A listing dies in New Canaan

Fall of the House of usher

New Canaan’s market makes Greenwich’s look almost healthy. 64 Wydendown Road, 11,400 square feet on 5 acres, was offered new in 2007 for $12.9 million. Finding no buyers, it disappeared in 2008, only reemerging in 2017 at $9.950. Now, two years on, it’s been marked down as a short sale and asks $3.995.

They probably won’t get that, either

UPDATE: I was going to suggest that a short sale was unlikely here because the borrower usually has to show he has no assets, and the scion of IBM’s Arthur Watson seemed an unusual candidate for that status, but the tax records show $3 million-plus in federal tax liens, $6 million-plus in mortgage debt, and an active foreclosure going on. Interesting.