real estate

Million dollars will buy a new home in West Hempstead

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Construction of million-dollar luxury colonial-style homes has begun in West Hempstead.

Eight homes, with prices starting at $925,000, will rise on an acre-and-a-half property at 764 Hempstead Ave., land that has been vacant since the Gaeta house, which stood there for nearly 80 years, was demolished three years ago.

Sharona Beck, a West Hempstead real-estate broker who is marketing the properties, said the new homes are within easy walking distance of five of West Hempstead’s shuls and there is a mikvah across the street.

Beck said local residents appear pleased by the news, reported last week in the Malverne-West Hempstead Herald.

The property was acquired in 2014 by Philips International, a development company, and Paramount Construction, for $1.4 million. 

“West Hempstead is this great, down to earth, warm community. There are people who have millions and people who don’t have a penny and nobody cares and everyone gets along,” Beck said.

The real-estate market in West Hempstead has been steadily growing for the past 35 years, she said.

“It used to be a secret, but now that secret is out,” Beck said. “West Hempstead is hot and people are flooding in.”

Two of the homes are in the negotiation stage and a third one will be soon, she said.

Each of the eight homes, whose sizes range from 2,500 to 3,600 square feet — on lots ranging from 5,600 to 9,900 square feet — will have exteriors constructed partially in stone and some of them will have front porches. All will have attached garages, kitchens, five bedrooms and full basements with nine-foot ceilings.

Many of the homes, due to the large properties they are attached to, have room for growth and expansion.

The five houses that are being built on a newly constructed cul de sac called Paramount Court should be ready for occupancy early next year, with construction on the other three beginning along Hempstead Ave soon after, Beck said.

Along with the new homes will come new infrastructure.

“New sewer lines, gas lines, water mains — it’s a huge process,” Beck said, adding that the properties’ electrical lines will be buried instead of hung from poles. “That is very unusual for West Hempstead,” she said.

Beck said that Philips International and Paramount Construction initially wanted to build a 55-and-older community on the property, but were denied by the Town of Hempstead. Instead they were eventually permitted to subdivide the lot.

“It’s very hard to find a colonial in West Hempstead,” said Beck, who has worked in real-estate in West Hempstead for 29 years. “The most popular style is a cape, and people are constantly calling me for colonials. This block will be sought after because it’s on a cul de sac.”

According to Zillow.com, the median price of a West Hempstead home is $467,800, 11 percent more than a year ago, and it is predicted to rise another 4.8 percent in the next year. 

The website describes the real-estate market in West Hempstead as “hot,” and Beck agrees.

“I’m so busy, I don’t get out much,” she said.