A steal in Riverside, a folly in Cos Cob

46 Dawn Harbor, Riverside, has closed at $3.7 million. The sellers (over) paid $4.155 for it in 2015 via an intra-office, non-MLS sale (which is why buyers should always be wary of such transactions) and spent huge sums transforming it into a beautiful, modern home. As is so often the case in executive-occupied Greenwich, the new owner was offered and accepted a better job out of state, and put it back on the market last year at $4.875 million. 

As buyers' reps, the Mickster and I mentioned that employment situation to certain clients (and that's why you want a buyer's agent: they can tell you these things, while the listing agent can't), and encouraged them to toss a bid at it: there was clearly a relocation package involved, so what would the seller care? 

In the event, our buyers chose to return to Darien, but someone else — not my client, alas — saw his opportunity and took it. 

Nice deal. 

80 cat rock: resale price ten-years on? Less.

Yesterday's sale of 80 Cat Rock Road for $3.480 million affords a nice distinction between good value and bad, and the delusional madness caused by new construction. Horrible design, mediocre construction, inferior location, especially given its back-lot siting, but it sold nonetheless. 

The two houses are different, of course, and 46 Dawn Harbor's appeal was limited by its having three, or at best four, bedrooms, but buyers would do well if they looked past the date of a home's 2 X 4s and concentrated on location and quality of build instead. 

Sold

36 Montgomery Lane (off Stanwich — corrected), $3.6 million, on an original asking price  of $3.950 million. The sellers paid $2.825 for it in 2013, long after the spec builder had put it on the market for $8.295 million, and ostensively renovated/improved it. The house is nice enough, but considering its location, and the house itself, that $8 million price was, to use a technical realtor term, "batshit crazy".

Contract on Bailiwick

19 Bailiwick Road

19 Bailiwick. askimg $2.875 million; started at $3.850 back in May, 2016.

There must be something nice about Bailiwick (in fact, there is), that keeps persuading owners who live there to overvalue their homes. The previous iteration of this house, pre-renovation, was originally priced at $3.495 in 2007, and finally sold for $2.025 in 2009. 

I think its appeal, besides its architecture so reminiscent of their homes across the border, is that Westchester County residents can move here to escape that state's taxes while remaining close to their friends.

It's certainly not the convenience to town that's the draw, nor the ever-present Merritt Parkway noise.

The sellers have promised to take this chandelier with them when they go — with some hard negotiating, they might be persuaded to remove all the lighting fixtures

Price cut in mid country

11 Vineyard Lane

11 Vineyard Lane, dropped today to $8.895 million. It was purchased for $9 million in 2008, completely and expensively restored, and returned to the market in 2011 priced at $9.950. The owners have had it on and off the market ever since, interrupted by several rentals. 

It was once a grand old house, built in 1930, but somewhere along the way someone made the unfortunate decision to add a Dutch gambrel sort of appendage, which hurts both the eye and its resale value, but that pimple could probably be popped by a bulldozer in less than a day.

Beautiful grounds and a great, close-to-town street. As listing agents like to say, "great potential". 

Good luck with that $8.895 price tag, though.

Punk Zebra?

The more conventional Zebra, albeit reincarnated as curtains

And the Dead Cow

Like almost every other wine cellar in Greenwich, wasted space. Do we all just drink gin?

Down 20% since 2004

62 Hunting Ridge Rd

62 Hunting Ridge Road, which sold for $6.650 million in 2004, returns today at $5.395. The current owners even added a pool and a tennis court during their tenure. Sad.

Listing claims that the property is "just ten minuets from schools, shopping and country clubs" — depending how long each of those dances lasts, that could be a short distance or long; it isn't disclosed.