Garden City homes prices beating the bust
The Garden City green with gazebo at Stewart and Hilton avenues. The community is one of six on Long Island where home prices have weathered the economic downturn. (July 9, 2011) Credit: Newsday / Karen Wiles Stabile
Why is it beating the bust? "Quality," says resident Bob Krener, owner of Taylor Warner Realty, noting the village offers a fine educational system, terrific recreational facilities as well as a quick commute into Manhattan. The village has sustained its desirability over the last 50 to 70 years, Krener adds.
What the numbers show. According to recent data from Multiple Listing Service of Long Island, there were 201 sales from May 2010 to June 27, 2011, with a median price of $770,000. The low price was $325,000, and the high was $4,999,000. From April 2009 to April 2010, there were 172 sales, with a median price of $740,000. The low was $400,000, and the high was $2,875,000.
The scoop. Elegance and community-minded residents are what you will find here, say local agents. "There's a sense of caring about your neighbors and your neighbors' children," says Mary Weille of Coach Realtors Fennessy Associates.
The village's ambience is punctuated by wide avenues, tree-lined streets, a shopping district and upscale neighborhoods. Architectural styles include Colonials, Tudors, capes, ranches and split-levels.
A new three-story building on the corner of Seventh Street and Franklin Avenue comprising retail and 14 residential units is almost complete, says Michael Filippon, superintendent of the village's building department.
A proposed 54-unit residential three-story building at 301 Franklin Ave. is in the early stages of pre-approval.
Attractions. A community pool, five village parks, a senior recreation center, three private golf courses and the well-known Garden City Hotel.
Famous residents. Soap star Susan Lucci and author Nelson DeMille live here. Telly Savalas was born in Garden City.
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OTHER STATS
Town Hempstead
Area 5.3 square miles
ZIP code 11530*
Population 22,418
Median age 40.8
Median household income $135,313
Median home value $777,500**
LIRR time to NYC 42 minutes to 50 minutes at peak
Monthly ticket $223
School district Garden City
SOURCES: Census estimates; mlsli.com; Long Island Rail Road;
*Includes Garden City South, Stewart Manor
**Based on sales in the past six months according to Multiple Listing Service of Long Island
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