Moving day at Conyers Farm
22 Watchtower, Havmeyer, $1.435, 44 Upper Cross Road, 22 years on market, $8 million, and 7 Zygmont, Banksville border, $999,750 [why? - Ed]. That’s it so far.
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For What It's Worth · Greenwich, Connecticut real estate, politics, etc.
Watchtower surprise you at all? That’s a big number for Havemeyer… even with a half acre…
Not really surprising to me – there have been sales approaching $2 million before, though that was new construction and during better times. Still, this one was in a good price range – low inventory, lots of demand, decent house in good condition. And Watch Tower’s a nice street.
Hey, also, on Zygmont, this makes me think that when you hit $1M that CT state transfer tax applies on the whole amount? Any idea how that math works?
D, they keep changing the rules up in Hartford so I just leave it to the closing attorneys to keep up, but there’s one tax rate for one price, a higher tax for the next step up, like ever-increasing marginal tax rates. I do believe that this tax was first dreamed up by the Democrats to whack the Gold Coast and the first $500,000 was tax free, ensuring, then, that only Greenwich, Westport, New Canaan and Darien would get hit. When inflation pushed all houses in Connecticut above $500,000 the Democrats didn’t raise the threshold, naturally, they kept the tax on the $500,000 so they could tax their constituents and invented a new, higher bracket so that the Gold Coast would still receive special treatment.
On Zygmont, its possible your house could be part in Stamford, part in Greenwich and part in North Castle NY. Taxes for all?
8 million for 23 acres in Conyers still worked out well, despite being for sale for that long.
Chances are, and Chris I know you probably have the number, but the seller most likely paid less than 1/2 that amount.
Then again, anything bought around here 20+ years ago has at least tripled.
Famous street:
7 Zygmont was a nice house. Lousy location but a lovely home. Plus the added perk of free baseballs that crash through the kitchen window form the park next door.