The Scarsdale Board of Trustees are in discussion about two lawsuits that have been filed pertaining to Scarsdale real estate. The first involves the original home on the former Marx Estate at 15 Gatehouse Road, now owned by Anthony Scarcella. The mansion was built in 1904 and has nine fireplaces and 14 bathrooms. The property was owned by Louis Marx, sometimes called “The Toy King of America,” who died in 1982 at the age of 85. Upon Marx’s death, Anthony Scarcella, a New Rochelle developer, bought the original estate and subdivided the property to build 29 homes on the land.  He built the development and in 1985 he sold the large brick mansion and 1.75 acres of property to Alexander Raydon, who kept it until October 2007.  When Raydon died, Scarcella re-purchased the house, for $2,500,000, which was more than the sale price of the entire estate in 1982. Scarcella then attempted to gain approval to tear down the mansion and build three more new homes on the property. However, this time he received far more resistance from the Board of Architectural Review and ultimately the Scarsdale Board of Trustees.  He was denied a demolition permit to tear down the home because it was found to be a structure of substantial historic importance.  The Village found that the mansion met three of the four criteria for preservation and that its demolition would be detrimental to the public interest.

Unhappy with that decision, Scarcella spent the next three years trying to appeal it. In June, 2009, the case was heard in State Supreme Court and Scarcella challenged the Village on two counts: one for denying him the certificate of appropriateness to demolish the home and another for their rejection of his plea of hardship.  At that time, Judge Rory Bellantoni returned the case to the Village and ordered the Scarsdale Board of Trustees to hold a de novo hearing on the hardship issue only.

Rather than return to Village Hall for the hearing, Scarcella spent two years challenging the de novo order, but his request to appeal to the Appelate Division and the Court of Appeals were rejected. Now, two and a half years later, having exhausted all avenues for appeal, Scarcella has filed a request for a de novo hearing on the hardship claim.

He contends that for a multitude of reasons he cannot make a reasonable return by renovating and selling the home:

Among his claims are:

• It is structurally unsound and the building is not stable
• It has been on the market for years and he has not received a reasonable offer
• No one is interested in buying it and preserving it or for another use
• The cost of renovations are excessive

The Scarsdale Board of Trustees and the Village Attorney are now evaluating the data Scarcella has provided and doing due diligence on the matter.

Boulder Brook Riding Academy

In addition, the Board is considering a matter involving the Boulder Brook Riding Academy on Mamaroneck Road.  The current owners of the property, 291 Mamaroneck Road Realty, are seeking to declare certain restrictive covenants on the property null and void to allow them to modernize the stables and improve the property. At the time they purchased the property the deed restricted use to an equestrian facility and named a “strike price” or a value for the property at that time.  According to the deed, if the covenant was breached, the Village could repurchase the property at that value.

Since that time, real estate values have escalated dramatically. The property owners wish to borrow funds to improve the property, but the reduced “strike price” is preventing them from getting financing.  Therefore, the Village is in negotiation with the owners to alter the deed, while still reserving the right of first refusal if the current owners ever wish to sell the property.

The current owners will continue to lease the property to the riding academy.  Though the Boulder Brook property is in a residential zone, it cannot be developed for residential homes because it has no street frontage.

Featured Listing: 27 Cooper Road
Total elegance and exquisite charm radiate from every room in this beautiful home. Situated on 1.57 acres in the heart of Murray Hill Estate Area..this home has it all. High ceilings, leaded glass doors, oak floors, paneled foyer, 3 fireplaces,a heated pool,a two story pool house and stellar landscaping. Luxury and warmth are evident in every detail of this Scarsdale gem...a truly spectacular residence. List Price: $5,690,000 Learn more here.




Featured Listing: 2 Campden Road
Located in the heart of Cotswold this premier Tudor boasts incomparable beauty, quality and size, classic proportions and exquisite architectural detail. Exquisite appointments include extra large granite cook's kitchen, leaded and stained glass windows, stunning master suite, four fireplaces and professional landscaping. List Price: $2,999,999. Learn more here.

Since we lasted reported on area home sales before Christmas, there has been a flurry of activity in both Scarsdale and Edgemont. Perhaps buyers have been spurred by low mortgage rates that are below 4%. Here are this month’s sales:

2 Lakin Road: Set on more than two acres of quiet, private and pristine property in Murray Hill estate area, this center hall colonial offers 7000+ square feet of living space. Features dramatic step-down living room, spacious dining room, library, romantic master bedroom with fireplace, charming porches and open kitchen with large eating area and family room. Shoreline pool with jacuzzi. Home boasts architectural moldings, solid plaster walls, multi-zone central air, 3-car garage, security alarm and generator. Exercise room, large playroom and maids room with bath.

