The legend of Sleepy Hollow, now with a $2 million price tag

Sleepy Hollow used to be called North Tarrytown, but was rebranded after Washington Irving’s famous tale in an effort to attract visitors. It worked. Every October, over 200,000 revelers head here for hayrides and to see the Headless Horseman. And many end up staying—particularly New Yorkers craving more space and small-town vibes just a 40-minute train ride to the city. Here’s more about why Sleepy Hollow makes sense from Kerry Fedigan at Sun Homes.

How she got started: Eight years ago, Fedigan arrived on a wide-open stretch of riverfront in Sleepy Hollow to sell homes that weren’t built yet. Today, her focus is One Kingsland, which comprises the last 90 townhomes being offered at Edge-on-Hudson, a master-planned community of 1,177 condos, townhomes, and rentals.

The pros: Sleepy Hollow offers a rare combination: historic character, easy access to the city, and waterfront real estate. Values hold, since “waterfront is finite, especially this close to New York City.”

The cons: Historic charm comes with a catch—like ongoing maintenance and layouts “designed for a different era,” Fedigan says. New construction offers open floor plans and less upkeep, but doesn’t come cheap: Homes at One Kingsland sell for $2 million and up, plus HOA fees starting at $822 per month.

Her advice: Before you buy into any HOA, check its rules on renting out your place. Although spaces here can draw “attractive rental returns” of $12,000 to $14,000 a month, One Kingsland generally expects leases of a year or longer to preserve the neighborhood’s residential feel.