The news of the impending renaissance of downtown Tuxedo and Sloatsburg has already made a tremendous impact on the local real estate market. Michael Bruno, founder of the online luxury marketplace 1stdibs, has started a new chapter of his life. In order to revitalize the Tuxedo–Hudson corridor, Bruno created the Tuxedo Hudson Company, an enterprise that is planning the complete transformation of this area, which is sure to become a place known for antiquing, world-class cuisine, and lodging.
Bruno has purchased 20 historic commercial buildings and is investing over $15 million to restore and repurpose these buildings. He re-envisions this area, located 30 minutes from the George Washington Bridge, as a destination for great food with the focus on the bounty of the Hudson Valley. Word has spread that within the next 12 months, organic greens, vegetables, fruits, cheese, herbs, honey, flowers, fish, eggs, meat, locally roasted coffee, and hand-made chocolate are going to be readily available.
“There is buzz and activity happening here that has not been seen in decades,” shares Bruno.
In July, the Tuxedo Hudson Company will open a weekly farm stand to glimpse the official Tuxedo Hudson Company market that is set to open in 2017. Housed in the historic building designed in 1895 by renowned architects Walker & Gillette, this marketplace will soon reclaim its role as the town center.
“We can see the positive influence our project is having on the corridor with the announcement that trendy internet eyewear company Warby Parker is set to open a 34,000-square-foot lab in Sloastburg,” states Bruno. Warby Parker will not only create 128 jobs over the next five years but also will attract more residents and bring a newfound energy to the area. “This manufacturing facility will boost the local economy while also having the potential to lure other businesses into the region and will only continue to elevate the real estate market here,” he emphasizes. Bruno can see “Sloatsburg being the Brooklyn in the gateway to the Hudson.”
The second company that Bruno started, Tuxedo Hudson Realty, hung its shingle out for business in April, and has sold more homes in the three months that they have been operating than have been sold in the previous year in Tuxedo Park alone.
“There is a substantial amount of activity going on in Tuxedo Park and I see an uptick in the neighboring towns as well,” explains Bruno. From speaking with Bruno, the general sense on the market is that the mood is positive and that the home market is percolating; his Tuxedo Hudson Realty has 29 listings and nearly 10 deals in contract on homes that had previously sat on the market for years. They have seen a dramatic sales increase in the community in the last two months. Some of the recent properties to be listed with THR include a number of historic homes located in Tuxedo Park: the stunning “Mortimer Cottage,” which was built circa 1891-98 and is rich with many of the original architectural details; a magnificent mountain top manor designed by Walker & Gillette in 1922 for Charles E. Mitchell, who hired Olmstead Landscape Architects to design the gardens and stone walls; and an exceptional Delano and Aldrich designed Tuxedo Park Manor estate.