Wyandanch home values on upswing thanks to revitalization, brokers say
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After more than a decade of planning, Wyandanch Rising -- a $500 million public-private redevelopment initiative in Wyandanch -- is here.
Efforts include developing a downtown along the Straight Path corridor and creating a transportation hub near the Long Island Rail Road station. Phase one is under way, says Jonathan Keyes, director of downtown revitalization for Babylon Town. "Crews are on site, constructing the first of two buildings," Keyes says.
The first building will be five stories with 91 apartments above retail space while the second building will be four stories with 86 apartments above retail space. The first building is scheduled for completion by the end of next year with the second to follow about six months later.
"We will have a public park between the two buildings," Keyes adds, noting the 1-acre landscape will include plantings, pavings and seating areas. An outdoor ice-skating rink also is being considered.
Ira Morley of Century 21 AA Realty predicts Wyandanch will be as popular as the Meatpacking district in Manhattan became after it was revitalized.
The Wyandanch Community Development Corp., an agency offering comprehensive counseling services to those interested in buying or renting a home, has built and rehabilitated rental houses, says executive director Sondra Cochran.
"I'm seeing improvement . . . I'm seeing pride of home ownership," says Liane Heller of RE/MAX Innovators.
Buyers can find a mix of Capes, Colonials and various ranch styles. Lot sizes typically range from 60 by 100 feet to 100 by 100 feet.
SALES PRICE. From July 1, 2012, to Aug. 31, 2013, there were 61 sales with a median price of $95,000, according to Multiple Listing Service of Long Island data. The low was $25,000, and the high was $300,000. From July 1, 2011, to Aug. 31, 2012, there were 50 sales. The median price was $100,000, with a low of $36,500 and a high of $300,000.
ATTRACTIONS. Geiger Lake Memorial Park on Grand Boulevard has a new pavilion.
MORE WYANDACH STATS
Area: 4.4 square miles
ZIP code: 11798
Median age: 29.9
Median household income: $54,527
Median home value: $85,000*
LIRR time to NYC: 49 minutes to 65 minutes at peak
Monthly ticket: $325
School district: Wyandanch
Sources: 2010 Census; mlslI.com; LIRR;
*Based on sales in the past six months, according to MLSLI