- mmmwwwaaa!
Greenwich Post has an interesting article today on the staging and publicizing of 718 North Street, a house that’s been around forever. The stager/promoter certainly has some innovative ideas, holding an art show, moving into the place herself, decorating with better style than is demonstrated by other stagers, etc., but I don’t see how any of that changes the fundamentals.
This is a four-acre lot in the four-acre zone, so you’ve got whatever that is as land value. It is set way back off North Street – a plus, and has wonderful views of the reservoir – another plus.
But that water is a reservoir, so you can’t go near it: no fishing, drowning or canoeing. That’s a (big) negative. The house itself was built in 1932, renovated within living memory but still, in my opinion, adds nothing to the value. Tear it down or rebuild it, it’s all the same so far as value for this property goes.
And what is that value? Assessed value is $2.45. The seller paid $3.583 for it in 2001, tried selling it for $4.350 in 2004, dropped it all the way down to $3.2 this year then raised it to $3.3 this past September. None of that has worked. I’m siding with the assessor on this one.
Don’t they have 714 North in between them and the reservoir? I thought that one sold back in June for $3 million, another shocker!
But I agree with you that $2.5 million is about right.
but may be the owner thinks he knows how to time the market, like the owner of 49 N Stanwich!!!! They both have one thing in common…they have been trying to sell forever.
The only problem I have with this property is the house behind it. The reservoir view is also a house view. This is the kind of house that was coveted in the day. Sadly, few today appreciate something built in 1932. I actually think it’s a PLUS to have the water a reservoir. It means the state maintains it, not abutting homeowners. A pond is a pain to keep up and costs a ton besides.
Wrong URL at the embedded link. You forget your Wheaties this morning?
and true it is set way back off North Street, but it is also one house away from a construction company with plenty of their red trucks in and out of there every day…that is plenty of noise!
Shhh!
“But that water is a reservoir, so you can’t go near it: no fishing, drowning or canoeing. That’s a (big) negative.”
Party poopers. I loved that reservoir. Nothing finer than a dip there on a hot summer’s day. Best swimming in Greenwich, as I recall. Good times. Used to swim in the Mianus, too, but wouldn’t touch it now.
Is it still possible for the puppage of Greenwich to sneak in for a little splash? Or is it heavily patrolled these days?
I don’t know that answer to that, Ex-Pat. I’m no longer of an age where I can do those things and find out – not, at least, without looking like a seriously disturbed individual in the police blotter.
Well, CF, I’m really no longer of an age, either, unfortunately. I’d just hate to see the local puppage deprived of a youthful, joyous experience.
Maybe someone here has progeny between the age of 14 and 24 who might be able to tell us. Anyone?
Greenwich Time lined the bird cage with this one two weeks ago.
Really? So the Post, a competitor of GT, is recycling dregs from the other paper? Best thing that ever happened to me was the Post firing me for insulting Coldwell Banker. If I wanted to be a prostitute, I’d move to Nevada.
“If I wanted to be a prostitute, I’d move to Nevada.”
No need for that, Washington is a mere shuttle flight away.
Can you expand upon the “reservoir” comment? Why can’t you swim in it?
piranhas
Why so flippant? It was a legit question.
Jane, there are very few, if any (i cant think of one) reservoirs for public drinking water that allow humans to swim. Apparently while the fish are allowed to pee in our water, the humans cannot.