The Sky is NOT Falling- Current Real Estate News – Paul Breunich

I rather think this article by our President and Chief Executive Officer, Mr. Paul Breunich says it all, but it is important to note that the real estate market is always local, and also determined by price point !  Please utilize the link below for the full, important article..

 

From the desk of Paul Breunich, President and Chief Executive Officer of
William Pitt and Julia B. Fee Sotheby’s International Realty


You may have seen the recent news ………..

 

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61 Stony Run , Bayberry area New Rochelle – a home for all Seasons!

Desirable Bayberry at its finest! This elegant 5 bedroom, 3 bathroom 2384 sq. ft. home on 0.31 of an acre is a botanist’s delight! The beautiful newer kitchen has an arched ceiling, as does the beamed living room (with skylights!) , wood-burning fireplace and dining room with gleaming hardwood floors throughout. The living room opens up to a cozy den area, all overlooking the patio and beautiful terraced rear garden, perfect for entertaining! The first floor accesses the master bedroom, master bath, a second bedroom and hall bathroom.

The second floor offers 2 bedrooms/Jack n Jill bathroom. Seeking a separate suite of rooms? Look no further! There is a library accessed off the dining room area, plus a private bedroom. Low taxes, additional 700 sq. ft. in attractive lower level, Central Air, gas heat and oak custom windows and sliding doors make this light-filled home truly special! Bayberry has a wonderful community pool, volleyball court, tennis, basketball, camp & cafe too!

This lovely property overlooks a pond (shared with neighbors), and while it is charming to behold in the spring and summer  (spraying frequently utilizing an environmentally  friendly company so no mosquitoes ), when it freezes over in the winter  you can skate upon it! Perfect!

Just 30 minutes from New York City .Welcome home! There will be a public open house on Sunday, August 12th from 1-3 p.m.

New Rochelle is GREAT!

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New Rochelle- Moving Forward – Ideally Yours ( Always Ours!)

Mayor Noam Bramsom

Mayor Noam Bramson , always informative, invited all of the local Realtors to City Hall for an update on the city to address the hopes and concerns of the current and prospective residents,

Mr. Luiz Aragon

and it was very well received! Why not!

SO, what is happening?  Present were Luiz Aragon (Commissioner of Development) ,  and John Barnes  (the Principal of the Albert Leonard Middle School) in addition to Noam.

Mr. Aragon (who has been so great)  commented on how 3 1/2 – 4 years ago, the City had started to pave a new path for a bright future for investment and development in New Rochelle.  He had centered on approximately 300 acres of land in the downtown, with the New Rochelle Library and train station  being a central point (“the heart beat of the city”) , and his goal – along with the powers that be  in New Rochelle, was to build a gateway toward a dynamic New Rochelle, with new buildings, great walkability, a South Street Seaport like venture  -all to further our great city. New Rochelle is also the only city in Westchester to have Amtrak train service go to Boston and Washington.

They had allowed themselves a 10 year time frame for this undertaking, and already 50% of the projected plans have been approved. Partnered with RXR, these projects are grounded in reality, creating a zoning code that has been easier to follow than the past with RXR underwriting the environmental review thus shortening the usual time span required to file for new buildings. Some of the projects includes  new rental buildings . For example,  where the Smoke House is currently located will be 74 Housing Units with municipal parking.  Young Companies has several buildings planned all the way from the car wash to  Fifth Avenue.

Two Hamilton Avenue by Spiritos Properties is another development where the facade will be restored to its original glory with four additional Timber Construction floors with residential units.  Did you know that New Rochelle will be the first community in the region to have an entire timber constructed building?

ELD Properties are building New Ro Studios at 11 Burling Lane offering a preference to artists, and the ground floor will feature a co-working space for the artist residents!  Across the street from there at 22 Burling Avenue, ELD is constructing a building with a center courtyard with a tropical garden!

64 Centre Avenue will be the site of a 110 unit building – all rentals with some commercial space on the ground floor. Where the Loew’s Theatre  was once located  – 587 Main Street will house a 10,000 square foot Black Box  (inter changeable) Performance Theatre.

