Assuming the leverage of 80% financing, not too bad, I suppose

The owners (until today) of 26 Valleywood Road in Cos Cob paid $1.465 million for it in 2022 in a bidding war that had started at $1.395. They put it back on the market this past June, marked up to $1.795, and finally found a buyer in November. Closed today at $1.7. If they had $293,000 (20%) of their own money into this deal, and got that back, plus another $116,000 (assuming estimated transaction costs of 7%) it looks as though they came out pretty well for such a brief period of ownership.

Still, it seems like a lot of work to go through when an index fund would have done better, with no effort on their part.

(Obviously, these are just some top of the head numbers; I’m just always curious to see whether the sort-term stays of so many Greenwich residents is worth the candle and so far, I’m not convinced they are.)