LOWER HUDSON VALLEY
Luxury Market Update Real Estate Insights from the Fourth Quarter 2015
Demand for Luxury Real Estate in Rockland County on the Rise If current sales trends are any indication, consumers the world over are discovering what Rockland County residents already know, that the area offers a unique and coveted lifestyle with some of the most extraordinary homes available anywhere. Richard Ellis, owner of Ellis Sotheby’s International Realty in Nyack, New York, said the county is seeing an increase in buyers from outside of the United States: “More international buyers are purchasing homes at price points greater than $1 million than ever before. They are coming from places as far-flung as Russia, England, China, India, Moldova and France.” Meanwhile, he said, the county continues to be favored by buyers who live in Manhattan, primarily downtown, the West Side and Brooklyn. Ellis attributes this
interest to consumers seeking luxury real estate with riverfront views in an area that offers a retreat and alternative to the urban lifestyle with less congested roadways and a less-is-more lifestyle. Rockland County offers this plus more parkland per square mile than other counties.
Setting Records “Year-to-date sales are up approximately 17 percent,” said Ellis. “Last year was a relatively flat year, and 2013 was the first year we saw big growth since the market collapsed in 2008. We project Rockland County real estate to be on an upward trend again.”
64 Ludlow Ln., Snedens Landing, Palisades, New York | $4,800,000 | MLS# 4412879
Celebrating 30 years serving New York’s Hudson River commu-
Rockland County’s luxury market is still dominated by buyers who work in the finance, movie, and television industries, including directors, producers, actors, writers and other artists as well as business owners, Ellis said. While the Hudson River communities of Nyack, South Nyack, (cont. page 2)
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properties. However, everything ultimately sells, at the right price. The old saying is true - there IS a buyer for every house." He also indicated that colonials are a top seller in today’s market, followed by bilevels and ranches. Price is not always the indicator of what is extraordinary, he said. “It is the soul of a home that defines its worth. Fine properties are not necessarily defined by price as much as the intangible qualities they offer.”
Grand View-on-Hudson, Piermont and Snedens Landing have grown to be the staple of the luxury market in Rockland County since the 1980s, new records are being achieved in New City at $3.25 million, Piermont at $5.025 million and Suffern at $2.4 million. The New City and Piermont records were achieved by Ellis Sotheby's International Realty. “This is a result of people discovering the area, attractive inventory and positive price points as compared to other counties,” Ellis said. “The economy is doing better, and there is more confidence in the real estate market.” Another factor that is certain to impact the Rockland County real estate market is the construction of the new Tappan Zee Bridge, scheduled to be complete in 2018. It is expected to smooth traffic flows and reduce accident rates, improving Hudson Valley transportation. “This means the Hudson River will be much less of a divider,” said Ellis. “It is like the Internet: it will make the world smaller, at least for tri-state area counties. It also will be good for local merchants and thus the economy."
over that,” he said, adding that Snedens Landing is having its best year in the luxury market since 2005 and 2006, with three sales in the $2-3 million and greater range. “Snedens Landing has become the premier marketplace for luxury homes in the area because of its unparalleled panache,” he said.
Bridging the Gap In 2018, officials expect to open a new bridge spanning the Hudson River between New York’s Rockland and Westchester counties, replacing the 60-year-old Tappan Zee Bridge and thereby easing congestion for some 138,000 vehicles daily and speeding motorists’ commutes.
Snedens Landing: Today’s Hot Market
A Changing Landscape and Bright Horizon Ellis has seen the landscape of Rockland County change in many ways over three decades. Following in the footsteps of his father, who founded the company 30 years ago, Ellis observed firsthand how the community changed and evolved.
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“Our office opened at a time when people were becoming interested in the river community and traditional colonials as the marketplace moved away from suburban tract houses built in the 1960-1980s, as they wanted unique homes with character," he said. "Today there is a strong trend for contemporary and mid-century homes but inventory is always relatively low with these styles. Trends also point to smaller homes versus huge
667 Oak Tree Rd., Palisades, New York | $2,150,000 | MLS# 4533416
Enter the small hamlet known as Snedens Landing and you will find a diverse and eclectic community of artists, finance and creative types, families, singles and even their dogs enjoying the outdoors and views of the Hudson River.
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"It is the bucolic setting, the area's provenance and unique architectural details that are so attractive, as well as the proximity to New York City, Piermont and the parks," said Richard Ellis owner of Ellis Sotheby’s International Realty in Nyack, New York.
According to the New York State Thruway Authority at newnybridge.com, the new bridge will “help smooth traffic flow and reduce the accident rate with eight general traffic lanes, emergency and breakdown lanes, state-of-the-art traffic monitoring systems as well as space for dedicated bus lanes and a path for bicycles and pedestrians.”
“We are seeing people gravitate to the area for both river- and nonriver-view homes at varying price points, from under $1 million to well
©2015 Ellis Sotheby's International Realty | Sotheby's International Realty® is a registered trademark licensed to Sotheby's International Realty Affiliates LLC. Each Office is Independently Owned and Operated. 641 North Broadway, Upper Nyack, New York | $4,995,000 | MLS# 4440730
Nyack
Tuxedo Park
2 La Veta Place, Nyack, New York $1,999,000 | MLS# 4429082
18 Summit Road, Tuxedo Park, New York $2,899,000 | MLS# 4529033
Piermont
Sandalwood is a beautiful Queen Anne Victorian situated on a manicured riverfront property with riparian rights. This gracious home offers river views, seven bedrooms and gourmet kitchen with Frank Lloyd Wright designed cabinets.
