New construction and depreciation thereof

meh

16 Grant Avenue, in Old Greenwich, is reported as pending, last asking price, $3.195. The sellers will pretty much break even: they paid $2.9 for it in 2014, but it's interesting, to me, to note that this plain vanilla house sold new in 2005 for $3.310 million. According to my handy-dandy inflation calculator, that would have been $4,263,985 in today's currency.