Sales

21 Cornelia Drive closed at $5.350 million. Original price, 2005, $11.7 million. Assessed value: $4.205

52 Round Hill Rd sold for $2.150 million. Original price $4.4. Bought for $3 million in 2000. Assessed value: $2.641

18 Woodside. Never on market, $2.295. Assessed value, $1.875

12 Comments

Filed under Uncategorized

12 responses to “Sales

  1. Helsa Poppin

    52 Round Hill Road went for $2.150??? This is something we have to chew over. I know the house was dodgy but still. A spec house near where I live in Cos Cob went for $2 million a couple of years ago, and the lot size can’t be much more than a quarter acre. Wow.

  2. Retired IB'er

    Chris wrote: “it’s what I’ve been saying is coming, and it’s coming”

    Chris,

    Do you think it is time for another of your general state of the “market” posts.

    Is it fair to say that there are more sales than perhaps you were expecting in July, but the prices are, for the most part, “realistic” and the levels of inventory are holding high?

    • christopherfountain

      That does sound like a fair summary of the situation IB’r, but I’ll pull some stats tomorrow and post numbers. I am aware of some pending deals (because I’m working on them) that will make today’s numbers look like peak sale days. More soon, I hope, but if for some reason I can’t pull them off, they’re still going to be sold by someone at some pretty gobsmacking prices and I think they are harbingers, not outliers. Hang on.

  3. G'wich Transplant

    52 Round Hill had floors in the living room buckling from water damage (there’s a small pond in the back and god knows whether the foundation of the house is ok — it has no basement). The house also has that fake stucco on the outside (can’t remember the name of the product, but it was popular in the 70s) that traps water and has been known to promote mold growth. At least one buyer went into K only to be scared off by the potential costs to fix the problems. Not saying it wasn’t cheap, but there were extenuating circumstances.

    • christopherfountain

      I think that’s called Dri Vit, G’wich and you’re right – awful stuff, subject to huge class action suits in Florida. Water gets in around windows and failed caulking and can’t get out so it rots the whole house. There’s a nice house on Stallion Trails that one of my customers almost bought until I tapped on the wall and heard the distinctive ring (sounds like plastic, instead of a solid thump that real stucco gives). I knew I’d read bad things about the stuff but when I Googled it, I was apalled. We found another house.

  4. anon

    the egregious price was someone paying 3mm back in the day for 52 Round Hill. This looks like a teardown and $1mm/acre isnt bad, considering the land backs up to a swamp. Plus no privacy right on the main road.

    • christopherfountain

      I’m selling much better land, I think, further up for $2.3 – closing later this month. I looked at 52 for my client and I at least thought the land he did buy was a far better value – and for you cynics, the difference in the commission on such a small difference in price is just about nothing. Still, any 2 acre building lot on Round Hill this close to town even this one, would have and did sell for more in past years.

  5. 52 RHR

    52 is not so great. not great land either. 2 + is fair.

  6. 52 RHR-suckiest property

    was built on a slab, that was cracked, and sold at auction years ago, owners made rock wall from stones found on property (on the cheap), least attractive home in neighborhood. wet back yard. built in era just when wetlands was starting to take grasp. probably couldn’t build a house there today given the rules. wetlands was largely filled in back then.

  7. a stream runs thru it

    A lot of tree sprayers legally stop at the creek across the street from 52 Round Hill to get their water for their trucks to do tree spraying (Round Hill Tree Company especially). The stream runs right thru the place. It is also a low point on Round Hill so water collects there. Owner better not even ever consider basement here.

  8. anonymous

    Lots of dramatic reductions of trading (and ask) prices of Manhattan condos/co-ops in recent days; 15 CPW is already down to ~$3K/sf trading price….$2K/sf (ask) is fast approaching (and already reached w/some of the elderly co-ops on 5th in 80s)