391 Huguenot will replace the U-Haul company currently there with a robotic parking.  Adjacent to the former  Church/Division Street parking garage, will be the new site of a  self-serve hotel with 80 rooms.

Where the Church/Division Street parking garage once was, RXR Realty will be building  two 28 story residential towers,  and a public pedestrian plaza offering an environmental friendly pocket park.

500 Main Street – where the Covenant Church stood, will, in partnership with the Baptist Church occupy the ground level.

A new dormitory is being planned for Locust Avenue by the St. Katherine’s Group – a private development in partnership with Monroe College. 

14 LeCount Place will be the site of two towers – 28 stories tall with 500 units total. This is the undertaking of Wilder Balter Partners, Inc.

Macquesten Development, LLC in partnership with the city has planned a 27 story Residential building at 45 Harrison Street..

45 Harrison will house the new City Hall with the fire station being relocated to a new fire station site (to be built).

The Printhouse is being built by East & Hudson and Megalith, located at 165 Huguenot Street will be a 6 story, high end 71 unit building complete with a rooftop terrace, residence lounge, state of the art fitness center, and ground floor retail! This is expected to be completed in 2018!

The Cappelli oganization is building at 251 North Avenue which will feature both retail and apartments.

Twining Properties has a long term project in the works at Pratt Landing where  it will resemble a South Street Seaport with great walkability from downtown. The 100,000 square feet of space will be the site of housing units, town homes, condos and a 200 bed hotel. This is in the marketing phase.

In all, approximately 6370 new housing units have been planned, with approximately 3300 right now approved..  The condos at the old Beckwith Pointe ( Watermark Point) have been a tremendous success with over 30 of the condos currently sold (72  condos in all).

In order to attract all of this development, there has been a PILOT program utilized ( Payment in lieu of Taxes) with the city receiving approximately 120 Million in net benefit over a 20 year period. The question of parking ( always a concern) was brought up, and it was mentioned that developers must offer one parking spot for each unit. However, developers can also pay into a fund which can reduce up to 30% of the parking requirement. The fund will be utilized to build new parking garages.

Mr. John Barnes

Mr. John Barnes , who has been the Principal of the Albert Leonard Middle School for 6 years then spoke about the school system.

He spoke of the wonderful languages the schools offer ( Please see my earlier blog on this subject!),  the 80 sports teams – 56 teams being at the High School, 24 teams at Albert Leonard – and of course he mentioned our undefeated soccer team! There is a recycling club, a writers workshop, more than 32 AP classes offered, and of course, every single Ivy League School will be represented  by at least one New Rochelle student  this fall. See my blog on the Top 33 Student college choices!

Lastly, two representatives from ENERGIZE New Rochelle spoke on how residents can lower their energy costs.  “New Rochelle is partnering with a non-profit program, Energize New Rochelle, to encourage home owners to take advantage of a home energy savings program. ”  The program pairs home owners with licensed contractors to go through their home to find ways they can save money by making their home green.  (914 – 302-7300, ext. 8102)  New Rochelle.EnergizeNY.org

New Rochelle – a city – but we all know one another- it just feels like a village! New Rochelle – Ideally Yours!

Thank you Noam, Luiz . Energize New Rochelle and Mr. Barnes for a great presentation!

New Rochelle is GREAT!

 

 

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Tlaquepaque Restaurant – Mexican Dining at its Best!

SO, with an Australian house guest, we are endeavoring to show her how great our local restaurants are, one at a time!  In wishing to visit a local, Mexican Restaurant in New Rochelle, I came across The Tlaquepaque Restaurant located at 347 North Avenue. I had noticed a wonderful review in the Westchester Magazine, and that was enough for me!

Salmon with a pistachio sauce at Restaurant Tlaquepaque

The restaurant is intimate with a wonderful ambiance, the host (and owner) was so gracious and great, he made us feel immediately welcomed. I was enchanted by a Mexican station on the television, televising videos of Mexican singers which truly made you feel you were a part of their audience. It all added to the evening’s enjoyment.

My son loved the cactus!

We were served with home made chips and a nicely spiced salsa – those were soon gobbled up – so fresh and Delicious.

