Back on the market, and with a price cut

11 Cove Lane, Old Greenwich, was purchased new in 2007 for $5.500 million, and put back up for sale exactly a year ago today at $5.225. That didn’t work, and last July it was withdrawn from the market while priced at $4.695. It’s back today, asking $4.5 million.

It looks like a nice house (interior photos aren’t up yet), and Cove Lane is a good street, convenient to town and OG Elementary, but this is on the non-waterfront side, so not as attractive. Does it flood over here? My memory says yes, but if it was built in 2007 it should have all its vulnerable mechanicals raised above flood levels. Or it may not flood at all: check with your agent.

UPDATE: I checked for you. The Tax Card says it is not in a flood zone. The disclosure form reports occasional “seepage — not moveable water” from the basement walls during a couple of instances of high water. Make of that what you will; I personally wouldn’t be awfully bothered.

do you suppose the builder run out of money to pay his architect once the front was finished?