New construction under contract

To be built - or not

To be built – or not

3 Elizabeth Lane, that dead end off of Riverside Lane in NoPo has a contract after sitting as an empty lot the past year. The list price was $1.895 million but because the house hasn’t been built yet I’m sure that price will be adjusted up or down depending on what the buyer specifies. 3,000 square feet plus a finished basement.

If a modest house at this location can command a price like this then I’d consider 114 Hendrie Avenue in Riverside proper, asking $790,000, as an investment property. Pay, say, $750,000, build a house (listing broker Tom Gorin suggests building “a modern-day Murphy house” which, as residents during the 60s will remember were cheap, indestructible homes, all of which are still standing)  and rent it out for the next twenty years at $8,000 per month to corporate executives. Yes, it backs up to the tracks and yes, the tracks here are not down in the noise-muffling trench that begins further on, but you’re 500′ from Riverside School and not much farther than that from Eastern and the train (assuming your tenant prefers to use the station, rather than hop a freight in his backyard). You financial wizards can do the math on this but it seems like a good proposition to me.

23 Comments

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23 responses to “New construction under contract

  1. Anonymous

    This property is very close to that district line. Either headed to cos cob or north mianus. I know a family down the street none to pleased to be living in riverside, on riverside lane, in a new construction, taking their kids to cos cob “above ground pool capital of Fairfield county” school.

  2. Just_looking

    Are you sure your rental input number is accurate?

  3. Just_looking

    Speaking of rE investments, what ever happened to that RR property up in NWern town, long and narrow lot?

  4. What Really Matters

    All of the Bullshit on this site is all well and good. When real life steps in, it shows how petty we often all are. Prayers sent to Newtown.

    • The actions of a twisted, evil psychopath really say nothing about us or even society in general. Awful, yes, but hardly enlightening. For example, Hitler himself offers no material for meaningful reflection- the embrace of this madman’s plans for destruction and genocide by entire nations does.
      So the Newtown evil doers is just that, and nothing more. We all grieve for those poor parents, which is why there’s no lesson to be applied to our country.

      • anony-moose

        Whenever another monstrous act like this occurs, and the usual media madness kicks in, I’m reminded of this piece. Despite coming from overseas, I think it’s just right.

  5. What Really Matters

    Agreed. I hate big gov’t almost as much as you Chris, but people seemed so sick in the head today, I think all schools k-12 across the country including Greenwich need an armed School Resource Officer now, even if it means property taxes going up. We’ll need on-duty cops in movie theaters. It’s crazy how a few evil psychos can make you not want to leave the house. Never thought we’d see the day 18 6 year old kids get murdered execution style.

    While it’s sick when the high school and college shootings happened, it just makes you want to cry when the kids are this small.

    • What baffles me is why and how mental illness can get twisted to such evil purpose. I understand plain old crazy- a little too personally, perhaps, but most sufferers just off themselves. What can possess someone, assuming you don’t believe in the devil and these days I’m not so sure, to decide to go out by slaughtering school children? Norway or Scotland or here, it’s the same, but I just can’t fathom why.

      • What Really Matters

        It might be too cliche to blame it on the lack of strong communities, good parenting, and an increase in societal anomie, but damned if I know. Satan makes about as much sense as anything else, which is absolutely none. Although it was a nightmare and beyond wicked, I can on some level rationalize the horrors of 9/11 (certain Islamist whackjobs believed America was the great Satan, WTC was an embodiment of “western imperialism” to their misguided minds, etc.). Similarly, I guess the awful OKC disaster made “sense,” in a horrible crazy way given Waco.

        Certain heinous acts, I guess, while entirely awful, are more “understandable,” I guess (like some of the IRA nutjobs for another example). The desire to hurt young kids in a classroom though, just serves no purpose and is entirely monstrous. Sad day.

        • Anon

          Obama made a real and touching comment about the shooting…..until the end when, true to his base, he politicized his remarks to ask for gun control.
          Very sad day and as I listen it seems the young man killed both his mother and father first.
          Someone commented on the news that all Connecticut schools lock down after the school bell rings. Is that true?

      • Anonymous

        Having access to a range of fire arms won’t help.

  6. AJ

    Hendrie has much less traffic than Summit or Wesskum Wood, Riveside Ave, Lockwood — all the roads from OG to Riverside. In fact, it gets almost no traffic at all.

  7. Walt

    Dude -
    Walt at 2:09 is not me. You peckerhead.
    Your Pal,
    Walt

  8. Westchesterer

    What is restriction on the deed of the house on Hendrie?

    • Real Torme

      Not much. No fences, no walls higher than 3′, no detached garages, that sort of thing. Other neighborhood properties have setback restrictions (all pre-dating the town regs) but not this lot. Not a big deal I should think

  9. Mr. Potter

    Let’s get down to more serious things like taking over the Bailey Building & Loan already.
    Everybody needs to live in my Pottersville.
    NOPO is a fine example of Potterville.

  10. KTCT

    No, Greenwich schools were not on lockdown. My high schooler had heard incorrect rumors, my middle and elementary schoolers had heard nothing- a blessing, maybe. I was with a group of moms at the time. We were all numb and happy when one offered a prayer. Sorry to digress.

    • Anon

      What I heard was that All CT schools lock their doors after the bell such that anyone visiting must ring bell or be let in. Lockdown was the wrong word to use.

  11. For you, yes. The natives are clannish and protective of their territory. Remember “Deliverance.”? Filmed at the Thruway Shopping Center.