We first ordered calamari frito con mayonesa picante (fried calamari with a picante mayonnaise dipping sauce), and the guacamole and chips (avocado, chopped tomatoes, cilantro, jalapeno pepper and lemon)..  Both delicious.

Pollo Tlaquepaque

There were five of us, and so different food choices ! I ordered one of the house specials – Salmon with a pistachio sauce, perfectly cooked vegetables (broccoli, cauliflower and carrots all with a slight crunch), and white rice. We also savored the Pollo Tlaquepaque (sauteed chicken breast with bell peppers, onion, peaches and a spicy tomato sauce served with white rice and beans) – the peaches were a great compliment to the spicy sauce.., Bistec Tampiquena (grilled steak topped with two cheese enchiladas served with refried beans), Chiles Rellenos (Mexican bell peppers stuffed with cheese in a vegetable broth or in a tomato cream sauce) , and a son ordered a steak dish with cactus which he said was delicious ( alas he didn’t share- it was gone too quickly!).  There were a variety of desserts offered, but we were all too full. Next time!

Beer seemed to be the perfect accompaniment on a very hot day, but wines and margaritas of course are also served!  The owner treated us all to a Tequila shot after our dinner! Oh my! A first for me.. I loved it.

Will we be returning to this New Rochelle restaurant?  Si, si si!

Tlaquepaque – located at 347 North Avenue, New Rochelle,  and my one complaint would be that there is no website! It took me 9 years to find this great restaurant . My loss but now gain!

New Rochelle is GREAT!

 

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Open House – 47 Harding Drive Saturday, July 28th 1-3 p.m.

There will be a public open house Saturday, July 28th from 1-3 p..m Look no further than this 3 bedroom, 1 bath 1510 square foot Colonial home with a truly deep backyard perfect for entertaining or growing your luscious, home grown vegetables! The owner’s great style is shown in her first floor design with the living room’s casual elegance, fireplace, dining room and large sun room with its easy access to the patio and yard. The sun room permeates warmth, has a skylight too, and is great in all seasons. The kitchen is spacious and charming also! There are three bedrooms on the second floor, a hall bathroom, and don’t forget the great space in the basement! There is a one car garage, great hardwood floors and a gas furnace which was installed in 2006, along with gutters, Andersen windows and a 40 year Timberline roof installed in 2001.

You are so close to shops, art galleries, fine dining and the vibrant down town. Did you know that New Rochelle’ Amtrak trains go to Boston & Washington, D.C. in addition to NYC which is just 35 minutes away?   This delightful home is being offered at $517,000!

http://47hardingdrive.com/

Come and join me. You will LOVE this home!

New Rochelle is great!

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Public Open House 1-3 p.m. 15 Cortlandt Avenue New Rochelle

Public open today at a distinctive 5 bedroom, 4.5 bath 3941 square foot Tudor home in desirable Rochelle Heights. Located on 0.39 of an acre, this sunny and charming home offers great architectural detailing throughout. You will love the terrace, the sun room, the formal dining room, and large living room with its fireplace, and exquisite French doors. Warmth permeates the eat-in kitchen which was renovated in 2008 and has granite counters and a 6 burner Viking range. There is a rear stairway to the second floor in addition to the grand staircase. The master bedroom suite features a huge master marble bathroom, great closets, and an adjoining sitting room with a fireplace too. There are two other bedrooms with en suite baths on the second floor, 2 additional bedrooms on the third floor and a hall bath.  Don’t forget the newer windows! With the area clay tennis courts, and neighborhood activities such as seasonal dinners, the Turkey Trot race, and the flower sale, you will immediately feel welcomed! Just 30 minutes to New York City. Perfect!  The open house will be from 1-3 p.m.

Come and visit. You will love this home and New Rochelle!

 

New Rochelle is GREAT!

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What is Happening in the 2018 Real Estate Market ?

What is happening in the real estate market for 2018? Many sellers are lamenting that their respective homes have not sold, perhaps blaming their agents,  buyers are waiting to purchase and so I thought I would address potential reasons why and how the year has evolved thus far! 

