A tale of two markets?

7 Owenoke Way, Riverside, which I wrote about back in March, did, as predicted, go for above ask, but even I hadn’t expected it to sell for 25% more than its asking price: $2.975 million, $575,000 over the $2.350 the owners were looking for.

Riverside is definitely drawing in and appealing to (rich) families with young children, and houses like this, so close to what are probably the two best public schools in town — Riverside and Eastern — are flying off the shelf, chased by multiple bids.

On the other hand, the condominium project at 89 River Road, in Cos Cob, was presumably designed to appeal to young, energetic DINKs, with rowing club amenities, but nothing on the table for kids. None of its 11 units have sold since they hit the market last September, all the units have taken price cuts, and today, four of the most expensive of them, Units 202, 205, 305 and 307, were reduced again, to $2.195; they started at $2.995.