While awaiting election results here’s a bit of real estate news

50 Londonderry

Two Contracts, 50 Londonderry, asking $1.795 and 19 Benjamin Street in Old Greenwich,  $1.975. Londonderry last sold in 2003 for $1.729, so that seems about right and Benjamin? I’ve almost given up making sense of Old Greenwich prices these days.

19 Benjamin Street

6 Comments

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6 responses to “While awaiting election results here’s a bit of real estate news

  1. Anonymous

    R.I.P. U.S.A.

  2. Ernie Sadilic

    19 benjamin is 3500 sqft on a .5 acre lot for under $2M isn’t that considered a good deal? I wish i made this deal! Tell me what i’m missing chris

    • Well how are you valuing it? As a house, it’s an old tired thing that doesn’t compare favorably with newer ones asking $2 million. As land, a $2 million purchase price suggests a $4.5 million house, for an end user, a $5.5 million (or higher) house for a builder. Benjamin might support those levels – as I said, I’ve long since given up understanding the wild valuations of Old Greenwich real estate and just go with it – but I’ll never consider this “a good deal”. Someone else obviously did.

  3. Father o five

    Totally off subject but what happened with the old ole’s boat yard property? If you have any word I’d am interested in hearing about it. Send me an email.

  4. Ernie Sadilic

    That’s fair I guess. Having looked in the area for a loooong time I put about a $1.4M value on a .5 acre level lot in OG. Now I’m not saying that 1.975 is a good deal but its a contract right? So who knows what it closes for as of yet. I’d say anything under $1.85 is probably a pretty fair deal as you’d be getting this house on the low psf side for OG -SOV and for $5-600k of redevelopment on the house you’d be all in at call it $2.3 – $2.4M for nearly 3600 sqft. I think if you did something like they did over on 7 lighthouse from a architectural standpoint for example, that this house on a nice lot like this In OG south of the village, walking distance to school and village could probably have some good upside as a long term play – notice I said long term….if this were a remodel and flip in 3 years….no way! Do you concur? Always curious to hear your opinion as I’ve been a reader for a while…if not .what would be a good deal In your opinion?? would love to know for future purchase reference! Thanks! Ernie