Sale Price: $2,450,000
Real Estate Taxes: $73,549

20 Hadden Road, Edgemont: Sophisticated and stunning 1920's Cotswold tudor, meticulously restored to its original beauty and brilliantly updated for today's modern living. 6 bedrooms/4.1 baths. Sweeping circular driveway. Dramatic foyer welcomes visitors with curved staircase, soaring ceilings, archways, intricate leaded glasswork and romantic Old World details. Expansive Living Room with fireplace, formal Dining Room and stunning Gourmet Eat-in-Kitchen. Family Room overlooks pool and gardens.

Sale Price: $1,660,000
Real Estate Taxes: $36,115

7 Campden Road, Edgemont: Cotswold Norman Tudor location nestled on a secluded street within close proximity to train and schools. Filled with sunlight, completely rejuvenated for modern living, featuring classic old world details including dramatic leaded windows and hardwood floors blended perfectly with luxurious amenities such as an expansive modern eat in kitchen with a fabulous adjoining family room. Flat yard with stone patio and hot tub.

Sale Price: $1,550,000
Real Estate Taxes: $32,861

17 Church Lane: Collet built Colonial in the desirable Crane Berkeley section of Scarsdale. Exquisite architectural details. This home has four family bedrooms and 3 1/2 new baths, new kitchen with granite counter tops and tumbled marble backsplash. Six minute walk to Scarsdale train and shops.

Sale Price: $1,295,000
Real Estate Taxes: $38,716

110 Fox Meadow Road: Three Bedroom Ranch set back on almost 1/2 acre in Fox Meadow. Great Space with incredible potential; Formal living room and family room with fireplace and hardwood floors throughout. Level back yard with slate patio offer wonderful privacy.

Sale Price: $1,050,000
Real Estate Taxes: $30,739

95 Edgemont Road: Classic Old Edgemont Colonial completely renovated with great quality. Sun-filled, spacious and airy home with custom Borano front door, beautiful arched doorways, stately crown moldings and hardwood floors, Living room with fireplace, Family Room, Formal Dining Room and Eat In Kitchen with granite countertops that opens onto backyard patio. Finished heated basement with bedroom/recreation room and door to outside yard.

Sale Price: $900,000
Real Estate Taxes: $23,507

23 Fox Meadow Road: Quality built No Step Ranch with stone exterior and slate roof. This charming Fox Meadow home is conveniently located on .65 acre. With 3 bedrooms, 3 baths and a large private yard, this comfortable home is close to Scarsdale Village, shops, restaurants and train.

Sale Price: $887,500
Real Estate Taxes: $29,776

276 Old Army Road: Country manor living in the heart of Old Edgemont. Elegant brick Colonial with premium upgrades. Fine architectural details, hardwood floors, crown molding, newly painted, new Marvin windows, all baths fully renovated, New gourmet kitchen with custom cherry cabinets, granite, quality designer appliances including Sub Zero refrigerator. Walkout lower level with 500+ square feet of comfortable space including guest or au pair suite. Private grounds.

Sale Price: $935,000
Real Estate Taxes: $25,589

4 Colonial Road: Lovely, level.45 acre in Colonial Acres close to pool, golf, tennis and playground. Expanded ranch with building potential. Invisible fence. Fabulous family room and master suite. Taxes being grieved. New roof.

Sale Price: $875,00
Real Estate Taxes: $21,787

141 Johnson Road: Lots of charm and brightness plus the quality of plaster walls and hardwood floors throughout. This newly painted four-bedroom colonial on a quiet Scarsdale street boasts central A/C and updated windows throughout.

Sale Price: $575,000
Real Estate Taxes: $12,926

---------------------------------------------------------------------------------------------------------------------------------

Featured Listing: 15 Secor Road
New construction:6 BR/ 4.5 BTH stone and shingle, 5,500 square foot center hall Colonial. Now ready. Close to schools, playground, shops and transportation. Nine foot ceilings on first and second floors. Includes library, family room with fireplace, luxury kitchen, breakfast room with doors to large deck and a laundry room near the back stairs. Five generous bedrooms on second floor with lots of closet space.  Grand master suite with two walk-in closets and luxury bath.Finished lower level with media room, playroom, maids room and bath.
List Price: $2,495,000. Learn more here:

Featured Listing: 34 Hadden Road
Exquisite four bedroom english country residence situated in sought after Cotswold. Elegant living room with fireplace, new kitchen with breakfast area, spacious family room with built ins plus screened porch and patio. Four gracious bedrooms. Walk to village and school.
List Price: $2,295,000. Learn more here:

Tracy Isaacs, an associate broker in Coldwell Banker’s Scarsdale office recently completed the sale of Holly Hill, the country estate of the late Brooke Astor. Astor was a prominent philanthropist and socialite who was often referred to as the Queen of New York. She died in 2007 at the age of 105. The selling price of the estate was $6,450,000 and Isaacs represented the buyer in the transaction.

