScript enabled to view it.
www.rollinsinsurance.com
Edwin Gemes, Ltd.
Bronxville
914-779-7580
This email address is being protected from spambots. You need JavaScript enabled to view it.
Madeline Eckett Oden Interiors
61 Beechmont Avenue
Bronxville, New York 10708
914-779-3935
This email address is being protected from spambots. You need JavaScript enabled to view it.
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
This email address is being protected from spambots. You need JavaScript enabled to view it.
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)
This email address is being protected from spambots. You need JavaScript enabled to view it.
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
This email address is being protected from spambots. You need JavaScript enabled to view it.
www.michaeldavisarchitects.com
Charles Hilton
Hilton Vanderhorn Associates
31 East Elm Street
Greenwich, Ct. 06830
203-862-9011 (tel) 203-862-9196 (fax)
This email address is being protected from spambots. You need JavaScript enabled to view it.
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)
This email address is being protected from spambots. You need JavaScript enabled to view it.
Maggie Marrone Architects
914-771-6750
This email address is being protected from spambots. You need JavaScript enabled to view it.
Peter Pennoyer Architects
432 Park Avenue South, 11th Floor
New York, New York 10016
212-779-9765
This email address is being protected from spambots. You need JavaScript enabled to view it.
www.ppapc.com
Radoslav Opacic Architects
24 N. Astor
Irvington, New York 10533
914-591-4306 (tel)914-591-4308 (fax)
This email address is being protected from spambots. You need JavaScript enabled to view it.
www.opacicarchitects.com
Landscape Architects
Renee Byers, Landscape Architect P.C.
10 Avon Road
Bronxville, New York 10708
914-337-3103
This email address is being protected from spambots. You need JavaScript enabled to view it.
www.reneebyers.com
Engineers
Civil Engineer
Brett Auerhahn P.E.
914-961-2242
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
General Contractors
Vincent Franco
R-Men Contracting
179 Summerfield Street
Scarsdale, New York 10583
914-472-7007 (tel) 914-472-0451 (fax)
This email address is being protected from spambots. You need JavaScript enabled to view it.
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
This email address is being protected from spambots. You need JavaScript enabled to view it.
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
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
This email address is being protected from spambots. You need JavaScript enabled to view it.
www.geeks-on-wheels.net
The Computer Nerds, Inc.
PO Box 31
Bronxville, New York 10708
914-779-7952
This email address is being protected from spambots. You need JavaScript enabled to view it.
www.thecomputernerdsinc.com
TV & Steroes
AV Design
130 East Main Street
Elmsford, New York 10523
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
This email address is being protected from spambots. You need JavaScript enabled to view it.
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
This email address is being protected from spambots. You need JavaScript enabled to view it.
www.rosedalenurseries.com
Sprainbrook Nursery, Inc.
448 Underhill Road
Scarsdale, New York 10583
914-723-2382
www.sprainbrook.com
Real Estate Recent Articles
Quick Links
Newsletter
MyhometownBroxnville reserves the right to monitor and remove all comments. For more information on Posting Rules, please review our Rules and Terms of Use, both of which govern the use and access of this site. Thank you.
The information presented here is for informational purposes only. While every effort has been made to present accurate information, myhometownBronxville, LLC, does not in any way accept responsibility for the accuracy of or consequences from the use of this information herein. We urge all users to independently confirm any information provided herein and consult with an appropriate professional concerning any material issue of fact or law. The views and opinions expressed by the writers, event organizers and advertisers do not necessarily represent those of myhometownBronxville, LLC, its officers, staff or contributors. The use of this website is governed by the Terms of Use . No portion of this publication may be reproduced or redistributed, either in whole or part, without the express written consent of the publisher.
Copyright © 2009 myhometownbronxville.com, All rights reserved.