Buying in 'hidden gem' Greenvale

For those looking to buy in Greenvale, this For those looking to buy in Greenvale, this is on the market in April 2014 for $749,000. Photo Credit: Jacobs Realty

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When Nicholas Jacobs tells people he lives in Greenvale, many ask where the community is. "They think I live in Suffolk," he muses. "It's a small area" in Nassau County, adds Jacobs, broker-owner of Jacobs Realty.

"Greenvale is a hidden gem," adds John Schoonmaker of Laffey Fine Homes International. Straddling the towns of North Hempstead and Oyster Bay, the compact hamlet falls within two school districts -- Roslyn and North Shore -- plus the location offers easy access to the Long Island Expressway and Northern Boulevard, Schoonmaker notes.

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Perhaps Greenvale is best known as a vibrant commercial hub, with Northern Boulevard and Glen Cove Road serving as its nexus. The area is dotted with shops, services and eateries, including those at Wheatley Plaza and The Shoppes at Greenvale. "It's a mini-metropolis," Schoonmaker says.

Traffic is a "real hot'' issue, with cars cutting through Helen, Cedar and Marion streets to avoid congestion along Glen Cove Road, says John Fabio, president of the Greenvale Civic Association. The civic group, Fabio says, has been working with both towns for a remedy. North Hemptead Town hired traffic consultant AKRF, which is expected to present recommendations in a couple of weeks.

Still, traffic doesn't seem to chase residents away, as the market here experiences low turnover, says Schoonmaker.

So what can a buyer find? Mostly, a mix of ranch styles, Capes and Colonials on parcels that range from about 50 by 90 feet to about a third of an acre.

SALES PRICES. Numbers are on the rise, but the sample size is small, according to Multiple Listing Service of Long Island data. From March 1, 2013, to March 31, 2014, there were 10 sales with a median price of $537,500, according to MLSLI data. The low price was $402,000, and the high was $692,000. From March 1, 2012, to March 31, 2013, there were four sales. The median price was $377,500, with a low of $170,000 and a high of $440,000.

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ATTRACTIONS. Tilles Center at LIU Post is nearby, as are the Nassau County Museum of Art and the William Cullen Bryant Preserve.

MORE GREENVALE STATS

Towns: North Hempstead and Oyster Bay

Area: 4.7 square miles

ZIP code: 11548

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Population: 1,094

Median age: 41.1

Median household income: $92,000

Median home value: $557,500*

LIRR time to NYC: 51 minutes to 58 minutes at peak

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Monthly ticket: $276

School districts: Roslyn and North Shore

Sources: 2010 Census; mlsli.com; LIRR;

*Based on six sales in the past six months, according to MLSLI

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