Ryan Serhant is taking a hike upstate.
NevelHaus, a home building platform, is launching its second collection of homes on 44 acres, which the firm just closed on in Stone Ridge, NY. Co-founded in 2020 by Joshua Gelb and Pelle Hamburger, the firm has tapped Serhant’s eponymous brokerage along with the Upstate Curious Team of Keller Williams Realty Hudson Valley North.
The project marks the first time Serhant is selling new construction homes and its first foray into the upstate market.
“What’s unique about this property is that these are very well-priced homes, they have a considerable amount of land, it’s in a beautiful area,” Serhant said. “And they are so visually stunning, these properties, not just the landscape, but the houses themselves.”
The eco-friendly three-bedroom homes are priced from $1.625 million. There will be a total of eight houses in the community, with each one surrounded by three to nine acres of land.
NevelHaus is partnering with INC Architecture & Design — responsible for the design of hospitality and residential properties in the New York area such as 1 Hotel Brooklyn Bridge and the TWA Hotel — to design and develop the ground-up homes.
The customizable three-bedroom, two-and-a-half bath homes feature 30-foot vaulted ceilings, over 925 square feet of entertainment space, 9-inch wide-plank European white oak flooring, a wood-burning stove, custom oak cabinetry with integrated appliances, bathrooms with heated radiant flooring, a reading nook and office, outdoor terraces and an outdoor shower. Optional elements for buyers include an in-ground pool, garage or studio, carport, whole house generator and solar panels.
The timeline from purchase to move-in is typically eight to 10 months.
“Up until now, the company has been buying choice pieces of land in various towns in Sullivan County, for the most part,” Gelb said. “The whole time we were looking for an opportunity to really do a branded, cohesive, well thought out community where we can really put our design aesthetic and then embark on it.”
Gelb said he previously worked with Serhant on a project, inspiring him to bring on his team for the Stone Ridge project.
“What he’s doing with his new brokerage was just very exciting and we wanted to bring him in,” Gelb said.
Meanwhile, the Upstate Curious team will be the “boots on the ground.”
“They’re really very well established, have a great social media presence for Catskills and the Hudson Valley,” Gelb said.
Serhant’s marketing strategy for the property will be largely through video and social media, while the Upstate Curious team will additionally be reaching out directly to agents and buyers, along with advertising in local upstate publications.
The upstate market has seen an explosion of demand in recent years, as buyers search for secondary homes. In 2022, inventory dropped to 385 from 732 in 2021, according to a report by the Ulster County Board of Realtors.
Eight homes is “not an unsubstantial number of new homes to be added, given the number for sale. But, it’s not enough,” said Megan Brenn-White, founder of the Upstate Curious Team.
Brenn-White also noted the community’s location near restaurants, hiking trails and skiing.
“I think it’s going to be a really big deal for our market, because I think that it’s hard for any developer to find land like this … where they can launch something that can help to meet market demand relatively quickly,” Brenn-White said.