Thursday, November 6, 2014

Newsday: Buying in (and into) Oyster Bay

Buying in Oyster Bay

The marina in Oyster Bay hamlet's Theodore Roosevelt Memorial Park on Oct. 29, 2014. Photo Credit: Newsday / Audrey C. Tiernan 
Given its location on the North Shore, the hamlet of Oyster Bay -- on Oyster Bay Harbor -- is sheltered from through-traffic. "What I love about Oyster Bay is it's quiet. . . . There's no hum of the LIE," says resident Marilyn Fox of Daniel Gale Sotheby's International Realty. Yet everything one needs is nearby, she adds. 
The area's waterfront and historic landmarks attract tourists. Museums such as the Earle-Wightman House on Summit Street and Raynham Hall on West Main Street offer a glance of life as it was in the 18th and 19th centuries

The area's biggest draw is President Theodore Roosevelt's home, Sagamore Hill in Cove Neck, which served as the summer White House beginning in 1901. (The home is closed for rehabilitation, but the visitor center, museum and grounds are open.) Another popular attraction is the WaterFront Center, offering watercraft rentals, sailing lessons and marine environmental education.
Vintage buildings housing shops, eateries, pubs and offices, as well as a senior center and Town of Oyster Bay offices, make up the heart of the business district. Billy Joel's motorcycle collection, 20th Century Cycles, is here, too.
The downtown has received a face-lift -- a collaborative effort of volunteer community groups, including the Oyster Bay Main Street Association and government. "Our whole goal is to revitalize the downtown," says Meredith Maus, the association's executive director.
Homes styles, ages and property sizes are varied. Carol Gannon of Douglas Elliman Real Estate says many home buyers discover the hamlet during the annual Oyster Festival in October. "We always get a burst after the Oyster Festival," she says.
CO-OPS, CONDOS AND TOWN HOUSES 16 listings, $99,900 to $765,000
RENTALS start at about $1,300 a month, Gannon says.
SALES PRICES From Sept. 1, 2013, to Oct. 20, 2014, there were 50 sales with a median price of $547,500, according to Multiple Listing Service of Long Island data. The low price was $210,000 and the high was $1,699,999. From 2012 to 2013, during the same period, there were 52 sales. The median price was $531,750, with a low of $180,000 and a high of $1,200,000.


Town: Oyster Bay
Area: 1.2 square miles
ZIP code: 11771
Population: 6,707
Median age: 45
Median household income: $82,528
Median home value: $571,500*
LIRR time to NYC: From Syosset, 44 minutes to 59 minutes at peak
Monthly ticket: $276