Cos Cob continues to offer good relative value

9 DaffodilHere’s a sale reported today of 9 Daffodil Lane, off of Mimosa, for $1.8 million. That’s a lot of money, but compare what you get: one acre, newly renovated, pool, much more space, with some of the houses selling in that same range in Riverside. If Mimosa were a shabby neighborhood, I’d say it was an apples-to-oranges comparison but this area is very nice. Despite the cruel jibes tossed at Cos Cob by a certain mean-spirited blogger, there are some very decent homes out there worth considering.

93 Comments

Filed under Uncategorized

93 responses to “Cos Cob continues to offer good relative value

  1. Guest

    The truth is that some parts of Cos Cob are ridiculously undervalued. There is no rhyme or reason. It is just an inefficient market right now.

    Wait and see what happens in the spring when the migration out of NYC gets going in earnest starting this spring . In a stronger market, Cos Cob will be much higher.

    • Anonymust

      Guest 1:56pm,

      Your comment “Wait and see what happens in the spring when the migration out of NYC gets going in earnest starting this spring” explains it all.

      It will take unsuspecting out of town buyers (who will be taken advantage of) to fill the gap – rational or not there is a bit of a stigma to having a Cos Cob vs Greenwich postal address. Hence the difference in valuation. No different for Greenwich vs Stamford, Greenwich vs Westchester Co, etc.

      • Guest

        The migration from NYC is important because that is what is going to pick up demand. It is not important in the sense that people are stupid. I think everyone would rather have a Greenwich post office, but realistically, if the prices are almost double in Central Greenwich as they are in Cos Cob, there is an element of value in Cos Cob.

        There are other very real factors at play in comparing Greenwich to Stamford or Westchester.

        Stamford has less good schools than Greenwich. Much of Cos Cob has North Street/Central Middle, just like central Greenwich. Some of Cos Cob has North Mianus which is top rated.

        Westchester has high taxes and less land in many places. Only a few towns (Scarsdale, Bronxville) if you go to the Harlem or New Haven line have really top schools.

        The main thing that distinguishes Cos Cob from the rest of Greenwich is topography. In some parts, the topography is not even distinguishable from the rest of Greenwich (e.g., off Stanwich road). The main thing distinguishing off Stanwich is that it is a little farther from town than the rest of Greenwich.

        The Cos Cob zip code is a postal service creation. It has no other official meaning.

        People are leaving NY because it is too expensive. There is a brewing housing shortage.

        • Anonymust

          Assuming the schools are the same (North St/Central) I would agree that superficially the slightly farther distances are the only real difference other than postal code, especially for houses right off of Stanwich.

          On the other hand, the prices are what they are for a reason, and therefore tend to attract different types of people – that can be either a positive or a negative, depending on your station in life and opinion of those not like you….

        • CatoRenasci

          Is Cos Cob clubbable yet?
          When we moved to town ages ago, it was made quite clear that a Cos Cob address would be a distinct, and in some cases decisive, handicap if we were interested in any town golf, country or yacht clubs (other than the boating clubs on town property).

        • Cos Cob is not clubbable, for the most part. You want into that scene, first buy an overpriced POS in a clubbable neighborhood – that means nothing north of the Post Road in Riverside or Old Greenwich, nothing in Glenville, certainly not – snicker – Byram, and stay out of Cos Cob. Join your club and then move whereverthedamnhell you please: they can’t kick you out for living in the wrong neighborhood.

        • The Governor

          Incorrect facts being dished out by our resident real estate broker. If he were a member of any of the clubs in town he’d know that discrimination based on Zip is not a factor when assessing eligibility.

        • I was a governor of one of the clubs and I’m just telling readers what the snobs won’t.

        • Anonymust

          it is clubbable, just not any of the clubs that are difficult to become a member of….

        • The Governor

          The clubs have standards for a reason. If one is denied membership, the advice to “look closer to home” is not meant to suggest you examine your Zip….

