Pending in Cos Cob

19 Old Stone Bridge Road, marked down from $1.795 million to $1.275 is pending. Stone Bridge is a development carved out of the old Chimblo property in the late 70s. The houses were the Greenwich equivalent of “affordable housing” in that not a huge amount of money was spent on landscaping — the lots were just carved out of the rocky, overgrown hillsides, and construction quality would have been described as Home Depot level, had Home Depot been operating in our area then.

But they aren’t bad houses by any means, and they do sell. Prices had climbed, generally, to the $1.750-$2.1 range by 2008, but there’s been a slow erosion since, and this house’s price of $1.275 doesn’t surprise me.

I did run the owner’s 1993 purchase price of $717,500 through the inflation calculator, though, and came up with $1.280, so all-in-all, not bad. Take away the virtual staging in the photographs and you’ll see that she did essentially nothing to the house during her ownership and still came out even. That’s a win.