Home Buying in 10960>Question Details

Ellen Kippel, Real Estate Pro in Suffern, NY

Will the new Tappan Zee bridge have any effect on home owner property in the Nyack, NY 10960 area?

Asked by Ellen Kippel, Suffern, NY Thu May 30, 2013

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That's a rather complex question. The Nyack 10960 area is rather large, covering all of the village of Nyack, and all of the village of Upper Nyack, the village of South Nyack, the village of Grandview on Hudson, the hamlet of Central Nyack, the hamlet of Upper Grandview, and even part of the hamlet of Blauvelt!

When first announced, the Thruway Authority had plans to acquire 6 properties located on South Broadway, Smith Street and Cornelison Street in South Nyack. Those plans have since been rescinded and no additional plans for the taking of homes have been presented. There is the likelihood that the Bradford Mews apartments may lose some parking spaces, the Salisbury Point cooperative apartments will not lose any property. At least, those are the plans at present, and as construction has begun, it appears that plans will remain this way. It is best to check with the NYS Thruway Authority for certainty and not the Real Estate community, but this is what we have been informed are the facts as they stand today.

In terms of property values? Who can say? The project as a whole should by all rights raise property values across the very large 19060 area, and any losses to value should be those properties directly affected by noise and other by-blows of the construction process, and then only for the time period of the construction itself. While some values in the direct area of the bridge landing in South Nyack do appear to have dipped around the time of the major announcements and votes regarding the bridge, not all have done so oddly. Amazingly, of late, prices and sales at the Salisbury Point Cooperative apartments appear to be increasing, not decreasing so it appears that all bets regarding which properties may find this project deliterious and which find it a blessing are off - who could predict an uptick in sales at Salisbury at this time after all?

During construction, most of the area will not be negatively affected and the influx of workers may positively affect a good number of properties. In the long run - after this 5 year construction period, it seems there is little reason to imagine any negative affect on the area's properties and property values - so in the long term it should be good for the entire area. I'm a realtor, not a psychic, but this does seem to be the most likely outcome.
0 votes Thank Flag Link Fri May 31, 2013
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