03/28/08

One Big Space, Two and a Half Long Years

03/20/08

Condos Everywhere, Anywhere

With empty nesters looking to down size and New York City professionals looking for a less pricey alternative to Manhattan, it should come as no surprise that condo developments are popping up in many towns. The median sale price for a Westchester condominium increased by $15,000 or 4 percent, to $390,000 in the last quarter of 2007, a higher percentage than coops (2.7 percent), single-family homes (just under .7 percent), and multi-family homes (-2.4 percent).

The demand may be there. But, we ask, why are developers building condos in well, horrid, locations.

03/13/08

Re-Sale at The Ritz

Want to live at The Residences at the glitzy Ritz Carlton, Westchester? At least three apartment owners who thought they did—now want out.

Take the couple, which owns apartment 15A in South Tower. They work in the county but live in a house by the water in the Bronx. After closing on the two bedroom, two-and-a-half bath unit in December, they "decided they wanted to stay in their house after all, according to Christine Hazelton of Prudential Rand, the agent for 15A. “This is a resale that’s like new," Hazelton says. "The owners never lived in it."

Perhaps. But why then was it reduced last week from $1,199,000 to $1,149,000?

John Sauro, president of...