Archive for December, 2007

Retirement Condos- North Fork, Long Island Report

December 30th, 2007 category: Real Estate News, Riverhead Real Estate, Southold Real Estate2 Comments »

Best wishes for a healthy and peaceful 2008!

In the interest of those looking for condominiums on the North Fork of Long Island, the following is a market report, with information obtained from MLS Long Island www.mlsli.com. Consult with your real estate agent to confirm figures and receive the most current information. We are in a changing market.

Aquebogue, New York condominium sales Jan. 2007- Dec. 2007 BY COMMUNITY:

Silver Village: 2 sold; average price: $494,000. One 3 bed/2 bath; one 2 bed/3 bath. Common charges for this community are in the $223/month range. There are currently 4 homes available, ranging in price from $365k to $485k.

Baiting Hollow, New York condominium sales Jan.2007-Dec.2007 BY COMMUNITY:

The Bluffs: 5 sold; average price: $409,600. All sold were 2 bed/2bath. Common charges monthly range from $295-314.00. There are currently 12 homes for sale, ranging in price from $299k-479k.

The Knolls: 2 sold; average price: $384,500. Both sold were 2 bed/2 bath. Common charges monthly range from $295-350.00. There are currently 7 homes for sale, ranging in price from $369k-650k.

Calverton, New York condominium sales Jan. 2007- Dec. 2007 BY COMMUNITY:

Windcrest East: 7 sold; average price: $548,400. All sold were 3 bed/3bath. This is a community of independent condominiums- no attached neighbors. Common charges monthly are $211.00. There are currently 4 homes for sale, ranging in price from $589k-619k.

EAST MARION, NEW YORK condominium sales Jan. 2007-Dec.2007 BY COMMUNITY:

Cleaves Point: 3 sold; average price: $840,000. for 2 bed/2.5 bath; $500,000. for 2 bed/1 bath. Common charges range in the mid 500’s monthly. There is currently 1 home for sale in Cleaves Point, offered at $865k.

SOUTHOLD, NEW YORK condominium sales Jan.2007-Dec.2007 BY COMMUNITY:

Founders Village: 5 sold; average price: $374,300.- all have 2 bed/2 bath. Common charges range from $220-240/month. There are currently 2 homes available for $349k, and 345k.

GREENPORT, NEW YORK condominium sales Jan.2007-Dec.2007 BY COMMUNITY:

Sterling Cove: 1 sold; closed price was $699,000. Common charges are in the mid $400’s/month. There are currently no homes for sale.

Pheasant Run: 1 sold; closed price was $350,000. Common charges are approx. $300./month. There is currently 1 home for sale at $429,000.

RIVERHEAD, NEW YORK condominium sales Jan.2007-Dec.2007 BY COMMUNITY:

Mill Pond: 13 sold; closed price averaged $304,500.00. Common charges are approx. $187./month. Closed homes had 2 bed and 1.5-2 baths. There are currently 8 homes for sale, ranging in price from $285,000. to $349,000.

Willow Ponds: 3 sold; closed price averaged $320,000. Common charges are approx. $220-280/month. Closed homes had 2 bed and 1.5-2 baths. There are currently 6 homes for sale, ranging in price from $369,900. to $525,000.

Stoneleigh Woods: there are currently 2 homes for sale, priced at $365k and $375k. Common charges are approx. $250/month. The home has 2 bed/2.5 baths.

Sunken Pond: 5 homes sold; closed price averaged $361,700. Common charges are approx. $260/month. Homes sold had 2 bed/2-2.5 baths. There are currently 3 homes for sale, priced from $350k-410k.

Saddle Lakes: 4 homes sold; closed price averaged $459,500. Common charges are approx. $280./month. There is currently 1 home for sale, priced at $395k.

We’d love to help you with your second home/retirement plans. Contact us: stark@optionsrealty, or call 631-727-2227 for additional information on all retirement/second home possibilities on the North Fork!

If you are thinking about selling a condo in the North Fork, we’d love to talk with you. We have interested clients seeking condominium living- let’s talk! Contact laurie@optionsrealty.com, or call 631-727-2227.

HAVE A SAFE AND HAPPY 2008!

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Apollo Falling?

December 16th, 2007 category: Downtown Riverhead, North Fork Neighborhoods, Real Estate Philosophy, Riverhead Real Estate1 Comment »

Condemnation possibilities were announced this past week in Riverhead.

The previous post on this topic has developed into an extended situation that can only now become more stagnant than ever. The Supervisor of Riverhead, Phil Cardinale, received a request from Apollo’s Vice President to begin condemnation procedures.

With this news the continuation of a long, protracted process for revitalization, in this authors opinion, is likely. The lawsuit that Riverhead Enterprises would file could take years to settle. Those types of stops in the condemnation process place the advancement for a reborn downtown into a holding pattern.

John Stefans in his article Apollo offer is rejected, closes his article with a glimmer of hope on the horizon, the possibility of arbitration to come up with a fair price agreeable to both parties.

“Condemnation through eminent domain of seven buildings in downtown Riverhead became more of a possibility Friday when Riverhead Enterprises, owner of the properties, formally rejected an offer by Apollo Real Estate Advisors to purchase them for its sweeping urban renewal project on the south side of West Main Street…Mr. Cardinale said Tuesday he hopes condemnation can be avoided and said he plans to ask both sides to agree to a mutually acceptable third-party arbitrator to arrive at a fair price.”

