These days, who knows? They may get it
/9 Oak Lane, Old Greenwich, is newly for sale today and asking $2.775 million. A 1900 ship steward’s beach shack that’s been improved with steam heat and window air conditioners, the town tax people appraise it at $2,482,700, so maybe this price is in the ballpark. The land, and this is certainly a land sale, is 0.19 acre in size, in the VE (16’ minimum elevation) and AE (13’) flood zones, and town FAR regulations limit its size to 2,607 sq. ft. (for obvious reasons, there can be no basement here).
To me, that seems like a lot of money for not a lot of house: $1,000 per foot, even before you’ve started construction, but there’s probably someone out there, probably an Upper East Sider who claims to be terrified of global warming and a 50’ rise in sea level by 2029, for whom this will be considered mere chump change.