The 64.5-acre estate in Briarcliff Manor features a spacious 1927 stone mansion that overlooks formal English gardens and lush green lawns. The 10,888-square-foot home, designed by noted architect William Adams Delano, includes 13 bedrooms, 9 full bathrooms, two half bathrooms, six marble fireplaces and indoor and outdoor pools.

The home has an elegant marble foyer, 42-foot-long parquet-floored drawing room, a sunroom, and a beautiful library. Other rooms include the photograph-covered Memory Room; the Cardinal's Room with telegrams from the Vatican on the wall and a huge master suite.

Additional property features include a four-bedroom gardener's cottage, a chauffeur's apartment atop a five-bay carriage house, an ancient pump house, barn with a three-car garage, a small museum, greenhouse, root cellar, pet cemetery, cutting gardens and something called the Love Temple.

According to Isaacs, “This is truly a magnificent estate and it has been my honor to represent my buyer-clients in this transaction. My clients appreciate the unique opportunity of owning this exceptional property. I know they will be very happy in this extraordinary home.”

Isaacs is a top-producing associate broker who has consistently been recognized over the years with the following awards: Coldwell Banker International President’s Circle, Coldwell Banker® International Diamond Society, and Coldwell Banker International Sterling Society. These distinguished honors have put Isaacs in the top tier of approximately 90,000 sales associates worldwide in the Coldwell Banker® system. Tracy attributes her sales success to her follow up skills, determination and enthusiasm. A savvy communicator and tough negotiator she always works hard on behalf of her clients and posses an intimate knowledge of the local real estate market.

Tracy and her husband have been residents of Westchester since 1998. She is the proud mother of boy/girl twins. As a parent, she is very active in the local schools whether chairing fundraising committees or running district wide programs. Philanthropically, Tracy is a member of the committee for the Wines of the World event that raises money for the Maria Ferrari Children’s Hospital at Westchester Medical Center.

“This notable sale is a reflection of Tracy’s skills and dedication to her clients,” said Linda Roth, managing broker of the Coldwell Banker Residential Brokerage Scarsdale office, which has been recognized as a top office nationally, regionally and locally. “This is a significant achievement for Tracy, and we are so proud that she is a part of the Coldwell Banker team.”

Brooke Astor

Tracy Isaacs

Cell: 914 462-1027
Office: 914 723-3340 X 333
This e-mail address is being protected from spambots. You need JavaScript enabled to view it
www.TracyIsaacs.com

------------------------------------------------------------------------------------------------------------------------------------

Featured Listing: 71 Round Hill Road
Country Colonial with inviting front porch welcomes you into this special home. Elegant family room with fireplace, built-ins and door to deck, leads into the new kitchen with generous work, storage and dining areas, top-of-the-line appliances, granite counters and mudroom. Luxury master suite with office. Edgemont. List Price: $1,595,000.  Learn more here :    

Featured Listing: 19 Innes Road
Elegant and impeccable five bedroom Colonial on tranquil half acre with in-ground Gunite pool with new retractable pool cover. Finely appointed living room and dining room. Renovated kitchen/family room addition with French door to patio and pool, first floor bedroom/bath. Master suite with marble bath, large lower level playroom. Exquisitely appointed throughout. List Price: $1,795,000. Learn more here:

Scarsdale residential real estate sales held steady in 2011 from the prior year for single-family homes, condominiums and cooperatives which was good news for buyers and sellers. Edgemont real estate sales volume declined 25% from the comparable period accompanied with price decreases of single-family homes.

Market indictors in Scarsdale illustrate a consistently competitive market for both buyers and sellers and a desire to maintain or increase sale pricing and volume. Overall sales volume was slightly up in 2011 as was the average price for a single family home. Mixed sales results in Edgemont are indicative of a buyer’s market opportunity at the moment due to decreasing prices and lower demand.

Mark Nadler, President and Principal Broker of Prudential Centennial Realty, said “Buyers seem to be finally hearing what all the “experts” have been saying for at least the last year, “There has never been a better time to buy real estate.” As consumer confidence rises, we eagerly anticipate the spring market and swell of listings and buyers that appear to pursue them. Navigating through complex market conditions requires skill and experience and choosing the Realtor to represent you becomes the most important decision affecting the sale or purchase of your home or investment.”

Mitchell Steinberg, a 25-year veteran of the residential mortgage business, is equally optimistic about the overall 2012 real estate market. “Economists predict that interest rates will be low for at least another 18 months. This allows purchasers of primary, vacation and investment residences to lock in historic low rates and have significantly more purchasing power than prior years. 30 year jumbo fixed rates are in the low 4% range up to 2 million dollars. The U.S. government also increased the FHA loan limits in the NY Metro area. Homebuyers for primary residences can finance up to 96.5% of the value of the residence up to a loan amount of $729,750.”