One obvious reason is the new tax law. With home owners only able to deduct mortgage interest up to $750,000 and mortgage taxes of only $10,000, this limits buying power. As a rule, each $100,000 in a mortgage equals approximately approximately a $500 additional monthly expenditure but obviously that also depends upon credit scores, etc. SO, logically, if you cannot deduct X amount, then your monthly costs increase, and buying power is less.

However, we should also note that the Federal Reserve is expected to increase the mortgage rates twice more before years end, and so buyers should also realize  that with increased mortgage rates by next year, they will be affording less than this year.

So if the buyers are on the fence this year on whether to sell their home or buy a home at a higher housing price, but lower rate, or to wait until next year, possibly get a lower purchase price, but a higher rate:

One positive note is that the new tax laws while effective this year, will be realized next year and  many buyers will have lower taxes which might offset the mortgage  increases a tad.

1 Year Ago:

Loan Amount – $750,000 @ 3.5% (APR 3.510%), monthly payment = $3367

Loan Amount – $1,500,000 @ 3.5% (APR 3.510%), monthly payment = $6735

Loan Amount – $2,100,000 @ 3.5% (APR 3.510%), monthly payment = $9,429

Today:

Loan Amount – $750,000 @ 4.5% (APR 4.510%), monthly payment = $3800

Loan Amount – $1,500,000 @ 4.5% (APR 4.510%), monthly payment = $7600

Loan Amount – $2,100,000 @ 4.5% (APR 4.510%), monthly payment = $10,640

Possible 1 year from now:

Loan Amount – $750,000 @ 5.5% (APR 5.510%), monthly payment = $4258

Loan Amount – $1,500,000 @ 5.5% (APR 5.510%), monthly payment = $8516

Loan Amount – $2,100,000 @ 5.5% (APR 5.510%), monthly payment = $11,923

$675,000 purchase price ($540,000 Loan Amount)  @ 4.5% (APR 4.510%), payment = $2736 (buying the house now)

$625,000 purchase price ($500,000 Loan Amount)  @ 5.5% (APR 5.510%), payment = $2838 (buying the house at a lower purchase price, but higher rate)

(Many thanks to Veronica and  Dan for the possible mortgage scenarios given above). Veronica Finkel | Sr Home Lending Advisor CPC | NMLS ID 62262 | Home Lending | Chase | 608 Columbus Ave., Thornwood, NY 10594 | Office: 914-420-7875 | Cell: 914-420-7875 |

Fax: 877-891-5572| veronica.finkel@chase.comhttp://homeloan.chase.com/veronica.finkel

Dan Amatuzzo | Home Lending Assistant | NMLS ID 599628 | Home Lending | Chase | 360 South Broadway | Tarrytown, NY 10591 | Office: 914-993-7981 | Cell:  646-306-4327 | Fax: 844-315-9418 | dan.amatuzzo@chase.com

Another key important factor is the fact that many buyers come to Westchester from the city, and they must first sell their coops/condos before doing so.  There are fewer coops and condos on the market under a million than there were a year or so ago, and putting it simply,  buyers entering the market in the city, can’t afford the higher priced properties, and there is a paucity of lesser priced  apartments, people can’t afford to ‘move up’ and so the higher priced apartments are simply sitting there.  There are many new buildings so the apartments are available but at such high prices,  people cannot afford them.  Grant Long wrote a great article on the real estate market  in the city, explaining in detail stats these past few years.  

Buyers are waiting for price drops there, and so this market trend is affecting Westchester sales.  It should be noted that private schools in the city can cost up to $50,000 a year, and this is where Westchester’s great schools should make buying a home in Westchester a no brainer! When you start adding the cost of  a private school for 2 children in the city, compared to our higher taxes here, then the value of moving to Westchester becomes quite evident as one offsets the other. Plus, Westchester offers beaches, great parks, sports of all kinds, sailing, kayaking and fresh air!! If you live in lower Westchester, you are also 30 minutes or so from the city. The best of both worlds! 

However, if a mortgage will cost more for a buyer thus lowering their buying power, it should also be stated that the cash they might have had to renovate a home last year, is also shrinking, and so buyers are also seeking homes that are renovated,  and do not require too much work ‘to make it their own’. If there are 10 homes on the market in the same price range, and one of those homes is completely renovated  with a newer kitchen, bathrooms, etc. – then it is obvious which house will sell first. Sellers should make sure their home is priced well ( perhaps a tad lower than they would like but to attract as many buyers as possible) , presented well, and any little jobs that require fixing, they should take care of them. We talk about the buyers being fussy, and I hope this article explains why this is so!

