Yi Fang Yen SVP, Digital Media and Advertising Business Solutions | realtors.com
Gatsby-esque mansions, country clubs, and equestrian pursuits in the shadow of the Empire State Building define Old Westbury, New York. This village of just over 5,000 people on Long Island’s North Shore is approximately 25 miles east of Midtown Manhattan. It is part of the Gold Coast, a roughly 30-mile stretch where wealthy families built lavish manors from the 1890s into the early 20th Century. Here, they enjoyed polo playing, gardening, and entertaining. Today, most of Old Westbury’s historic estates have been subdivided, but its allure remains.
“Old Westbury has always been a popular place to live,” says Lois Kirschenbaum, a Daniel Gale Sotheby’s International Realty associate real-estate broker. “But with young people wanting to leave the city for more of a country club setting, we are seeing renewed interest.”
Key metrics show how the village’s market has changed over time according to Realtor.com. News Corp, owner of The Wall Street Journal, also operates Realtor.com.
How Old Westbury compares to neighboring communities as ranked by ZIP Code median listing price in July 2024 data from Realtor.com:
- Mill Neck (11765): $5 million
- Old Westbury (11568): $4.83 million
- Cold Spring Harbor (11724): $3.42 million
- Greenvale (11548): $3.28 million
- Locust Valley (11560): $3.01 million
Millennials form a significant segment of buyers in Old Westbury. Typical buyers include financiers, entrepreneurs, sports and media personalities, doctors and healthcare administrators, and educators at local higher-education institutions.
Central hall Colonials are especially popular among buyers. Ranches and homes with a primary bedroom on the main floor are increasingly sought after. Houses are frequently set back off the road.
The current priciest listing in Old Westbury is valued at $28 million and features seven bedrooms, 13 bathrooms, and 25,000 square feet on a seven-acre lot.
The most exclusive community within Old Westbury is Spring Hill—a 160-acre gated community with lots ranging from 4.61 acres to 10.35 acres designed by Kean Development.
Regarding home insurance considerations for Old Westbury residents: Janet Ruiz from the Insurance Information Institute advises that homeowners should ensure that systems such as electrical and plumbing are updated due to many older homes in the area. She adds that notifying insurance companies about security measures can lead to discounts and better protection for valuable art and furniture typically found in these homes.
“Limited inventory is pushing people to make decisions quickly,” Kirschenbaum notes. “If you’re a buyer being shown a home you could afford...you can’t say ‘I’ll wait for another house.’ Another house might not come along.”
On the market:
Post Rd: Completed in 1935 with an 18th-century Colonial Williamsburg red-brick facade featuring various amenities including gardens and greenhouses.
Agent: Lois Kirschenbaum
I U Willets Road: A contemporary house built in 1974 but updated in 2010 with separate wings and museum-quality lighting.
Agent: Sandy Binder
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