New Construction of High End Homes Continues Despite Lack of Demand
- Real Estate
- Published on Tuesday, 09 February 2016 14:22
- Joanne Wallenstein
Though realtors report an over abundance of homes priced at $3 million and up in Scarsdale, and a 30% decrease in home sales for homes priced at $3-5mm in 2015, the slowdown in high-end sales does not appear to be impacting new construction of mega homes in the Village. There are currently 58 homes priced aat $3 mm plus for sale in the Scarsdale School District.
In 2015, 40 homes were cleared for demolition, up from 26 in 2011 and 31 in 2013. At the January 2016 meeting of the Board of Architectural Review, a new house was approved for 3 Edgewood Road, and plans for new homes at 24 Tunstall Road, 1 Burgess Road, and 1 Overlook Road were reviewed. All evidence shows that the building boom continues in town despite the dearth of buyers for these homes.
For the most part, the homes that are demolished are replaced with others priced at $3 million and up, out of the price range of young families who wish to move here.
Village Trustees spent months considering changes to the historic preservation laws and retained a consultant to analyze our FAR code to see how the bulk of new homes might be curbed. However, they reached no conclusions and failed to pass any amendments to regulate the size and height of the new homes, which are often double the size of the ones they replaced.
The New York Times reports that the Village of Larchmont has declared a six-month moratorium on residential building in the Village in response to applications to tear down the picturesque Victorian homes that provide local character. It appears that Scarsdale builders Bobby Ben-Simon and Shlomo Freidfertig are attempting to do what they did in Scarsdale in Larchmont; buying large homes on big lots, applying to subdivide the lots and replace one house with two or even four. According to the article, "neighboring communities like Scarsdale and Rye have become saturated with new housing," so developers are looking farther afield. However, unlike Scarsdale, residents there have launched a movement to "Preserve Larchmont," and Freidfertig is quoted in the article saying, ""In my 35 years building, I've never had so much trouble."
There's no move afoot to preserve Scarsdale. So until market forces impact economics or the trustees resume discussions on historic preservation, lot coverage and home size, teardowns and the construction of large new homes on smaller lots should continue at their current pace.
Here are a few new projects we spotted:
On Murray Hill Road, two new homes are going up side by side on the south side of the street.
See the photo at top of the demolition and the new $7.5 million, 8,738 square foot house that is being put up in its place.
At 66 Brookby Road, construction is in progress to build a 7,049 square foot home, priced at $3,299,000 on just a quarter of an acre. The 6 bedroom, 7.1 bath home has four stories and replaces a modest cape with a pool that have been razed.
Though a massive new home sits unoccupied on Garden Road, just around the corner from Oxford Road, a new home is under construction there, and another was razed over a year ago, leaving a vacant, fenced in lot.
What are your thoughts on new construction in Scarsdale? Let us know what you think in the comments section below.
19 Leatherstocking Lane
This six bedroom, four and a half bath home is on a level half-acre in Heathcote. The foyer leads to a renovated kitchen with premium appliances and Kashmir Gold granite countertops. There is a living room with a fireplace and French doors to the deck, dining room, powder room and a family room with a door to the deck. The second floor features three bedrooms with one en-suite bath and one hall bath and up a few more steps, a master suite with a large bedroom with French doors to the deck, separate sitting area, dressing area, two walk-in closets and a master bath with Jacuzzi tub and shower. The lower level boasts two additional bedrooms, a hall bath and a recreation room with a fireplace and French doors to the patio and yard, plus a laundry area, storage and a two car garage.
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This renovated classic Colonial located in Greenacres features a new custom kitchen, new bathrooms, new living room, all new windows, indoor and outdoor speakers and French doors throughout. It has six bedrooms and three and a half bathrooms and a lower level playroom. There is more than 4,000 interior square feet with a private yard.
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46 Secor Road
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250 Clayton Road
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Sale Price: $1,230,000
8 Highview Drive, Greenburgh
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For more information, click here.
List Price: $535,000