Lingering on Porchuck

31 N. Porchuck Road has been knocked down to $4.795, and who knows where it will end up? (property link unavailable, but check back later today). I wrote about this property back in 2017, when I applauded its owners for taking a million dollars off the price in one fell swoop. That reduced its price from $8.9 to $7.9 (and down from its original price of $10 million, but I warned then that I wasn’t sure it would sell, even at its new price. It didn’t.

The owners paid $6.250 for it in 2009, but at least, so far, and ignoring whatever additional money they put into the place during their ownership, they haven’t duplicated the loss suffered by the original buyers, who bought it new in 2007 for $7.850. That $6.250 probably seemed like a pretty good deal, at the time.

UPDATE: A reader sends along this link: the property is being marketed by an auction company. I haven’t seen too many of these succeed in Greenwich, and the property usually ends up back on the MLS, but maybe this will prove an exception.

(I note that, according to the ad copy, “This idyllic location on North Porchuck Rd is engulfed in nature” - Seems an odd claim, right along with another other bit of realtorese I saw once that boasted of a New Jersey mansion’s “intimidating entrance”. Of course, that house could have been the residence of Tony Soprano, but still ….)