Land in the right location is still selling, and commanding premium prices

204 Otter Rock Drive

204 Otter Rock, Belle Haven, pending at $6.750 million. This was originally a 3+ acre parcel, and was truly spectacular, but the $11 million price tag was daunting. Still, in this location, I think you could have paid that price and still built a house that made economic sense. But no such buyer appeared, so the land was split, with the lower lot selling for $5.1 in December 2018, and now this one.

Meadow Place

7 Meadow Place, Old Greenwich, has sold for $6.195 million. You could never recreate this filled-yard, and that makes a difference. But it’s still a cramped lot on a relatively cramped street, and I’d have hesitated before spending so much for tidal waterfront.