Around Long Island

A look at the residential real estate markets in noteworthy towns</br> outside the Hamptons

From left: 77 Pickwick Road in Manhasset and 51 Broadway in Rockville Centre
From left: 77 Pickwick Road in Manhasset and 51 Broadway in Rockville Centre

Great Neck

Perhaps best-known as the setting for Gatsby’s mansion in “The Great Gatsby,” Great Neck commonly refers to a bedroom community of nine villages and several unincorporated communities. But it can also specifically mean the venerable 1.4 -square-mile Village of Great Neck, sometimes called “the old village.” 

In both cases, it’s an affluent area with an easy commute, highly-rated schools and plenty of parks and restaurants.

Recently, the biggest influx of new residents has been from Asia, according to Mona Kremin, associate broker and branch manager of the Douglas Elliman Great Neck office.

“They used to move from Flushing and Bayside, “ she said. “Now they’re coming directly from overseas.”

Average home prices are at about $1.4 million year to date, an increase of 6.5 percent over prices in 2013.

Population: 40,000
Median household income: $134,401
Land area: 11.4 square miles

Long Beach

This beach community, hit hard by Hurricane Sandy, is now attracting more second home buyers than ever before, most of them from Manhattan and Brooklyn, according to Alex Rubin, an associate broker with Douglas Elliman in Long Beach.

“The storm was a terrible tragedy, but a lot of people discovered the community because of all the media coverage,” Rubin said.

He also sees a significant number of homeowners knocking down their storm-ravaged bungalows and replacing them with larger homes.

An obvious attraction of Long Beach is the easy commute to New York City — a 55-minute train ride — and prices that are considerably more affordable than the Hamptons.

Average residential home prices have weathered the storm, although they haven’t reached pre-recession levels. Year to date, the average is $519,384 compared to $401,834 in 2013 and $568,608 in 2006, according
to Rubin.

Population: 33,552
Median household income: $78,460
Land area: 2.14 square miles

Garden City

Just a 30-minute commute to New York City, the central Nassau County village of Garden City is a tidy, affluent suburb that attracts a lot of professionals including money managers, attorneys and corporate executives, according to John Martin, branch manager of the Douglas Elliman Real Estate office there.

Right next door in East Garden City is Roosevelt Field, the second-largest full price shopping mall in the state.

Average residential sales prices have been fairly consistent since before the meltdown, though they still haven’t quite hit pre-crash heights. 

For 2015, year to date, home prices averaged $967,163 compared to $955,197 in 2013 and $994,198 in 2006, according to Martin.

“Over the last six months or so, Garden City, as well as other similar towns, are experiencing low inventory, which is keeping the numbers high and generating multiple offers on many properties,” he said.

From left: 55 Longfellow Road in Great Neck and 160 Oxford Boulevard in Garden City

From left: 55 Longfellow Road in Great Neck and 160 Oxford Boulevard in Garden City

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Population: 22,352
Median household income: $135,658
Land area: 5.34 square miles       

Old Westbury

It’s been called the second richest town in America and New York’s most expensive suburb. Forbes recently found the average net worth of Old Westbury households to be $19.6 million.

The area is also famous for being home to the likes of the Vanderbilts, Whitneys, Winthrops and Huttons, to name a few of the gilded families who settled there. Many of their original mansions still stand today.

Another high-end feature of Old Westbury: Any property subdivided since 1987 must have a minimum of four acres, according to Andrea Spitalnick, a broker with Coldwell Banker Residential Brokerage in Roslyn Heights.

Average residential sale prices indicate that Old Westbury’s cachet is more brilliant than ever. From June 2014 to June 2015, the average home price was $2.2 million. In 2013, it was $1.98 million, and in 2006, $1.93 million, according to Spitalnick.

Population: 4,615
Median household income: $199,781
Land area: 8.56 square miles 

Manhasset

Buyers come to this affluent community in Nassau County because it has a “cosmopolitan feel,” according to Adele Kuczmarski, an associate broker with Coldwell Banker Residential Brokerage in Manhasset. That characteristic is especially attractive to many former residents of Manhattan and Brooklyn.

“People have been cashing in on their apartments in NYC, but they don’t want the culture shock of moving to Long Island,” Kuczmarski said.

Manhasset is a shoppers’ delight with the “Miracle Mile” shopping center, plus Macy’s, Lord & Taylor and other stores on Northern Boulevard.

Average residential home prices are just above pre-recession levels: Year to date they are $1.55 million, compared to $1.3 million in 2013 and $1.52 million in 2006, according to Kuczmarski.

Population: 8,080
Median household income: $104,213
Land area: 2.39 square miles           

Rockville Centre

Another suburb featuring a quick commute to New York City and urban flair, with plenty of public transportation, is Rockville Centre. “That’s a big draw for people coming from the city,” said Elizabeth Wallace, a realtor associate with Century 21.

It’s also attracting young professional couples that want to rent. Fifty-two percent of residents in Avalon Rockville Centre, a 349-unit building of one- and two-bedroom apartments that opened in 2011, are under the age of 35, according to Christopher Capece, senior development director for AvalonBay Communities
in Melville.

From June 2014 to June 2015, the average sale price was $735,229 compared to $734,856 in 2013 and $759,865 in 2006, according to Wallace. The priciest sale so far this year was $2.2 million versus $1.7 million in 2006.

Population: 24,110
Median household income: $107,832
Land area: 3.28 square miles