The buyers are out there, but they are seeking value. Since there are price drops in the different towns,  sellers in New York will potentially offset any loss they might have there with similar price drops in Westchester  (higher priced homes) .

Please contact me for all of your real estate requirements!

 

http://www.gayrosen.com

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So Many Languages Offered in the New Rochelle Schools!

There are so many GREAT reasons to purchase a home in New Rochelle. One such reason would be the languages offered to our students in the different schools. 

Did you know that your student has the opportunity of learning a variety of languages such as Spanish, Italian, Mandarin, French and Latin.

“Our Dual Language Programs’ mission is to prepare multi-literate citizens in an international community. We seek, therefore:
1. To develop literacy and fluency in both English and in a second language (Spanish or Italian)
2. To promote cross-cultural awareness through the integration of English speakers and Spanish/ Italian speakers
3. To create accessibility to advanced world language credits and courses in higher grades
4. To promote high academic achievement through linguistic cognitive development. “

Mandarin is offered at the Davis Elementary School grades 2nd thru 5th, and at Webster Kaleidoscope grades 4th and 5th. No other elementary schools has Mandarin.  At Davis students have classes twice at week and at Webster every other day.

Ward and Trinity offer CILA programs  (Children’s International Language Academy). This is comprised of students speaking Spanish, and those students  who have some knowledge of Spanish.  However, At Ward, there is a  FLES program  (Foreign Language in the Elementary School) in Spanish K thru 5th. At Jefferson there is also a  FLES program K thru 5th. At Webster  there is a Spanish FLES K thru 5th No FLES programs are offered at Columbus or Trinity.

At Barnard, there is a Italian FLES program K thru 2nd Grade.  There is an Italian FLES offered at Jefferson 3rd thru 5th Grades.

Latin is offered at the High School, and it is also offered at both Middle school Albert Leonard Middle School and Isaac E. Young Middle School.

Both middle schools offer Spanish, French, Italian, Mandarin and Latin. 

Mr. Juan Mendez , Chairperson of World Languages  & the ELL Department very kindly took the time to answer my questions on existing languages offered, but I also wanted to ask some  additional questions:

  1. What do you see for the future of different languages in our school district?  What are the percentages of students taking the AP courses?   (Answer)  At this juncture, there is not interest in adding another language. I do not have the percentage of AP students but I can tell you that we have two sections of AP Spanish language, one section of AP Spanish Literature, one section of French language, one section of AP Italian language, one section of Mandarin AP language, and one section of Latin AP.

New Rochelle Schools offer wonderful programs, and as I wrote in a recent blog, our students attend superb Colleges and Universities!

Come and visit. You will love it, and want to stay!

New Rochelle is GREAT!

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Rhiannon Navin – Author “The Only Child” – New Rochelle Resident –

Imagine my surprise when I popped into the  New Rochelle library, and I saw in the express book section, a new book written by a former client and friend, Rhiannon Navin entitled “The Only Child” !  I contacted Rhiannon immediately as I wanted to interview her for my blog site (of course!), and to also learn about the process as I know firsthand how busy she is with her family and pets.

The story centers around a 6 year old boy, Zach, who survives a school shooting where 15 students and 4 adults are killed, and it is written from the young Boy, Zach’s perspective, and describes how he copes with the day to day emotions, and how his parents react to losing their older son who was one of the students murdered.

