Two 3 on a lot townhome projects have just been listed on Vanderbilt and Rockefeller Lanes.
Unit A and Unit C at 2220 Vanderbilt Ln are priced at $789,000 and $799,000 respectively. Unit A is 1936 sq ft and Unit C is 2062 sq ft. Both are 3 bedroom reverse floor plan units and are described by the listing agent, Jerry Carew of 3 Leaf Realty as follows:
"This luxurious 3-on-a lot, new-construction townhome was built in 2013. Framed by an elegant stacked stone exterior, the beautiful mahogany front door opens up to a hallway with ornate trey ceiling, modern lighting fixture, and travertine flooring with wood accents.. The hallway leads to a beautifully hardscaped/landscaped backyard with fruit tree. The walnut-hardwood staircase, with custom-wrought iron railing, leads to an upstairs living area. Your eyes will be drawn to the open layout of the living room, dining room and kitchen. The living room boasts a beautiful fireplace, while the custom kitchen is a chef’s dream. Not only is there a dual fuel 6-burner KitchenAid oven/stove unit, but also an island, range hood, beautiful granite counters and custom-designed cabinets. In addition, there is a built-in work/office area, breakfast nook off the living room, and balcony overlooking the backyard. The master bedroom is wonderfully designed, with ornate framed doorway, ceiling fan, and his and her walk-in closets designed for optimal storage with a custom finish.Its master bath features double sinks with marble counters, seamless glass shower doors, jetted tub, and beautiful tile surround. This beautifully designed townhome is definitely not to be missed!"
For those buyers who may be looking for 4 bedroom properties, there are 2 at 2409 Rockefeller Lane (and one 3 bedroom). Curiously, all 3 units are priced the same by Amir Amiri at $779,000. I guess the idea is to let the market figure out the body parts or at least the prices!
Not to be left out, there's also new detached 2 on a lot townhomes being offered by Esmail Soltani of RE/MAX at 1817 Belmont Lane. How about a "Brand New Custom built by advanced design and construction, newly designed floor-plan of 2629 sq ft., 5 bedrooms, 4 bath, family room/Den and 4 bedrooms up stairs have high cathedral ceilings. Master bedroom has custom Fireplace, balcony and retreat master bath with "jacuzzi tub", large walk-in closet & skylight. Downstairs one Bedroom,bathroom, Living room with fireplace and "love at first sight" gourmet kitchen with granite counter-tops and built in appliances, with Traver tine-Marble on the floors with Dining room.A/C Ready. One of the best in quality and price walking distance to Award winning. Jefferson School. Completion August 2013." This one is priced at $1,049,000.
One of the reasons I track new construction so diligently on this site is because it is the benchmark for resales in the neighborhood. Working on the assumption that no one will pay more for a comparable resale than a similar new home, we have an indication where the market is moving.
I know for a fact that there are a number of owners sitting in 3 on a lots that they bought at the market height that would love to move on if they can get out without doing a short sale. Based on the prices of these newly built townhouses, the wait for the resellers may not be long at all.