Was there anything unfair about the Apollo offer that was on the table? More information is needed. I wouldn’t be surprised if Sheldon Gordon and Riverhead Enterprises have an agenda that I do not yet have information on. “Going away” is not something that should be expected of this contingent.

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SHOPPING ON THE NORTH FORK OF LONG ISLAND

December 16th, 2007 category: North Fork Neighborhoods1 Comment »

With just a few weeks to do holiday shopping, the motivation kicked in, and I headed to the Tanger Outlet in Riverhead, New York. The home of such fabulous outlet stores such as Coach, Ralph Lauren, J Crew, Ann Taylor, and a host of others, it seemed the logical gift-giving locale.

For some items, it worked. For other more unique items, however, I found myself delighted with the Greenport, New York opportunities.

Greenport, having experienced its own magical rejuvenation, offers gifts that TALK. I don’t mean whisper- I mean figuratively reach out and scream, “I’M THE ONE”! While Tanger offers great buys on quality merchandise, it is (perhaps due to the onslaught of catalogues this time of year) somewhat generic. Or, perhaps I just arrived late, but the items seemed…ordinary.

Greenport, however, has some time tested go-to’s that really cut down on shopping time- I can count on these stores to have gifts that are special.

My favorite store in Greenport is Island Silk. Located in the heart of the shopping district, Island Silk offers quality in basics (turtlenecks, pants) but always carries a large offering of fresh, unique clothing- that well located ruffle on the sweater, or fur adorning the cuffs. Just…COOL STUFF. My sister (who is impeccable) and my mother (a bit more bohemian)- CHECK. Mission accomplished with a black capelet with fur that is just ADORABLE, and a warm cotton sweater with fringe. Twenty minutes, and I’d searched for hours at Tanger.

A little store across the street called the Bayview Shoppe provided the PERFECT cotton place-mats, napkins, and table runner for another family member. They recently redid their kitchen, and in the spirit of quality, this store offers unusual and lovely table adornments, as well as clothing- already accomplished . Another twenty minute CHECK.

For the Irishman in my life, a shop called CURRANS IRISH SHOP has a number of authentic irish sweaters, coats, hats, and socks- you know the kind. You can just tell that this is the real, Irish “stuff”. This took a bit longer, because I wanted to add a few accessory items (as well as try on a few of the coats myself- hey, I can play, too). In addition to clothing, they offer jewelry and home items for people that love the Irish, and who doesn’t? Bono was playing as I did my shopping.

There is actually, in Greenport, a REAL kids toy shop on Main Street. This toy shop does NOT carry videos or tech stuff. Nope- just TOYS. Lionel trains, puzzles, kites, bubble guns, stuffed animals, games- you know, stuff that WE used to get. I remember my friend, Kim, having loads of toy horses- you know, the ones that look like real horses and are plastic, with accessories like a saddle- that type of item is carried here. In my opinion, the GOOD stuff! Check, check, check and check (for the little nieces and nephews. The older kids are Tanger and Riverhead kids).

Finally, our neighbor. Gladys keeps watch over our dogs. What more to say? When we first moved to Southold, we didn’t realize that the deer were RIGHT THERE- with an unfenced yard, it took a while- OK- it took a FENCE- to force them to stay in the yard. They saw the deer well before I did, and by the time I’d turn back to look at them, they’d be GONE. Our dogs give Gladys a little token of their owners appreciation, but it has to be YUMMY. Sweet Indulgences has it- a special way to say thank you for what it, in reality, a REALLY BIG thank you. She lets us know, when we deliver the gift from the dogs each year, that we “spoil her”- nah. She spoils us every time we leave the house and know that there is an “eye out.”

All of this shopping, accomplished in no time. In a shopping area that, while small, INSISTS on a calm and enjoyable experience- did I mention that I had lunch looking at the water?

If you’re looking to move to the North Fork of Long Island, we’d love to help you with that shopping excursion!

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Snags & Thorns on Main Street Riverhead

December 8th, 2007 category: Downtown Riverhead, Real Estate News, Riverhead Real Estate3 Comments »

John Steffans @ The News Review reported this week that more snags continue to tear into the progress of major revitalization in downtown Riverhead. Riverhead Enterprises (Sheldon Gordon) and Apollo Real Estate Advisors (Richard Mack), Deadlines have loomed before. Click here for the article.

The interesting part of this story to me is how Supervisor Phil Cardinale and the newly elected members of the town council will proceed and intervene. Let’s hope that, for the health of Historic Downtown Riverhead, the Supervisor and Board make decisions based on the growth and revitalization of Downtown.

In the Letter To the Editor section of the aforementioned paper, Marty Stromsten writes…
“It is time for the Town of Riverhead to take back the Suffolk Theatre and revisit the original plan for a cultural arts center that was approved by the Town Board a number of years ago. Something needs to be done to stop the exiting of so many small businesses in the village. Taking the Suffolk Theatre back would be a small price to pay for bring Riverhead back to life.”

 

When referring to the reverter clause in the agreement that the town has with the owner of The Suffolk Theatre, the author’s impatience and frustration derives from the lack of visible improvements in the downtown area of East Main Street inRiverhead. In my opinion, it would be a mistake for the town to act on this reverter clause. That action will only move to dissuade potential commercial investors from coming to Riverhead.

DECISIONS are going to have BE IMPLEMENTED in order to up the pace in this race to save Downtown Riverhead. The longer that the semi-abandoned buildings stand, and crime continues in the area of East Main St., the more obvious the battle to investors and potential homeowners to invest in RIVERHEAD.

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