Two more sale prices to add to data base

149 Old Church Rd

149 Old Church Rd

This is a great house that started out at $3.795 in ’08 and sold today for $2.304 million – 61% of asking price. The owners paid $1.975 million for it in 1998 and poured a ton of money into renovating it so as an investment, it was no better than Bear Stearns stock, but they had a lovely place to live for years. There are two similar houses still for sale on the same street, still priced way up in the $3s. But, as their owners will tell you, those houses are different.

 

 

4 Buxton Lane
4 Buxton Lane

And here’s a surprise: 4 Buxton Lane, asking $2.795, has sold for $2.4 million. That’s not only 86% of its asking price, it’s substantially higher than a similar house sold next door in 2004 or 2005. Well, Riverside is a nice place to live and someone obviously liked this home’s build and back yard more than he cared about the noise from I-95. Or perhaps he’s a truck spotter – they pay extra for proximity to their quarry.

8 Comments

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8 responses to “Two more sale prices to add to data base

  1. Enzo

    The two houses you just commented on makes me wonder. They look pretty similar in size, but how could a house on Buxton ,with I-95 in the backyard, sell for more than that house on Old Church. Who would ever pay $2.4mm for a house on Buxton. I just don’t get it.

    • christopherfountain

      Nor do I, Enzo. All I can figure is that someone has a bunch of kids in Riverside and Eastern, didn’t want to move them and elected to stay in Riverside. But in this house for this price? He must really have wanted to stay.

  2. Cos Cobber

    Hey CF, looking back to early July at that time I said that this house would clear at around 1.8m….boy was I wrong.

    I happen to like this house…but not at this price. But I wont complain about houses selling for more than what I anticipate….its when they sell for less that it hurts.

    • christopherfountain

      CC, I’d have guessed $1.8 too, so it just shows to go you – there’s a house for every ine and some people are willing to pay for what they want.

  3. Pete

    To add to the enigma, the Old Church Rd. house is over 2,000 sq. ft. larger according to the Assessor, 5,920 as compared to 3,903.

  4. Cotswood

    Along these lines, I know of a beautiful house in NW Greenwich that has been reduced to $3.95, I think. 70 Sherwood Ave. For people trying to escape Westchester taxes, or anyone looking to be close to Brunswick, Sacred Heart, or even Westchester Airport, this could be a sweet deal. Obviously, no one likes airport noise, but it really isn’t much worse over there than on Round Hill. Plus, very close to Glenville Pizza, which is the best in town, hands down. Sorry cc’er…

  5. Anonymous

    Location. Location. Location.
    It is all about Riverside School, EJHS, last stop on the bus to the high school,walk to the train, no need for lawn service, low maintenance, etc.
    It is all about or somewhat about cash flow. You pay a higher price for the house, + lower maintenance costs vs lower price for the house + higher maintenance costs (which include decorating that huge house…window treatments alone!!). It is the same arbitrage as Greenwich vs Westchester…higher house price + lower taxes. Where would you rather have your $$$ go?

  6. pulled up in OG

    No need for lawn service???

    Take out your ear plugs!!!