After a design process that took eight years, construction has begun and the first units are for sale in a luxury residential development in Scarsdale that will incorporate the former Heathcote Tavern.
A 14-unit apartment complex called The Heathcote is being built on the Weaver Street property that includes the former tavern, with occupants expected by next summer, according to Dawn Knief, an agent with Julia B. Fee Sotheby”™s International Realty who will sell the spaces.
- A rendering of The Heathcote in Scarsdale.
The new residential site will be a housing cooperative and is being developed by 2-4 Weaver Street Owners Corp., a development entity of New Jersey-based The Real Estate Equity Co. LLC.
The former tavern has been gutted and will be renovated to include a fitness center and three housing units, according to Kyle Oder, an operations manager with Twin Oaks Construction, the Hartsdale-based firm assigned to the project.
The new building”™s construction recently began, he said. The structure will house the other 11 units and the main concierge area.
Units will range from 1,900 to 3,300 square feet ”” the largest units being two penthouses ”” and each will be customized by the purchaser who in the pre-construction phase will have their choice of the number of rooms, cabinetry, flooring styles and more.
The cost will be about $1,100 per square foot, which puts the smallest unit at a price of about $2.1 million. Each residence will have a fireplace, outdoor terrace, two indoor parking spaces, an additional storage unit and access to the fitness center.
A similar complex at Christie Place in Scarsdale was completed in 2008. It is composed of 44 units, restricted to people aged 55 and older.
Knief said she thinks there is high demand in the area for residences like The Heathcote, which will not be age-restricted, and said there has been strong interest from possible tenants and investors.
The units could be available for rent, she said, for investors who want to buy during the pre-construction phase and then flip them.
