Price cut in Old Greenwich

30 Edgewater Drive

30 Edgewater Drive, from $1.995 million to $1.895. 1921 construction on 0.13 of an acre in the R-12 zone, which means that it’s already non-conforming at its 2,000 sq. ft.: FAR allows just 1,784, so no adding on here.

The closest comp I see is the huse around the corner, 49 Edgewater Drive, built in 1920 on 0.12 of an acre, which sold in May this year for $1.540. It started at $1.795 million almost a year before that in July, 2022.

If I were working with a buyer interested in No. 30, I know where I’d advise them to begin. And then I’d warn them that they might have to wait a year.

49 Edgewater drive