Mooreland Road price cut

too little, too late?

The spec house at 35 Mooreland Road has dropped its price to $8.395 million, down from its original 2017 ask of $11.250. Its builder paid just under $6 for two lots here (just off Round Hill), priced both its projects in the elevens and, fortunately, sold 37 Mooreland for $8.4 this past October 31st. I say “fortunately” became just two weeks later, the foreclosed house of former real estate star Joe Beninatti, 42 Mooreland, once listed at $26 million, sold for $6.530. Beninatti’s house was never worth anything close to $26 million, but its sale for $6.5 must have made whoever paid $8.4 for 37 Mooreland feel like a chump. Apparently, prospective buyers of 35 have no desire to join their potential neighbor in his humiliation, and I predict that we’ll be seeing further price developments on 35 for a while further.