Another land sale on Riverside’s Hearthstone

View from 116 Lockwood Rd (photo may have been digitally remastered)

View from 116 Lockwood Rd (photo may have been digitally remastered)

It must the season to erase the founding settlers of Riverside, because here’s another property occupied by its original owner since it was built in 1957. 116 Lockwood (corner of Lockwood and Hearthstone) has an accepted offer. Asking price since last August was $1.275 million and I assume it’s selling for somewhere near there. Why a hundred thousand less than the by-now-standard Hearthstone/Bramble/Druid price of $1.4? I’d guess because, despite the listing’s description of this land as “level”, only a Swiss mountaineer could consider it such. Nothing a bulldozer can’t and won’t cure, but there’s work to be done here.

This will make approximately the 12th $3.4 million new house being built in this tiny triangle. Which will run out first, available teardowns or buyers in the $3.4 range? Wait and see.

11 Comments

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11 responses to “Another land sale on Riverside’s Hearthstone

  1. John from OG

    If it’s a builder better bring a blasting crew along with that bulldozer, which is why i suspect none of the builders jumped quickly. Did you sell it?

  2. Anonymous

    Builders can do this on tiny lots in RS and OG; a 4-5000sqft new construction sells over $3 million. Amazing but a reality.

  3. D

    That’s a real tough property on a busy corner. Will they site the house on lockwood? Or whatever’s left to call a yard?

  4. The only thing that matters is....

    are Riverside properties a bubble?

  5. KMA

    Riverside and Old Greenwich have always been the most expensive properties per sq. ft. in Greenwich. Riverside school and Eastern are fine schools and walking to Perot, the train and into Old Greenwich are nice too. Also remember, taxes are really low in Greenwich which raises the value per sq. ft. It’s a nice neighborhood. Although, I95 noise is so annoying and there’s no property for your dog or kids to roam or have a catch. I always went to the school yard, which is nice.

  6. bill w.

    Chrsi, congrats on the sale. I did not know you rep’ed many builders.

  7. Anonymous

    Riverside has become the new “Belle Haven”

  8. Anonymous

    Rumor is that it went slightly over ask to a builder…

  9. Anonymous

    I saw this house. The key Issue is that it’s a corner lot and only has 30ft of width to build. If you keep the house it needs at least $300k in work and you still have a house with no yard. I can’t see how this get’s close to what their asking. Riverside or not.