Locust Valley: Holiday events, bucolic vibe draw buyers to 'Gatsby' inspiration

This $4.25 million Locust Valley home sits on over 7... — This $4.25 million Locust Valley home sits on over 7 acres. Credit: Daniel Gale Sotheby's International Realty

By Arlene GrossSpecial to NewsdayUpdated December 2, 2024 10:29 am

THE SCOOP Bucolic is an apt description of Locust Valley, the square-mile unincorporated hamlet tucked away on the North Shore.

"It just feels like a country area that's not so far out as the Hamptons," said Kimberly Bancroft, of Daniel Gale Sotheby's International Realty, who said that since the COVID-19 pandemic, many people from New York City have bought homes in the community.

The area is still rather under the radar, noted Town of Oyster Bay Councilwoman Michele Johnson, who's lived in the hamlet for 25 years.

"It's such a quaint, quiet, little charming village that's kind of off the beaten path. It's not your typical Long Island town," said Johnson, noting that it’s not near major roadways.

The inspiration for F. Scott Fitzgerald's "The Great Gatsby," Locust Valley boasts nationally recognized Friends Academy and the Portledge School, fine dining and shops and is surrounded by nature preserves: Planting Fields Arboretum, Shu Swamp Nature Preserve and Bailey Arboretum, which allows dogs.

Locust Valley is also home to several upscale antique and consignment shops, plus the renovated Grenville Baker Boys & Girls Club, Bancroft said.

"It's a really nice place for kids to come after school," said Bancroft, adding that the community also has a great library.

The Locust Valley Chamber of Commerce hosts events throughout the year, including an autumn harvest fair, annual house tour, Christmas tree lighting and holiday shopping day when visitors are transported to the shops by a horse-drawn carriage.

Named in 1856 for its many locust trees, Locust Valley was originally part of Matinecock, which was settled in 1667 by English farmers. In the years after Long Island Rail Road service reached the hamlet in 1870, it became a haven for the likes of publisher Frank Doubleday and other affluent people who built grand estates, horse farms, polo fields and private clubs there.

Though the village itself is largely middle class, the Locust Valley postal and school catchment area encompass the surrounding wealthier incorporated villages of Lattingtown, Matinecock and Mill Neck.

Buyers will find mostly Colonial, Cape, split-level and Victorian homes, as well as multimillion-dollar estates.

SALE PRICES Between Nov. 28, 2023, and Nov. 27, 2024, there were 45 home sales with a median sale price of $1.028 million, according to OneKey MLS. During that period a year earlier, there were 59 home sales with a the median sale price of $955,000.

CONDOS AND CO-OPS There are no condos or co-ops on the market.

OTHER STATS

Population 3,611

Median age 43.5

Median home value $1,027,750

Monthly LIRR ticket from Locust Valley $287

School district, graduation rate Locust Valley 96.8%

Library Locust Valley

Transit Nassau Inter-county Express Bus Route 27

Sources: 2022 American Community Survey; OneKey MLS via InfoSparks by ShowingTime; LIRR, data.nysed.gov

ON THE MARKET

$4.25 million

At 4,984 square feet, this four-bedroom, 5½-bath home sits on 1.42 acres and has an open floor plan, tray ceilings, a mix of hardwood, brick and tile floors, a paneled library and a wet bar. Multiple sliding glass doors lead to the landscaped grounds, which overlook a more than 7-acre sanctuary and include rose and peony garden areas, awning-covered bluestone terraces, a heated pool and full-house generator. Taxes are $49,933. Patrick MacKay and Dana Hansen, Daniel Gale Sotheby's International Realty, 516-759-4800.

$3.4 million

Built in 1989, this French Normandy manor boasts 6,680 square feet of space, five bedrooms, each with a full en suite bath, and two half-baths. Among its features are a renovated chef's kitchen, family room with wet bar and primary suite with balcony. The 4.1-acre property also has an apartment above the three-car detached garage, as well as a saltwater pool with waterfall, pool house with summer kitchen, tennis court, outdoor gas fire pit and full-house generator. Taxes are $45,235. Kimberly Bancroft , Daniel Gale Sotheby's International Realty, 516-759-4800.

$1.155 million

This approximately 3,000-square-foot home was completely rebuilt with cedar roof and siding, lead-coated copper gutters, commercial kitchen with custom stainless steel counters and high end Farrow & Ball paint. It sports five beds, five baths, large multipurpose front hall and hardwood oak floors. The partially fenced-in, 0.15-acre property has a detached two-car garage/one-bedroom cottage and bluestone patio. Taxes are $15,094. Paul Mateyunas, Douglas Elliman Real Estate, 516-759-0400.

RECENTLY SOLD

$1.995 million

Kaintuck Lane

Style Colonial

Bedrooms 5

Bathrooms 4½

Built 1999

Lot size 3.92 acres

Taxes $39,641

+/- List price -$493,000

Days on market 313

$876,000