Tag Archives: Armonk NY Homes

Armonk NY Homes

Record-breaking $147 million home once sold for $120 | Armonk Real Estate


The most expensive home in the history of the United States once sold for $120. Not $120 million. 120 dollars.

The record-breaking sale occurred last month when hedge fund manager Barry Rosenstein bought a property that can only be described as a “spread.”

Rosenstein bought the property in the East Hamptons in New York for $147 million. According to an article from Forbes, the property once sold for $120.

Admittedly, the $120 sale did take place in 1901, but that’s still an astronomical amount of appreciation for the value of the property. In fact, it’s an appreciation of 122,499,900%. That’s 122 million percent!

The property’s history is particularly fascinating. According to the Forbes article:

The property’s roots trace all the way back to Lion Gardiner, who in 1639 and with a grant from King Charles I, settled ”Gardiners Island” in the bay off Long Island’s South Fork, creating the first English colonial settlement in what would become New York State. Gardiner purchased the property from the Montaukett Indians for “one large dog, one gun, some powder and shot, some rum and several blankets, worth in all about Five Pounds sterling.”

In its time, the property has been owned by a group that included: Pan Am founder Juan Trippe; insurance salesman and tennis promoter Julian Myrick; grandfather of Jacqueline Kennedy Onassis; James Lee; Howard Dean, grandfather of the former presidential candidate; and A. Wallace Chauncey.

In recent years, Christopher H. Browne, the value investor who was managing director of New York investment firm Tweedy, owned the property until his death in 2009. He purchased it for $13.4 million in 1996. He left the property to his partner Andrew Gordon, who died of cancer in 2013.

Rosenstein purchased the property for nearly $115 million more than Browne paid for the property in 1996. And for nearly $147 million more than David Gardner, Lion’s descendant, paid for it in 1901.


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Conrad Hilton’s Beached Boathouse In The Keys Asks $6.25M | Armonk Real Estate


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A boathouse purportedly custom build for Conrad Hilton, the famous hotel baron and founder of Hilton Hotels, and Paris’ grandpop, is on the market for $6.25 million. The 60 foot 1948 Chris Craft was docked next to the nearby Cheeca Lodge when Hurricane Donna hit in 1960, flinging Hilton’s boathouse up onto US 1, from where it was then rolled on telephone poles to this spot. It has also played host to Presidents Truman and Bush Sr. over the years. The boathouse has a main level cabin and bunk beds in what was probably the upper deck bridge, and comes with 5.24 acres of land and an expansive 300 feet of oceanfront beach, which is fabulously rare in the keys.



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Rates are low, prices stable — why is no one buying? | Armonk Real Estate


Motley Fool has a piece up from the weekend that caught HousingWire’s eye: “2 Simple Charts Prove That Now Is An Exceptional Time to Buy a Home.”

It caught our eye because it sounds like the kind of story we publish from time to time – our own story from just a month ago along these lines looks at the convergence of low mortgage rates and home prices with a slightly different twist. The Motley Fool writer starts strong enough:

If you’re wondering whether this summer is a smart time to buy a home, then let me cut to the chase. Thanks to still-historically low mortgage rates, housing may never again be as affordable as it is right now.

At present, the interest rate on a 30-year fixed rate mortgage is 4.19%. That’s the cheapest they’ve been all year, and they even recently dipped below half the long-run average of 8.52%.

Click below to see the chart.

Mortgage rates and home prices are two of the big drivers of home sales, after all. Motley Fool looks at these in terms of rates (ridiculously low) and home price affordability, which as measured by the National Association of Realtors, is “the degree to which a typical family can afford the monthly mortgage payments on a typical home.”

Click below to see the chart.

And by that NAR measure alone, homes are more affordable – but that’s just too broad a measure. It’s an empty measure, like the 77 cents on the dollar argument, that doesn’t fairly reflect reality.

But for the sake of argument, let’s say the NAR affordability index isn’t flawed.

Rates are low. According to Freddie Mac’s latest Primary Mortgage Market Survey, although rates edged slightly higher for the week ended June 12, they are still low for the year. The 30-year, fixed rate mortgage averaged 4.20%, up from 4.14% last week and 3.98% a year ago.



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Create a Secret Doorway Behind a Bookcase | Armonk Real Estate


Everyone’s got something to hide. Cash, documents, jewels, guns, clutter — these are things that earn our extra consideration for being stashed away securely. And no, under your mattress or at the bottom of your sock drawer isn’t going to cut it.

Enter the hidden doorway behind the bookcase. This cool concept keeps your belongings safely tucked away out of sight. Plus, it’s fun. Here’s how to add one.

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Kensico Burger And Beer Festival To Feature 30 Local Restaurants | Armonk Real Estate


Let out your inner child, foodie, shopaholic and nature lover out at these exciting upcoming events in Westchester County.

1. Westchester’s Burger and Beer Blast at Kensico Dam Plaza in Valhalla on Friday, June 6 from 6 p.m. to 10 p.m.

Described as “the ultimate block party,” this part of Westchester Magazine’s Food and Wine week may be the tastiest. Thirty lauded burger restaurants from across the county will strut their stuff, serving signature dishes along with beer pairings. When you’re done noshing, vote on the best burger and catch a live performance by Mary C and the Stellars. $65. 21 and older. Rain or shine.