Snedens Landing
Tuxedo Park
64 Ludlow Lane, Palisades, New York $4,800,000 | MLS# 4412879
57 Lookout Road, Tuxedo Park, New York $2,200,000 | MLS# 4413438
Snedens Landing
Grandview
On the market for the first time in 38 years, "Seven Oaks," was built in 1862 and is the oldest estate property in Snedens Landing. The 7,772 sq. ft. Gothic Revival home is set on 4.29 bucolic acres, with beautiful gardens and a large in-ground swimming.
This spacious, yet cozy European-inspired villa, located on a private road, offers 4,700 sq. ft. of living space, a home office with private entry, sun room off the master bedroom and huge second-floor playroom. 129 Washington Spring Rd., Palisades, New York | $1,695,000 | MLS# 4523955
This 4,800 sq. ft. residence features a spectacular living room with a fireplace, 28-foot stone wall and floor-to-ceiling windows with dramatic mountain views overlooking the Ramapo Mountains and Harriman State Park.
Located on the banks of the Hudson River, this contemporary home offers stunning river views, a landscaped garden and outdoor entertaining patio. The residence features a living room with 12-foot vaulted ceilings and master suite with a balcony. 66 River Rd., Grandview, New York $1,785,000 | MLS# 4526222
Snedens Landing
Upper Nyack
Piermont
35 Washington Spring Rd., Palisades, New York | $3,295,000 | MLS# 4442281
641 North Broadway, Upper Nyack, New York | $4,995,000 | MLS# 4440730
292 Tweed Blvd., Piermont, New York $999,000 | MLS# 4516712
Upper Grandview
Pierson Lake
Snedens Landing
119 Tweed Blvd., Upper Grandview, New York | $1,100,000 | MLS# 4551158
4 Old Cranberry Road, Sloatsburg, New York | $2,295,000 | MLS# 4530354
Upper Nyack
One of Snedens Landing's most iconic homes, the "Ding Dong House," is a pre-revolutionary war colonial farmhouse with sweeping views of the Hudson River. The property features a bucolic garden with stone patio, private lawn and gunite swimming pool.
Perched atop a ridge overlooking the Hudson River, this 3,500 sq. ft. Mediterranean-style home features sweeping river views, a private setting, 4 bedrooms, 3 bathrooms, a 2-car garage and adjacent 500 acre park.
Tuxedo Park
Palisades
Clarkstown
4 Ridge Road, Tuxedo Park, New York $996,000 | MLS# 4535797
4 Chipman Road, Palisades, New York $1,699,999 | MLS# 4536438
259 Sickletown Road, West Nyack, New York | $2,200,000 | MLS# 4539923
Built in 1898 and lovingly preserved, this Tudor-style estate radiates elegance and historic charm. This stately home features a marble foyer, graceful curved staircase, formal dining room, music room, ballroom and original hardwood floors.
Located on a private road, this stunning colonial was designed by award-winning architect, Jo Machinist. The home features a gourmet kitchen with coffer ceilings and soapstone counters, formal dining room with fireplace and wine cellar.
Situated on 1.7 park-like acres, this 9,000 sq. ft. traditional features two master bedrooms, gourmet granite kitchen, luxurious home theater, glass wine cellar, salt water gunite swimming pool and lower level with bar, gym and playroom.
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One of the largest privately owned parcels on the Hudson River’s northwest bank, this 4,500 sq. ft. private residence is designed to maximize the river views. The home features 30-foot ceilings with walls of glass, antique barn beams and blue stone floors.
Located on Cranberry Lake in a private, gated community, this luxurious Adirondack-style home features over 9,300 sq. ft. of living space and an elegant rustic style with antique barn beams and distressed woodwork.
Located on 300 feet of river frontage, this French country-style home features 18-foot ceilings, large windows overlooking the River, cherry wood den with dual fireplace, en suite bedrooms and riparian rights. 637 North Broadway, Upper Nyack, New York | $3,950,000 | MLS# 4541323
Designed by Charlie Winter, this contemporary residence features an open floor plan with a modern kitchen, family room with wood burning fireplace and a master suite. Floor-to-ceiling windows provide expansive views over the Hudson River.
Located on a private lane, the "Cliff House" is a romantic, mid-century modern home set on 2 riverfront acres. Multiple decks and patios offer effortless indoor-outdoor living. The home features a newly replaced kitchen, 3 fireplaces and wood floors throughout. 40 Lawrence Lane, Palisades, New York $2,995,000 | MLS# 4533403
This light and airy home has an easy flow with spacious rooms and captivating views of Tuxedo Lake. The home features oak floors, an eat-in chef’s kitchen, music room, master suite with balcony and marble en suite and lower-level wine room.
The 4,700 sq. ft. 19th century carriage house features original wide plank wood floors and a renovated kitchen with farmhouse sink. The large studio boasts 11-foot ceilings with original wood-clad walls and sliding barn doors. 31 Castle Road, Piermont, New York $1,595,000 | MLS# 4521036
Palisades
Built in 1857, the "Denike House" is a newly renovated Greek Revival farmhouse that features marble slab countertops, reclaimed antique wood floors and barn beams, shiplap walls, 4 fireplaces and chef-quality appliances. 667 Oak Tree Road, Palisades, New York $2,150,000 | MLS# 4533416
Snedens Landing
Grandview
26 Woods Road, Palisades, New York $2,049,000 | MLS# 4542034
245 River Rd., Grandview, New York $2,250,000 | MLS# 4550067
Built in 1959, “The Whitney House” is an iconic mid-century design that offers an abundance of natural light, 30-foot ceilings and exposed beams. Appointments include natural stone floors, a state-of-the-art kitchen and white marble baths.
This luxurious 19th Century Greek Revival is appointed with the finest period details with modern amenities including a stylish kitchen with soapstone countertops, large wrap around veranda and period fireplace mantels.
Celebrating 30 years serving New York’s Hudson River communities.