Great moments in pricing history aren’t limited to Greenwich

 

View from on high

Here’s a Ridgefield listing that demonstrates the same illogic that some realtors and sellers in our own town employ. Eighty-eight acres, beautiful views and a 1939 mansion that probably needs work – at least, the listing makes no mention of improvements since its bricks were piled up back there in the Depression. So far so good; this much land with views must be worth something, I guess, even in Ridgefield, but the price history reminds me of some of the bone-headed juggling that goes on here.

It started at $18 million 13 months go and eventually dropped to $11.5 this past July, where it lingered. Yesterday its price was increased to $12.5 and that raises two questions: if the house wouldn’t sell at one price for five months, why would it sell now for a higher price? And why, or more importantly who, would pay an owner $1 million more than he was willing to accept before? The mind boggles.

By the way, $10 million or so for 88 acres strikes me as a pretty good deal. Ridgefield’s a nice town and until the Greenwich back country estates are reassembled ( a topic I’m going to write about soon), pretty much unobtainable here, with the exception of Mel Gibson’s old place, at three times the price.

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3 responses to “Great moments in pricing history aren’t limited to Greenwich

  1. Anonymous

    not since owners perry and rosenstiel

  2. Atticus

    The Priceline founder lives on truly lousy land (vertical acreage) just below them:

    http://www.nytimes.com/2001/04/22/nyregion/asking-what-s-next-for-hole-on-the-hill.html?pagewanted=all