        • Gov, I grew up at a club, I served on the board of governors of a club and I know how they are run and who they admit. Your egalitarian protests notwithstanding, wrong neighborhood means no admission. Period.

        • Cos Cobber

          Wait-wait-wait, maybe its me afterall?! I was perfectly comfortable I suffered from zip code discrimination and now you are telling me that its not true. Crap, then what are you saying – its me! Impossible!!

        • Relax, CC – yes, it’s you, but even if you were a swell guy, you’d still be excluded because of your zip so …

        • FF

          Its amazing how NYC prices are dependent upon construction activity. With building shut down completely in 2007-2010, they lost out on approximately 50,000 new housing units a year in Manhattan alone. Toss in rent control and stabilization inefficiencies and you’ll see not only the hoi polloi heading out, but the stolid middle class of Jamaica, Bay Ridge and Tottenville. But will a New Yorker gladly accept a Connecticut drivers license? I’ve lost clients who just couldnt make the psychic switch. I predict Westchester will be the biggest beneficiary as the tax issue is familiar and not the dealbreaker

  2. Anonymous

    “That’s a lot of money, but compare what you get: one acre, newly renovated, pool, much more space……”………I guess that is the point. People will pay to get less….fewer people want the cost of maintaining 1 acre with a pool plus more space to decorate, etc……….etc. etc. and Mimosa is 5-10 minutes to town……..

  3. Cos Cobber

    I think the market has the pricing exactly right. Cos Cob is fantastic, but will never – nor should it – be priced on par with Greenwich proper, Riverside south of US 1 or Old Greenwich south of US 1.

    As for stigma, wear it loud and proud is what I say!

    Btw, stigma be damned, this is one expensive little zip code for a negative stigma.

  4. Anonymous

    Those of us who’ve moved out of NYC with a $1-1.5MM house budget could generally give a rat’s ass what those of you who’ve been here for too long (and have nothing else to think about) in terms of Cos Cob (or other lower-priced Greenwich areas) having a “stigma.”

    Get over yourselves already.

  5. ajnock

    I can’t imagine anyone from Cos Cob ever seeking out your services given your relentless criticism of their neighborhood. I’m shocked you had something nice to say, even iif it’s confined to a single street.

  6. InfoDiva

    If the Post Office seriously downsizes, I wonder if the current zip code distinction between Cos Cob and the rest of Greenwich might well disappear some day soon.

    I smell an arbitrage opportunity here.

  7. Greenwich Mom, M&P

    Anonymust, it must be hard to be such a jackass. Believe it or not, Cos Cob has great restaurants, great parks, a nice library and wonderful schools. It is a desirable section of Greenwich that is actually sought out by many in order to be in a more central area that is in walking distance of shops, stores and restaurants. It’s people like you that give Greenwich a bad name.

    • Pot Calling Kettle

      I’m not against CC, Mommy, but let’s face it, Tomatillo and Dunkin Doughnuts are hardly “great restaurants”. But then again, it’s all relative and in the eyes of the average CC resident, that may be all you’re used to.

    • Anonymust

      It is actually quite easy to be a jackass – but calling me names doesn’t really change the facts:

      1) there is a difference in valuation attributed to the address and prestige associated with it – this is not just a Greenwich phenomenon, it is everywhere and the nature of real estate – and, in some circles, a stigma attached to that difference
      2) it is typically unsuspecting out-of-towners that make real estate “mistakes” when first moving to an area
      3) you mention “walking distance of shops, stores and restaurants”, but very few houses in Cos Cob actually have that characteristic (perhaps a number similar to the ones that are walkable to amenities in Central Greenwich); interestingly the house above is not within walking distance to hardly anything, so no different than living on Grahampton or Clapboard Ridge

  8. Anonymous

    you guys are all way too serious – the CC ribbing is just that – good old fashioned ball busting amongst friends. You can’t even do that anymore. Lighten the F up – all of you. Merry Christmas – and let’s hope it snows this week so the CC’ers can earn a little extra Xmas cash. LMFAOROTF

  9. Anonymous

    Hey Pot, karma’s a bitch. Watch out for the Cos Cob snowplow driver/resident who might not see you walking out in into the street from between cars on a blustery, snowy day.

  10. Greenwich Mom, M&P

    Adding to CC’s list: The Cos Cobber (perhaps named after our infamous contributor??), Fonda La Paloma, My Favorite Place.

    Chris, we get the joke and we have no problem with your CC bashing. We know it is in jest and you secretly long to live in Cos Cob. It’s just when pompous fools come along and write as if it was the gospel that it gets irritating.

    So yes, Virginia (and Anonymous), Merry Christmas to all and I will take that white Christmas. Alas, I have no snowplow in my CC driveway but who knows?? Maybe that will be my gift from Santa this year.

    • I’ve referred to it as Fondle My Paloma since 1970 or so. Never was quite sure what a Paloma might be but it seemed like it’d be fun to play with, so long as I wasn’t caught doing it.

    • Pot Calling Kettle

      I’m all in favor of Cos Cob. It’s the new Port Chester – the servants who work in Greenwich have traded up. Long may the rise of the working class continue.

  11. Guest

    Stanwich has always been a good value. A little bit cheaper than Greenwich but looks pretty much the same or even nicer than the other main north south roads in Greenwich. The negative is the lack of Merritt Parkway access. The positive is the lack of Merritt Parkway access. You cannot have it both ways.

    • Actually, Stanwich comes with a Greenwich address, so you can breathe easy. Cat Rock and Cognewaugh, however, bear the dreaded crimson “CC”. But you’re quite right about Merritt access – it’s a plus or a minus depending on your preference for less traffic versus ease of access. It seems to be about a 50/50 split so it’s a draw in terms of marketability.

      • Guest

        It is an absolute bitch getting to the Merritt from Stanwich, at least north of Fairfield. On the other hand, North Street is a highway. Stanwich is a lovely residential road. I fear some day an exit may open on Stanwich, and Stanwich will become the new North Street.

        In the morning, all of the work traffic from the north, east is coming down North Street. Impossible to get to the station at rush hour. The Lake Avenue traffic circle is also jammed at rush hour, so forget an easy commute from Lake or Round Hill.

        It may actually be quicker to travel to NY from Stanwich. Not sure because I have never taken that route, but would be a reason to look at Cos Cob if the commute is easier.. You can go either Orchard or Stanwich to the train.

  12. Anonymous

    Chris how is Fonda La Whatevah? I’ve heard positive & negative reviews. Never seems to be many cars there. Is it Spanish or Mexican or some combo Amerexican watered down spaghetti sauce for salsa?

    • Anon, I don’t think I’ve been To the place since I took Debby Pyper there for dinner one night in the late 60’s – we were so young we probably had to be dropped off by a parent. The food sucked.

    • CatoRenasci

      The food is atrocious – at least it was the one time I went in the mid-1980s. Theoretically Mexican, but quite inedible. Anyone who has had either decent Tex-Mex or or California Mexican food will feel as if they have been ripped off.

  13. Guest

    As a long time central Greenwich resident, we have our issues, Traffic, people not being able to afford their homes, highway noise, North Street traffic, people not being able to afford to renovate. No reason to believe that everyone in Central Greenwich is better off than most people in the big houses in Cos Cob. Not everyone has a great job. Not everyone has a snob house in Central Greenwich. There is surely a mix.

  14. Cos Cobber

    Cato, I can attest CC remains unclubable. Still zilch after all these years! Next year I’ll start using my office address with proper 06831 zip.

  15. KMA

    Cos Cob had Bella Nona and has My Favorite Place and Dunkin Doughnuts and a soon to be erected beautiful temple. That should dressy up the neighborhood.

  16. Anonymous

    Jos. A Bank?

    Buy 1, get 2 free!

  17. Riverside Chick

    Daffodil is Eastern Middle School district not Central.

  18. Walt

    Dude –
    What’s the difference between Cos Cob and Portchester? About 3 miles.
    What’s the best thing about Cos Cob? Leaving it.
    How do you get out of Cos Cob? Any way you can.
    What’s the difference between a house in Cos Cob and a doublewide? Doublewides are nice.
    Your Pal,
    Walt

  19. Anonymous

    Is it really the case that if you want to join Greenwich Country Club and you know members that living in regular Cos Cob would reduce your chance of being admitted? Or is that just part of the friendly Cos Cob hazing on fwiw?

    • In this instance it’s not Cos Cob hazing. While I’m overstating the situation for emphasis, the basic truth is that your chances of making it past the snoots guarding the doors of our most exclusive clubs rise or fall on where you live.

      • Cos Cobber

        The only possible Cos Cob exception here would be legacy status. We do seem to have a few very nice youngish (parents 35 to 45) families in Cos Cob who were raised in the backcountry and still have parents in the backcountry or are formerly of the backcountry in now in FL, SC or elsewhere.

  20. Riverside Dog Walker

    The food at Fonda La Paloma sucked the last time I was there 10 years ago; I even tried it 3-4 times. If you want good Mexican in this area, go to the takeout place on Apache Place behind the Mobil station. That is some good food and the prices are reasonable. Try the soup, pick up some guacamole and chips, etc. Don’t get the fajitas, they are terrible for some reason. Only bad thing on the menu. Wait, tacos are mediocre. But burritos are great.

    • CatoRenasci

      I agree that El Charrito is probably the best Mexican food in Connecticut – it is well-above average of what you would find for serious Mexican food in California. Very solid by serious Mexico City standards.

  21. Guest

    I think your job is much more important than where you live for a club. If you have a really good job, members of exclusive clubs will fall all over themselves to write letters to get you into the club. They want your business, to drop your name, to socialize with you, etc. Cos Cob address is not going to matter much at all if you have a proposer, seconder, 6 letters from members and the club has room.

  22. Walt

    Dude –
    Why would someone from Cos Cob want to join one of the high end clubs? They wouldn’t feel comfortable there.

    The high end clubs all have indoor plumbing. No outhouses. They use real toilet paper. No leaves.

    They don’t hold potato sack races, and serve real booze, no jelly glass moonshine. They frown on bib overalls, and the sight of plumbers crack really pisses them off.

    They think mullets are old school, and frown on face tattoos. If you want to get married there, they have a problem if the bride is your cousin. Or under 13.

    So the Cos Cobbers aren’t missing anything.
    Your Pal,
    Walt

  23. Anonymous

    I lived in Cos Cob for 6 years and have been in Riverside for about 2 years in a nice section south of rte1. Frankly I miss Cos Cob. It is extremely walkable – haircut, dentist, doctor, Kumon for my kids, basic food (my favorite place, Diner now Cos Cobber), Hardware store, radio shack, train station, fishing down on mill pond with my kids, tennis courts, boat down at town launch – you name it all within walking distance. In Riverside, I drive everywhere. The only thing I have in walking distance are tennis courts and Riverside/Eastern Middle schools. The center of Old Greenwich is crowded and difficult to get in and out of with a car.

    I moved to Riverside because I got a good deal on a bigger house, but frankly I think Cos Cob is completely underrated and Riverside overrated. There is probably a bit of a mix from the legacy it had back when it was largely a working class neighborhood. Most of the people I met who moved in recently were typical of Greenwich – bankers, lawyers, doctors, dentists, hedge fund guys, mixed in with people who were there for year so it provided a nice mix.

    I think people are missing the charm this area has to offer and frankly I regret not looking for a bigger house in the area…I also think people are focused too much on status of a Greenwich, Riverside or Old Greenwich address. Let’s see what the next generation thinks of this section..my bet is that becomes more desirable slowly over time.

