- 18 Perryridge
This spec house near the hospital was priced in June, 2010, at $4.650 million, which had to be at least $2 million more than any previous sale on the street. Its builder has been nibbling away at his price and today, five price reductions later, it’s down to a mere $3.895. We’ll see if that does it, but I think he’s now where I might have suggested he start and even then, it would have been a very ambitious pricing.
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This house will be featured at tonight’s P&Z grade plane differential shootout in the FAR Hall of Shame.
Urbane: How did this house get built in the first place if its footprint is way out of line?
At $3.895mm and 5,300 sqft (Zillow) that is $735/sq ft which is on the high side of those I have calculated here over the past few weeks.
At the original asking price, that was $877/sqft.
Anyone else going to the festivities tonight? The Head of the GAR appears to have realized how this change might hurt homeowners – I mean, his wallet, if the change takes place:
http://greenwich.patch.com/articles/realtors-the-town-of-greenwich-is-making-you-poorer
The Feb S&P/Case-Shiller home price index is back at the low of the cycle reached in Apr ’09 which is the lowest since 2003. It’s down 3.33% y/o/y, about in line with expectations and of the 20 cities surveyed, 19 saw priced declines with the capital of central planning, Washington, DC seeing the only rise, that of 2.7% y/o/y. Phoenix again led the fall and homes there are now the cheapest since 2000. Bottom line, housing prices have double dipped and the only question is whether it breaks to new lows, which is likely and has further implications for bank balance sheets which do not reflect that assumption.
Will be occupied by a health care private equity investor rather than a doctor I suppose.
This house is so out of place for the street- How did it ever get built? The builder should be run out of town! He is just typical of who is moving in.
i heard if one is politically connected, one can build anything one wants, anywhere in the town of greenwich. are there any notable politicians living in close proximity to this monstrocity???