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May 21,
2006
by: Lisa Prevost |
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(Douglas Healey for The New York
Times)
TALK of Greenwich inevitably
leads to the price of real estate. The average price of a
single-family home here has surpassed $2.5 million. Downtown,
now the province of hedge fund managers, commercial space rents
at rates comparable to Midtown Manhattan. Upscale condominiums
for "downsizers" are fetching $3 million or more.
Frequently left out of this
discussion are the comparably nominal prices for property in the
neighborhood of Byram, a densely populated, beak-shaped square
mile bounded by Long Island Sound on one side and the Byram
River on the other.
Originally developed in the 19th
century for Italian, Slovak, Polish and German immigrants who
worked the foundries and factories along the river, the
community is often more closely linked with Port Chester, N.Y.,
its similarly postindustrial neighbor on the opposite shore.
"Years ago, there was kind of a
conflict where people from Greenwich never wanted to be
associated with Byram, and the people of Byram always said they
lived in Byram," said Michael Bocchino, 34, a lifelong resident
of Byram and chairman of its active neighborhood association.
"People here felt slighted because the town put less money into
Byram."
The Greenwich cachet may soon
envelope this southwestern corner, however, as local developers
move into one of the few areas of town yet to be gentrified.
Most recently, the area received a nod from Antares Investment
Partners, owner of the opulent Delamar Greenwich Harbor Hotel
and other major properties, with the purchase of a large
apartment complex in Byram for conversion into million-dollar
condominiums.
The Byram riverfront is also
poised for a transformation, as town planners and the
neighborhood association complete a master plan for improvements
that include a boardwalk and parks along the length of the
river. A 20-unit town house community and marina has been
approved for construction on two riverfront acres previously
reserved for industrial uses on South Water Street. Called
Greenwich Landing, the high-end development replaces a heating
oil company.
"This is pretty much setting the
tone for up and down the Byram River," said John Wahba, a Byram
native who is developing the project with his brother James.
What You'll Find
Interstate 95 bisects Byram,
effectively creating two very different areas, one containing
some of the town's most expensive homes, and the other some of
its most affordable.
Above the highway and away from
the shoreline, the hilly terrain is covered with modest single-
and multifamily homes set on small lots. The narrow, winding
streets and closely set houses give this end of Byram a
distinctive village feel, and residents regularly walk to the
Byram Shubert Library, which serves as the community hub, and
the small shopping district along Mill and Water Streets.
Below the highway, Byram Shore
Road follows the shoreline. This avenue dates to the era of the
great industrialists, and their grand "summer cottages," some
hidden behind gates, are still interspersed among newer palatial
properties.
"I find that people new to
Greenwich, and those with new money, have trouble saying they
live on Byram Shore Road; they say they live in Greenwich," said
Kaye Lewis of Kaye Lewis & Associates, a real estate brokerage
firm. "But there was an $18 million sale on that road last year.
I mean, this is not for the faint of heart."
In the village area, residents
tend to be fiercely loyal to their Byram roots, and old-timers
abound. The large number of rental properties have attracted
Hispanic immigrants, some of whom are buying multifamily homes
to live in, and renting the other units themselves.
Young couples discouraged by the
out-of-reach prices elsewhere in Greenwich are also giving Byram
a second look. "This is the only area of town that we could
afford," said Amy Repik, who bought a three-bedroom home in
Byram with her husband, Josh, in December. The couple had
previously rented in Greenwich, and spent two years shopping for
houses as far up the shoreline as Norwalk. But Mr. Repik, a
municipal employee and Greenwich native, was reluctant to leave
his hometown.
They bought their 1929 colonial
for "close to $600,000," said Mrs. Repik, who commutes to work
at Gartner Inc., a market research company in Stamford. The
tradeoff was a small yard, she noted, but not so small that they
can't have a few friends over for a cookout. The planned
revitalization of the riverfront also figured into their
purchase. The town has allocated about $1.5 million for design
and development of the parks and boardwalk. A second phase calls
for the addition of trees, landscaping and benches in the
commercial district.
"This side of town has been
neglected until now, and this is going to bring the value up,"
Mrs. Repik said.
What You'll Pay
While the average price of a
single-family home in other areas of Greenwich has shot up more
than 30 percent in the last two years, "Byram is still under $1
million for a single-family home," said Roberta Jurik, an agent
with Prudential Connecticut Realty.
Primarily colonials and Capes
built in the early 1900's, these small homes start at around
$600,000; multifamily homes start at around $800,000. Many have
been improved upon over the years.
"You won't see many houses being
torn down because they're over the current allowable floor-area
ratio for the lot size, and you couldn't replace them with as
big a house," said Paul J. Pugliese, president of the Greenwich
Land Company, a real estate company, and chairman of the town's
architectural review committee. The new condos will broaden the
housing opportunities in Byram and add a little luxury, he said.
The town homes at Greenwich
Landing will feature custom kitchen cabinetry and granite
countertops, master bedroom suites, three-car garages and 20
boat slips. Priced at about $2 million, each unit will have
three bedrooms and two-and-a-half baths. The setup is convenient
for boaters, said Kathryn Clauss, an agent at Coldwell Banker
Residential Brokerage. "It's a five-minute boat ride from there
to the Sound, but you're in a safe harbor while your boat is
docked in the river," she said.
Sales have just begun on the
converted condominiums at Greenwich Place, formerly an apartment
complex known as Putnam Green. Antares is renovating the
exteriors of the buildings and upgrading the interiors with new
kitchens, bathrooms, flooring and doors. Prices start at
$600,000 for a studio and range as high as $2 million for a
three-bedroom. Greenwich Fine Properties is handling the sales.
At Greenwich Shore, an apartment
complex completed in 2004, all 55 units are rented, and turnover
so far has been minimal, Ms. Lewis said. Situated on a ridge
high enough to allow some units glimpses of the Long Island
Sound, the apartments start at $1,975 a month for a one-bedroom.
The largest unit, at roughly 2,400 square feet, rents for
$5,100.
What to Do
Greenwich is known for its many
parks and beaches, and one of its gems is the 30-acre Byram
Shore Park. Located on the Long Island Sound, the park's many
shady areas entice picnickers, while the beach boasts the only
public swimming pool in town. Public boating facilities have
slips for 300 small boats and 90 moorings for larger crafts.
The busy Byram Shubert Library
offers special programs, from preschool story hours to
Spanish-language forums on first-time home buying. The library
is about to undergo a $3.8 million expansion that will double
its size, providing space for more computers, a community room
and separate areas for the children and teenagers who flock to
the library after school.
Byram's commercial district, once
pocked with vacancies, has begun to attract some architects,
boutiques and salons. There are also banks, delis, a pet shop,
an upholsterer, and a popular restaurant called That Little
Italian.
Shopping opportunities have
expanded considerably since the opening of a big-box retail
complex with a movie theater just across the bridge in Port
Chester. Dining options on the riverfront include Sam's Bar &
Grille, which attracts young crowds in the evening, and the
Black Bear Grille.
The Schools
The Greenwich school system,
which rates among the state's highest-performing districts, is a
major draw for families. Byram's New Lebanon School is the
smallest of the town's 11 elementary schools, with about 240
students in kindergarten to Grade 5. About 40 percent of the
student population is Hispanic. The average class size is 18
students.
Nearly 600 students in Grades 6
to 8 attend Western Middle School, also in Byram. About 70
percent of the school's students in eighth grade met the state
goal on the Connecticut Mastery Test in reading and mathematics
in the 2004-05 school year, compared with about 80 percent for
the district as a whole.
Greenwich High School is one of
the largest in Connecticut, but manages its size by dividing the
roughly 2,780 students into four houses. The school has
extensive programs in music, athletics and the visual arts.
Average SAT scores for the class of 2005 were 563 for verbal,
and 586 for mathematics. Statewide averages were 508 for verbal
and 520 for math. Eighty-eight percent of graduates went on to
higher education.
The Commute
Byram is the section of Greenwich
closest to Manhattan. The 30-mile commute by car can take as
little as 45 minutes on I-95, or twice that, depending on the
time of day.
The Port Chester train station is
closest. Metro-North Railroad trains to Midtown take about 40
minutes. The one-way peak fare is $14; a monthly pass is $197.
The History
Known by several names since
Colonial times, Byram acquired its present name only in 1947.
Just before that, the area was known as East Port Chester, which
makes sense given the community's economic reliance on the
foundries and other industries that rose on both sides of the
river during the 19th century. One of the well-known industries
was a granite quarry, which eventually became what is now Byram
Shore Park.
What We Like
This is a truly walkable
community with the feel of an old New England fishing village.
Looking Ahead
Redevelopment on the Port Chester
riverfront is aggravating cut-through traffic, which empties
into Byram residential areas off the I-95 exit ramp. "The trucks
rumbling down Mill Street are the biggest issue," Mr. Pugliese
said.
Copyright 2006 The New York Times
Company
http://www.nytimes.com/2006/05/21/realestate/21livi.html
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