The Quarry Place At Tuckahoe

Tuckahoe has become the center for some pretty exciting new developments for the commuter. The village is perfect for those who still want the essence of their New York City lifestyles, close to all shopping, a great night life at hangouts such as Growlers Beer Bistro or the Tap House, and of course the Metro North Tuckahoe Station in the center of it all. The Crestwood station just a mile north takes you to Grand Central on the express in under 30 minutes.

The Building is comprised of around 100 units, there are 3 different apartment styles, there are 1 bedrooms, 2 bedrooms, and 2 bedrooms plus a den, some of the apartments do feature terraces as well.

The 1 bedrooms range from 600 square feet to 850 square feet and start at $2,730 per month. The 2 Bedroom range from 1148 square feet to 1282 square feet starting at $4,780, the 2 Bedrooms that include a den range from 1420-1475 square feet and start at about $5,920 per month. These units all have hardwood flooring, stainless steel appliances, marble countertops, and in-unit washer/dryers.

 

As you can see, the pricing is quite aggressive for the neighborhood, although many NYC commuters are used to paying these inflated rent prices, and are happy to be close to the train and have a quick commute. This amazing rental building also includes a fitness and yoga studio, chic clubroom, expansive garden terrace, outdoor firepit and lounge, outdoor private kitchen, and secured garage parking.

We have seen many builders successfully market these properties to the commuter who is looking to save a bit of money on rent and wants some more space, Westchester County provides a perfect opportunity to do so.

With interest rates seemingly on the rise and the price growth the way it has been, many people are forced to rent, coming up with a 20% down payment is not as easy for homebuyers as it once was.

 

 

 

Building a home in Westchester NY

The topic of building your home from square one is rarely discussed in the New York Metropolitan area for some pretty obvious reasons. The first being that there is very little vacant land, and in many cases the amount of capital it would take to build a brand new home may entail tearing down an old one or using the existing foundation and frame of an existing home. In lower Westchester County, this is really one of the only options you have, unless by some luck you happen to find a buildable lot. For this reason many builders have chose the upper parts of the county for new construction, even going further north into Putnam, Dutchess, and Orange County.

The first step to building your home from scratch in our Eastchester area would be to find the land to build on or to find a home to purchase at a discount to tear down. Obviously this is easier said then done, although there are many older homes in our area that may be potential “tear downs”.

You will need to secure the land by either paying cash or using a bank loan, sometimes landowners will offer seller financing (they will act as the bank). There are many banks that offer such loans that allow you to secure the land and work with a builder to make the plans and get the proper permits in order and will finance the construction. So your second step will be to find the builder you intend to work with and have an architect draw up the plans for your new home.

There are a lot of moving parts that go into home construction besides our favorite finishes in the kitchen and bathrooms. You will need to create your budget on the siding, windows, insulation, plumbing, and the style of architecture in the home.  Make sure the builder and architect are familiar with the local building codes in the area you choose.

If you are not familiar with general contracting and the financing of these types of project, it is strongly recommended that you hire an trustworthy builder (you may want to ask around), as this will hopefully prevent you from being taken advantage of by local contractors.

Be sure to educate yourself on how the bidding works amongst contractors and to carefully read the contracts set forth by the builders. Educating yourself on the building process and the moving parts of the payment plan set forth by the bank to the contractor are very important for you, the consumer.

 

Good luck on your project!

11 Oak Avenue, Tuckahoe NY 10707

11-oak-outside-4

 

Just listed!

 

Location, location, location. This charming multi-family is located just a few steps from the Metro North train station on a private one way street and is equipped with a four car driveway. Investors delight in the Tuckahoe School District, two 3 bedroom duplexes potentially generating $7,000 ($3,500 per unit) per month in income. Each duplex has three spacious bedrooms, perfect for a family to live in one and rent one. Freshly painted with updated mechanics and recently updated kitchens and bathrooms. This home features a communal porch space and flowers lining the front yard. There is a shared washer/dryer room that can be accessed in the back of the house. Each duplex also has their own private porch overlooking the backyard. Perfect for the investor or homeowner looking to reduce expenses. Home is also zoned for single family. Taxes do not include basic star reduction of $1,724.

 

Frank Morris and Ashley Caputo of Barhite and Holzinger Inc present to you this great opportunity to own with the Town of Eastchester in the Village of Tuckahoe. Our estimated monthly mortgage amount is 4,392. That includes the property taxes, a rate of 4% interest, and a 20% down payment. Potentially you can pay off about 80% of your mortgage if you choose to lease one of the units at $3500 per month and live in the other, you will also be eligible at that point for the school tax reduction of $1,724 annually or 143 dollars per month, reducing your mortgage amount to about 4249 per month after the reduction. If we reduce our potential rental income of 3500 from 4249 (After star mortgage) you are at $749 dollars per month! Lets not forget that you also will have the benefits of home ownership and your mortgage interest tax deduction. As the landlord you would also include your fuels, heating costs, and factor in a maintenance figure.

 

There are no other multi family opportunities in the Tuckahoe School District.

The multi family housing market has seen some great increases in value over the past few years, especially in Westchester County where the demand has remained high and homeowners are looking to offset their mortgage payments with income, or investors are speculating the growth of the neighborhoods as people move into the suburbs from NYC.

We will be hosting an open house this Sunday from 1-3 P.M., please join us!

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Villa BXV Comes to Bronxville

village-of-bronxville-4-of-4The moment that many commuters and Westchester lovers have been waiting for, luxury condominiums directly in the village of Bronxville that feature all the necessary amenities for Millennials such as indoor parking, large open layout kitchens, and some units featuring private balconies and patios, and of course… location, location, location. The Villa is located just moments from the Bronxville Train Station.

 

Many of the buildings in Bronxville are quite elegant, pre-war buildings in which the construction does meet the standards of many buyers in todays market. Parking is limited, and many have railroad style kitchens. So this is a very exciting time for millennials and young families that have been dyeing to see some new construction, although its not like there is plenty of space to work with in the Village.

 

The other issue is the amount of inventory available for sale in such a small vicinity. When apartments go up on the market at buildings like 1 Cedar Street Condominiums, or Midland Gardens, they seem to fly off the market to the highest bidder. The Village is also pretty scarce on condominium ownership, which some buyers seemingly prefer. Bronxville Villa will certainly have a competitive edge on the some of the other Condo buildings in the area such as 64 Sagamore Road, 1 Cedar Street, and 12 Meadow.

As of today,   approximately 60% of the units have already sold, and the estimated completion date of the building is September 2017.

And If you know of anyone who is thinking of buying or selling Real Estate in our area, Reach out to Frank Morris at 914-500-9194!

 

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