Scarsdale Sales Stats

14 Oak Way Sold $1,460,000

• In total, 199 single-family homes sold in the Scarsdale school district in 2011 remaining consistent with the prior year.
• The number of homes sold by neighborhood was highest in Heathcote (49). However, Greenacres (45) and Fox Meadow (43) saw the biggest increases in number of homes sold over the prior year. Edgewood (36) had a slight drop in number of homes sold and Quaker Ridge (26) had the largest decrease from 2010.
• The average selling price rose 3% in 2011 ($1,485,872) from 2010 ($1,442,018) for a 5 bedroom/4 bath home. The average Days on Market (DOM) at 177 is slightly less than the DOM in 2010.
• The minimum selling price was $320,000 for a short sale 1922 cottage, 2 bedroom/1 bath on 0.192 acres, in Quaker Ridge. The maximum selling price was $10,884,000 for a 2006 Heathcote Estate, 7 bedroom/6.3 baths with pool and tennis court on 2.540 acres. 42 properties, or 21%, sold for $2,000,000 and above, a 3% gain over the corresponding period last year. 88 properties, or 44%, sold in the range of $1,000,000 - $2,000,000. 69 properties, or 35%, sold below $1,000,000 with volume consistent from the comparable period last year.
• Condominium sales at Christie Place in downtown Scarsdale were robust with eight transactions and the building is sold to capacity with the exception of a one bedroom coming on the market shortly, according to Doug Smolev, Director Sales & Marketing, Ginsburg Development Companies. He said “we had an amazing first half 2011 with a huge increase in demand as the market picked up and we could have started a wait list but we sold out.”
• Cooperatives sales at Chateaux Circle remained steady year to year.

Home values going forward will also be affected by the tax revaluation process, adopted by Scarsdale village board resolution in 2011, committing to a reassessment of all properties at market value. A request for proposals seeks a March 2012 start, affecting the 2014 tax rolls and 2015 budget. The last comprehensive revaluation in Scarsdale was in 1969.

Edgemont Sales Stats

260 Beverly Road Sold $925,000

• The total number of single-family homes sold in the Edgemont school district decreased by 21% in 2011. 49 homes sold in 2011 versus 62 in 2010.
• Sales were highest in Greenville (28) followed by Seely Place (21).
• The average sale price fell 18.2% in 2011 ($1,039,000) from 2010 ($1,270,875) for a 4 bedroom/4 bath home. The average Days on Market (DOM) at 186 is consistent with the prior year.
• The minimum selling price was $375,000 for a tear-down 1962 raised ranch, 5 bedroom/2.1 bath on 0.41 acres. The maximum selling price was $3,000,000 for a 1997 colonial estate, 7 bedroom/8.2 baths with pool on 2.857 acres.
• 3 properties, or 7%, sold above $2,000,000 as compared with 7 properties, or 11% of sales, in 2010. 18 properties, or 37%, sold in the range of $1,000,000 to $2,000,000 as compared with 45% of properties in 2010. 27 properties, or 56%, sold below $1,000,000 with volume in this price consistent from the comparable period last year.
• The average cooperative sale price for 2 bedroom/1.5 baths was $237,711 consistent with 2010. However, total sales volume for sold cooperatives decreased 41%. Sales of condominiums were consistent year to year.

Information provided by Angela Manson, licensed real estate salesperson with Prudential Centennial, Scarsdale. Manson volunteers with local civic organizations and often writes about the community. She welcomes and assists buyers and sellers in Scarsdale and neighboring communities at This e-mail address is being protected from spambots. You need JavaScript enabled to view it or 914-420-9878, www.scarsdalebesthomes.com. Statistical information gathered from Empire Access Multiple Listing Service.

Mitchell Steinberg, private mortgage banker, may be reached at 914-251-8141 or This e-mail address is being protected from spambots. You need JavaScript enabled to view it .

Pictured at top: 2 Normandy Lane, Scarsdale, sold for $5,250,000 on 5/24/11

-----------------------------------------------------------------------------------------------------------------------------------------------------------------

Featured Listing: 331 Old Colony Road
Set on .40 acre, this lovely four bedroom Ranch offers many upgrades including new roof, boiler and sprinkler system. Highlights include a kitchen with skylight and breakfast area that adjoins with the family room offering cathedral ceiling and access to the decks and yard. Finished 1400 square foot lower level. List Price: $849,000
Learn more here:

Featured Listing: 20 Taunton Road East
Nestled on a cul-de-sac, this Crane Berkley home is the epitome of classic elegance. Exquisite features include a two-story grand stairway, three fireplaces and granite chef's kitchen with professional appointments. List Price: $1,600,000
Learn more here: