A steal in Riverside, a folly in Cos Cob

46 Dawn Harbor, Riverside, has closed at $3.7 million. The sellers (over) paid $4.155 for it in 2015 via an intra-office, non-MLS sale (which is why buyers should always be wary of such transactions) and spent huge sums transforming it into a beautiful, modern home. As is so often the case in executive-occupied Greenwich, the new owner was offered and accepted a better job out of state, and put it back on the market last year at $4.875 million. 

As buyers' reps, the Mickster and I mentioned that employment situation to certain clients (and that's why you want a buyer's agent: they can tell you these things, while the listing agent can't), and encouraged them to toss a bid at it: there was clearly a relocation package involved, so what would the seller care? 

In the event, our buyers chose to return to Darien, but someone else — not my client, alas — saw his opportunity and took it. 

Nice deal. 

80 cat rock: resale price ten-years on? Less.

Yesterday's sale of 80 Cat Rock Road for $3.480 million affords a nice distinction between good value and bad, and the delusional madness caused by new construction. Horrible design, mediocre construction, inferior location, especially given its back-lot siting, but it sold nonetheless. 

The two houses are different, of course, and 46 Dawn Harbor's appeal was limited by its having three, or at best four, bedrooms, but buyers would do well if they looked past the date of a home's 2 X 4s and concentrated on location and quality of build instead.