Here’s What $400,000 Buys in Carmel, NY

Prices south of $500,000 for any structure over 2000 square feet are rare these days, and when they do happen the circumstances are atypical. That’s exactly what happened with the sale of 37 Fair Street in Carmel, which our seller client closed on last week. Often, lower price points are relegated to fixer uppers or tear downs, but “atypical” in this case was “atypical-er than usual,” if you’ll forgive my butchering of the King’s English.

The building was not in updated, 2025 state of the art condition for sure, but the curveball was not so much condition as it was status. The structure was originally a residential property that was converted to offices decades ago. Some commercial conversions make you forget that it was a residential property the moment you walk inside, but in this case you could see that it was not far removed from residential. The new purchaser chose to convert it back to a multi-family residential home, a vision they had despite the plum location for an office downtown in the hamlet.

Every property has a story to tell, and we wish the buyers, who also came through our extended team, all the best in their new venture. This one is gone, and it may be a while before we get another one like it but we can help with anything at this price point up to one with another zero at the end of the price. Just call 914-450-8883 and the team will take awesome care of you!