Contracts

While I was away ten properties went to contract – giving proof, no doubt, to the deleterious effects of this blog. If these are typical, the only thing increasing in value these days is direct waterfront. Everything else is way down.

429 Taconic, way up near Banksville, started at $12 million in ’08, dropped to $9.440 in July and has gone to contract at an undisclosed price.

32 Ferncliff, in Cos Cob, really nice land and a house that I liked, sold for $1.050 in 2003, was listed again in ’08 for $1.495 and dropped to $1.165 a month or so ago. I wrote then that I thought it was a great deal and someone obviously agreed.

99 Richmond Hill was listed as new construction at $11.9 million in 2005, finally sold in ’06 for $8.4 and came back on this year for $6.995. It dropped to $6.395 and has a buyer.

The exception to this trend is, just like 99 Richmond Hill, a Joe Barieri listing – Joe is having an exceptional year, with sales ail over town, from Old Greenwich to Conyers Farm. He’s also a very nice person, which makes mean people like myself despair at succeeding at this business. But we persevere. Anyway, Joe sold this in 2002 as new construction for $3.929 million ins 2002 and relisted it for his buyers just a month or so ago for $7.195. I expressed doubt that he’d get it but within days there were rumors of bids and now it’s under contract. Lesson, besides not listening to me, is to buy waterfront.

7 Comments

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7 responses to “Contracts

  1. shelton04

    Did 1 Old Kings Hwy., in Old Greenwich finally sell?

  2. Pete

    Assessor’s records show the 99 Richmond Hill Road on 1/26/06 at an even $8,000,000.
    You mentioned a Joe Barieri listing as under contract. Where?

    • christopherfountain

      Joe had the old David Cone (sp – pictcher for NYY) house in Conyers that sold earlier this year for, somewhere around $10 million.

  3. Xyzzy

    I think one of the contracts in the north crossways in old greenwich. Has to make the water front on tomac happy

    • christopherfountain

      Maybe, Xyzzy, although Lucas Point and Tomac Lane are miles apart as neighborhoods (Lucas is one, Tomac isn’t) even if only a half-mile apart.

  4. Anonymousse

    I’m thrilled to read someone bought 429
    Taconic. It’s a grande olde dame, deserving of
    renovation and love. Congrats to you, new owner,
    if you are a reader.

  5. Anonymous

    Can you let us know what Ferncliff closes for?