Fuzhi Cheng and Xiang Xue bought a three-bedroom, 1.5-bath home at 174 Madison Road in Scarsdale from Muriel H. West and Linda W. McKenzie for $699,000 on April 15.

The 1,584-square-foot house was built in 1965 in Scarsdale Central.

Cheng is a research fellow of global issues initiative at Virginia Tech's Institute for Society, Culture and Environment.

He previously was a post-doctoral fellow at Cornell University and a consultant in the markets, trade and institutions division at the International Food Policy Research Institute in Washington, D.C.

He received his Ph.D. in economics from Virginia Tech.

According to BlockShopper.com, there have been 149 home sales in Scarsdale during the past 12 months, with a median sales price of $1.075 million.

Address: 174 Madison Road
Buyer(s): Fuzhi Cheng and Xiang Xue
Seller(s): Muriel Hands West 2001 (Revocable Trust), West, Muriel H-Trustee and McKenzie, Linda W-Trustee
Sale date: Apr. 15, 2010