2. Pelham’s Annual Street Fair on Saturday, June 7 from 10 a.m. to 5 p.m.

Hosted by the Chamber of Commerce, the free fair has attracted thousands of people from around the area in previous years. The event sports several fun activities for children and adults alike to benefit a variety of local businesses and philanthropies. Free. Rain or shine. Fifth Avenue between First and Lincoln Avenues.

3. Family Bird Walk in Mamaroneck’s Harbor Island Park on Saturday, June 7 at 10:15 a.m.

Led by Phil Horner, longtime resident and member of the Mamaroneck village committee for the environment, enjoy a walk through scenic harbor island park and learn about some of your local feathered friends. Free, but make sure to bring your own binoculars. Meet at the Marine Education Center.

4. Yonkers’ LEGOLAND Discovery Center Westchester Brick Factor on Saturday and Sunday, June 7-8, at 10 a.m.

“Brick Factor” is a two day search in which contestants will compete in creative LEGO building challenges for a chance to win their dream job as a Master Model Builder. 39 Fitzgerald Street.



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World’s most expensive billionaire homes | Armonk Real Estate

Owner: Bill Gates, net worth $77.5 billion

Market value: $120.5 million, 2014 tax assessment

The high-tech Lake Washington complex owned by the world’s second-richest man boasts a pool with an underwater music system, a 2,500-square-foot gym and a library with a domed reading room.


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Metro Atlanta home prices jumped 18% at end of ‘13 | Armonk Real Estate


Metro Atlanta’s housing market continued to rebound at the end of 2013, posting double-digit growth, according to the CoreLogic Case-Shiller Indexes.

The area’s house prices jumped 17.8 percent in the fourth quarter of 2013, compared with the fourth quarter of 2012. CoreLogic also predicts metro Atlanta’s home prices will increase 2.9 percent in the fourth quarter of 2014.

National home prices rose 11.3 percent in the fourth quarter, compared with the fourth quarter of 2012. Home prices nationwide were 20 percent above the trough reached in the fourth quarter of 2011, but remained 21 percent below the peak reached in the first quarter of 2006.


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Panoramic penthouse views from around the globe | Armonk Real Estate


It’s getting more crowded at the top.

Owning a piece of a skyscraper’s top floor — where your closest neighbors have feathers — is the pinnacle of real estate. Penthouses make up less than 1 percent of real estate listings, but their average price a square foot is 84 percent higher than that of similar, nonpenthouse units, according to an analysis by real estate website Zillow.

The word itself will cost you. Simply having the designation of “penthouse” in the listing can result in a sale premium of 5 percent to 10 percent, says Jonathan Miller, a New York City-based appraiser and president of Miller Samuel Inc.

Now, the word “penthouse” is being applied to all sorts of condos — even those on lower floors — and it’s not uncommon to see multiple penthouses stacked on top of one another. Echo Aventura, a new development in Miami by Property Markets Group and JDS Development, will sport 18 penthouse units when it is completed in 2015, and Trump Place at 120 Riverside Blvd. in Manhattan has 44 penthouses.

Here’s a look inside homes around the globe that feel like they’re on top of the world.


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Cute Clinton Hill Townhouse Asks $2.6 Million, and More | Armonk Homes


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↑ First up on the Roundup is this cute little townhouse in Clinton Hill. Built in the 1860s, it has carved marble mantels, ceiling plasterwork, oak flooring, 10-foot ceilings, and exposed beams. There’s also a planted garden. Asking price is $2.599 million.

More townhouses in Boerum Hill, Carroll Gardens, and Park Slope after the jump >>

↑ Up next is this two-building property in Boerum Hill. The lot includes a brick townhouse, a contemporary carriage house, and a very nice landscaped garden. The 1800s townhouse has original wide plank floors, tin ceilings, and marble mantles, while the carriage house has a huge kitchen and three floors of living space. It’s asking $3.3 million.



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Transunion: Mortgage delinquency rate falls to mid-2008 low | Armonk NY Homes


The mortgage delinquency rate has declined more than 24% in the last year, down from 4.76% in Q1 2013, and it is now at the exact same level as it stood in Q2 2008.

“It’s encouraging to see mortgage delinquencies drop once again, especially during a period when mortgage originations slowed considerably,” said Steve Chaouki, head of financial services for TransUnion. “This trend in improved performance is driven in part by lenders working their way through the foreclosure backlog, along with continued conservatism in underwriting new mortgages.”

All 50 states and the District of Columbia experienced declines in their mortgage delinquency rates between Q1 2013 and Q1 2014.

The largest percentage declines continued to occur in states most impacted by the mortgage crisis – Arizona (down 37.8%), California (down 36.9%) and Nevada (down 34.0%). Both Arizona (2.81%) and California (2.80%), which just five years earlier had delinquency rates nearly double the national average, are now significantly lower than the rest of the nation.



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