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Friday, October 7, 2022
Home Real Estate WSJ Profiles Rye

WSJ Profiles Rye

Recently, The Wall Street Journal profiled Rye, NY as a place to live:

"For the deep-pocketed buyer with a checklist, Rye, in southern Westchester, just might be the city that has everything.

Commute? The train ride to New York City is well under an hour. Waterfront? The community borders the Long Island Sound.

Its schools are highly regarded. The quaint downtown, with its diverse mix of shops and restaurants, evokes a New England village…

Rye's desirability is reflected in its prices. Co-operative apartments within the city may sell for as little as $150,000, but single-family homes generally start around $600,000 and soar well into the millions. According to data compiled by Houlihan Lawrence, the median sale price of houses in the Rye city school district in the year ended in April was $1,547,500, a 23% increase over the previous 12-month period."

The article quotes Fiona Dogan of Julia B. Fee Sotheby's International Realty and Joan O'Meara of Houlihan Lawrence.

  1. While a reasonable amount of family-purposed residential expansion and new construction is inevitable, it is necessary to maintain a balance between households that are heavy users of the Rye City schools and households that are not. Otherwise, taxes and average class size may reach $45,000 per home and 66 students respectively.

    (Source: http://zoningplan.org )


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