New luxury housing developments often tout a long list of building amenities in order to lure prospective buyers (or renters): state-of-the-art gyms, roof decks, in-lobby coffee bars, screening rooms, and even extras like pet-washing stations are popping up in multifamily projects across Westchester. But one local developer is taking a different tack. With Locust Rye — an elegant eight-unit community currently under construction on Locust Street — developer Paul Varsames notes, “The amenity driving desirability here is the city of Rye.
“Our residents will be 100 feet away from the Rye YMCA and just blocks from the train station, the library, and all the restaurants and shops on Purchase Street,” he adds. The expected demographic for the project, Varsames explains, is affluent empty nesters who are downsizing from large homes and want to stay active in the community. (The project is not age-restricted, however.) “They’re looking for easy access to socially driven activities. They’ll be at the garden club at the library, doing book club over lunch, or going into the city to see a show,” he notes.
Also part of the appeal is the small, intimate nature of Locust Rye, which Varsames says helps ease the transition to condo life for residents coming from single-family homes. The project’s four buildings will house eight total units, all of which are “flats,” taking up one full floor each. Living space is ample: All residences will have three bedrooms, 2.5 baths, and be between 2,258 and 2,856 square feet. Plus, there will be at least two outdoor spaces and a two-car heated garage. Six of the eight residences will also have a study/office space. Pricing currently ranges from $2,483,800 to $3,241,600 (subject to change), with the bonus of condo tax rates, which are lower than that of single-family homes.
Expect high-end touches, like marble, tile, and ceramic curated from Walker Zanger, hand-painted kitchen cabinets and bathroom vanities, and Wolf and Sub-Zero appliances. Or, buyers can opt to work with the project’s designer to customize interiors to their own tastes.
The first units at Locust Rye will be available in Spring 2021, with a project completion date of Summer 2021.