We met for  lunch at  Patrias where we dined on some some tapas and wine (always good -and a great restaurant), caught up on our gossip and  then Rhiannon shared with me how the book took her a year to write, how that once she started writing, it just evolved,  and flowed, and she found herself working into the wee hours each night trying to capture her thoughts whilst anew.  Rhiannon has young children, and if she felt unsure of how to phrase a word or an emotion, she always had her children to help her out.  They were her focus group.   She also found it very important to obtain a writing coach. Rhiannon used to work in advertising, was always used to hard work ,  but she had children – how could she write and be a mom!  Her coach who described herself as being ‘an unkind coach’ was the kindest coach Rhiannon could have hoped to have met,  told her to  dedicate time  each day, and  to write and write.  She did just that, and found  herself writing at night , during the day, and having the coach was a wonderful sounding board and critic.  The perfect support system.  Even though her coach was living in Dubai, it all worked out perfectly. Rhiannon researched agents, and was very fortunate to be signed by the very first agent she approached, and her book is  published by Knopf.  I guess that goes a long way to describe the book’s substance.

I had read the first two chapters prior to meeting Rhiannon, and I found myself tearing up – who wouldn’t when reading about such sensitive subject matter?  To read how a teacher and children were hiding in a closet whilst hearing gun shots.  Who would want any child to experience that.  So, I had a sense of the story line , but I also wanted to read the book. I must confess, I was mopping away the tears as I finished reading the book at 5 am one morning.

It is written intelligently and well, and there is also a sub narrative taking place too where you catch a glimpse of what the parents are feeling, how they are reacting to the situation, and each other,  coping and not coping and how it affects Zach.   Would  you blame the parents of the young man who committed the crime or do you come together as a community and help each other through this unimaginable horror? These are the topics touched upon in this book.

How did the story evolve? Rhiannon  has twins, and after a lock down drill at school, she came into a room to find one of her twins under the dining room table,  hiding from the ‘bad guys’.  It made her wonder what emotions her children were going through having to learn the necessity in today’s world of a lock down drill. The book took format in her mind, and she felt compelled to write it through the  eyes of a child. It seemed like the most natural approach.

The book was published just before the Parkland tragedy, and so she felt it only right to take a step back before conducting any tours or interviews.  That is Rhiannon.  The book has been well received by all, and it is now published around the world.

You can still meet Rhiannon as she tours with other authors and here is a link to those upcoming events.  

Rhiannon is now working on her second novel, and I cant wait to read it!

New Rochelle is a great place in which to reside,  and be creative!

New Rochelle is GREAT!

 

 

 

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2018 College Choices for Top 33 New Rochelle Students

Each year, the Principal usually announces the top 25 students college choices at the award ceremony. This year, since there were 33 students with GPA’s of over 100, Mr. Richardson announced the top 33 students  college choices! While I am just listing the colleges,  please know that each student was so qualified in every respect. 

  1.  Princeton – Studying Math and or Philosophy
  2.  Harvard – Engineering
  3.  Yale University – Political Science
  4.  Dartmouth College – Environmental or Biological Engineering
  5.  John’s Hopkins – Bio-Medical Program & Computer Science   Dual Program
  6.  Georgia Institute of Technology – Aerospace Engineering
  7.  University of Michigan – Psychology or Political Science
  8.  Amherst – Playing Soccer! Studying Neuroscience & Psychology
  9.  Purdue University – Engineering
  10.  University of California at Los Angeles – Political Science
  11.  Washington University in St. Louis – Psychiatrist
  12.   Middlebury College – Political Science
  13.   Yale University – Law School for Foreign Relations
  14.   New York University – Student scored a PERFECT score in the SAT’s in Math
  15.   Villanova University
  16.   Cornell University
  17.   Belmont University – Academic Scholarship majoring in Music
  18.   University of Michigan – Ross School of Biusiness
  19.   Cornell University – Neurologist
  20.   Brown University –  Her goal?  United States Senator!
  21.   SUNY Binghamton  – Business & Math
  22.   University of Michigan – Public Health Field of Medicine –  Pediatrician
  23.   University of Texas at Austin – Mechanical Engineering
  24.   Binghamton University – Computer Science
  25.   Cornell University – Business
  26.   University of Oregon – Clark Honors Program
  27.   Providence College – Biology  Engineering
  28.   University of Maryland – Psychology & Early Childhood Development
  29.   University of Pittsburgh Honors Program – Mechanical Engineer
  30.   Florida State University – High School Teacher & Writer
  31.   Tufts – Medicine & Computer Science
  32.   Cornell University – Business
  33.   New York University –  Finance

WOW!

New Rochelle is GREAT!

 

 

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