  24. Anonymous

    I’ll join whatever club the Noel family is NOT a member of.

    • The New Normal

      unless your ancestors were on the Mayflower, you have nothing to worry about they wouldn’t consider you anyway

      • Here’s a revelation: most of the members are, at best, third generation late comers. But that’s something to celebrate (aside from the deep-seated insecurity so many of them suffer): in America, we are free to invent ourselves and if we succeed why, “our money is just as good as the next guy’s!” Older cultures like England will never let someone forget that his grandfather was, horrors, “a merchant”. I’ll take America, phony stuffed shirts and all.

  25. When we were looking to buy we initially avoided Greenwich given the stigma the whole area has for being a bunch of arrogant assholes. But the taxes in Westchester seemed ridiculous and that led us to look at towns in CT. The irony is that because there is truth to view that there is a lot of snobbery in Greenwich, that allows there to be enough stigma associated with Cos Cob so that there is actually some value to buying there. Basically get all the same ammenities as Greenwich proper (low taxes, reasonable commute, some great schools, shopping on main street, etc) but more house and yard for less money. And better chance your neighbors might actually be people you’d want to hang out with.

  26. anonymous

    Speaking of clubs, why is the Bruce Museum annual fundraising dinner dance being held at the Century Country Club in Purchase, NY, not at a club here in Greenwich? Whattup with that? Who are these people?

    http://fairfieldcountylook.com/index.php/parties/2152-bruce-museum-renaissance-ball-kick-off-party

    Greenwich is rapidly becoming just another Westchester town with lower taxes.

    • Cos Cobber

      Who cares if it was at the Century Club….yawn.

      I see “lottery winner” Brandon Lacoff attended the event in jeans….too funny.

  27. Anonymous

    Stanwich admitted a new member, first generation about 18 months ago. And the bulllshit about being a junior member for 2 years is just there to scare off the fearful, and keep the initiation fee to such a “prestigious” club at six figures.
    This guy was making twosome times on a Saturday morning in June.
    Once thought to be only available for founding families and anyone who joined before 1990.
    And to my point…
    He lives on Strickland road, in cos cob.
    And anyone who knows the clubs/courses around here, stanwich, in terms of its golf is as good as it gets.
    And yes, I’ve played every course in town, and most of the clubs in westchester, including winged foot. And stanwich is the clear winner.

    • Stanwich is considered one of the premier courses in the east, from what I’ve read, but I’m not a golfer. I hadn’t realized that Tiger had moved to Strickland, but I’m glad they made an exception for a Cos Cob resident, finally. Round Hill still holds the line, I understand, against “his type”.

    • G'wich Transplant

      How’s the Burning Tree course compare?

      • Other Cob

        Actually, come to think of it Burning Tree takes Cos Cobbers. I know of a family who joined sometime in the past couple of years.

      • Think

        not even close. Stanwich is the best course in the state and one of the best sets of greens in the country

      • The New Normal

        there are only a few (maybe 4 at most) courses in Greenwich worth playing over and over and 3 of them are north of the Merritt….

        • Guest

          In this economy, it is hard to believe that the clubs generally are not open considering more types of people than they used to as prospective members. The club is the first thing to go when the economy gets bad. If you do not golf or play tennis regularly, the club is not that useful once your kids are grown. You are not going to hang out at the pool when you are older. Are you going to pay thousands a year for a restaurant? I think a lot of people drop the clubs after their kids leave the fold, leaving annual openings for those with young kids to join for the few years that the club is actually useful.

        • The New Normal

          @ Guest 1:16pm,

          the more desirable clubs are not as affected by economic recession, as there is lots of demand for little supply

          it is the marginal clubs that suffer the most, and they respond by decreasing intiation fees, granting immediate golfing privileges, and generally lowering the standards of entry in general

        • Demand can depend on the economy, even at “the more desirable clubs”. I watched 5-7 year waiting lists melt away to nothing in the 80s, and that was at those same clubs. Hey, bad stuff happens, even to the fortunate.

  28. Think

    Sad that people have to base their self-worth on a zip code…
    All the snobbies should think about that when they look into the mirror. I’d advise them to put their energy into something useful and actually achieve something in life. Being successful in something meaningful and useful to society will actually give them the much needed confidence that no zip code can (or branded clothing for that matter…)

    • The New Normal

      sounds like someone who doesn’t live in a nice area or didn’t get into club of choice

      next you will tell us all that there’s more to life than success, fortune, fame, hot spouse, perfect kids….

      • The FBI’s tapping your phone, your hot spouse is screwing your contractor and your perfect kids are peddling oxycodone out of their lockers at Brunswick, but you knew that, right?

        • ….and your relatives and friends really can’t stand you. They only show up for a “nice meal”, a round of golf at your club or to check out your hot wife and daughter(s) by the pool.

  29. Anonymous

    Burning tree is nice if we are in a period of drought, otherwise there are several holes that require a canoe.
    The town will not allow them to dredge their ponds supposedly.
    This results in water runoff from the neighboring 3 square miles, and being the low point, it has nowhere to go.
    It’s basically a swamp, the range is pathetic, the clubhouse is overbuilt, and the back nine makes a scratch golfer feel like a hack.
    Now, who in their right mind would plunk down 100k for that???
    Oh yeah, those who want a family club in mid country, that don’t have time to play more than nine holes, and don’t really care or know what is, or could ever be a scratch golfer.

  30. Anonymous

    Burning Man is quite a course. I’ve played it a few times. Don’t remember much though.

  31. Anonymous

    BTCC is all clubhouse-no grass

  32. Guest

    Of course the desirable clubs are affected by the economy. We had neighbors in Central Greenwich who had it all going for them. Even members of one of the most exclusive clubs in Greenwich. Young couple. It all fell apart when he and a bunch of other people lost their jobs in one of the worst recessions years ago. Guess what they did? Horrors, moved out of Greenwich. The spot at the club became open long before these people would otherwise have dropped out. Other neighbors, members of another exclusive club in town, moved to Stamford when their kids grew up. Yes. Bad economic times and no kids at home affect even the best clubs in town, as the ones I am mentioning are.

    • The New Normal

      you didn’t mention which ones they were

      the difference for the desirable clubs is that for every dropout there are 5 people who would fill the spot if given the chance – at other places there may not even be 1

  33. Guest

    My experience in joining a white shoe club in Greenwich in the early 1980s was that they were actually very nice. They found all the members needed to propose and second us and write letters of recommendation. The bluebloods who interviewed us were kind, not demeaning. They did not ask me about religion, which I thought probably would be an automatic ground for rejection. They looked the other way. I was surprised. In Greenwich, the officers at this club were much nicer than groups we joined in the City, where we were asked all sorts of put down questions on intitiation. We do not belong any more. We did not use it enough, but honestly, I will always be grateful for the wonderful times we had at the club and how nice they were to us on that interview.

    • Like everything else in life, Guest, and as you obviously know for yourself, people come in all sizes and types. Some of the nicest, kindest people I’ve met I’ve met at private clubs – as you described, down to earth, genuinely caring and even funny. It’s the insecure types, to whom belonging to the “right” club is so desperately important to their own sense of identity, who make life miserable for those around them. I’m glad you met the better kind – to be honest, those are the ones I’ve (mostly) encountered too, but the stereotypical hysterics are more fun to write about.

  34. Catch a Falling Knife

    great thread here – posts about private schools, clubs and separation of the haves vs have nots always seem to attract a lot of response and great comments

  35. Anonymous

    could this be the most commented-on snippet in fountain blogdom history?

  36. Anonymous

    I’ve asked chris this same question before regarding number of comments.
    Hey chris!
    So, how about it
    Is 90+ the new record?