Old Greenwich sale

 

19 Benjamin Street

19 Benjamin Street

19 Benjamin Street, a 1964 split level last updated in 1980 but on a half-acre, $1.830 million. And it sold quickly: 58 days. I’m beyond being surprised by OG and Riverside prices.

14 Comments

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14 responses to “Old Greenwich sale

  1. InfoDiva

    Gotta love the 1960s kitchen and cheap paneling.
    There’s a bubble happening here for sure.

  2. Anonymous

    I dunno
    It’s 500 bucks/ sq.ft
    It’s really the low end of this part of town
    A lot of recent sales…lets say 12-15 months, riverside og, south of route 1 fetch easily 600-700/sq.ft with some new construction getting over 800$/sq.ft

    Dunno where Benjamin street is, but if its in the aforementioned then they got a deal, if its In the other side of route one, then ouch they got hosed.

    • Benjamin’s south of the village off Lockwood Avenue – nice neighborhood but one comprised mostly of homes like this which are pretty modest in everything except price. I’m not saying that the buyers paid a crazy price relative to current sales, just that current prices down in that neck of the woods continue to surprise me. I guess they no longer should.

  3. Anonymous

    yeah, the bubble is people buying real estate to rent out and earn 2-3% return, maybe, instead of the .25% at banks. that’s what a local private banker told me her clients are doing. it’s madness out there!

  4. Anon

    I love this home. Despite its dated kitchen it looks spotless and obviously well taken care of. I’d buy it for the sellers workshop alone. That’s the original man cave. Today’s dopey men want media rooms and wine cellars. Give me a guy who can handle a radial arm saw any day over a cashmere wearing fop.

  5. Anonymust

    looking at $/sqft for teardowns makes no sense – it should be about land value + some stub amount for the house (assuming someone could assign some minimal value to it)

  6. D

    Definitely a huge price for a home that, no matter how much you put into it, will always be a POS split level. Gotta love the location and the great property though (what a backyard!). These guys’ll be happy here – just need to close your eyes when you drive in the driveway, or plant a big tree out front :)

  7. Anonymous

    whoa i missed the photo with basement workshop. nice!

    yep, who give s !*&^%!# about the rest of the house. that’s for the wife to deal with.

    i’ll take the basement, including furring-strips-over-acoustic ceiling tile any day. small beer fridge in there too and it’s heaven.

    funny comment above about media room and wine storage. funny, but true.

    • Anonymous

      It is the same or nicer than what you get in mid country for the price. Has lots of rooms and with a little updating will be really nice. Split levels can actually be very nice houses even if there is prejudice against the style.

  8. Anonymous

    I don’t understand this sale at all!!! Buyers paid TOP DOLLAR!! I would live in mid or back country any day!

    • Guest

      Benjamin Street is walking distance to Old Greenwich town and school and also to the railroad. I came to Greenwich for the one acre property. Could have gone to Scarsdale if I had wanted less property. i guess Old Greenwich works well for some people.

  9. Enrique

    Buyer got 3500 sqft south of the village for $1.8…if they put $500k in this house to update exterior to something more modern and redo interior I believe they will be all in for $2.3 and that is about right at $650/sf for sotv. market only goes up from here so if they’re in it for the long haul they stand to do just fine. As for the comments on mid/back country being more value….well what about convenience of train, town and school in walking distance and beach a short drive away? You don’t get that in mid or back country and for a commuter (maybe they are) that is a dealbreaker. I think this house is a relative bargain at $500/sf all factors included. I mean the yard is worth $1.4 alone. No?

    • The choice between mid country vs. Riverside Old Greenwich does, is as you suggest, involve more than merely comparing yard and house size. Do you want a large yard and privacy, for instance, or do you value the ability of your children to walk to school or their friends’ houses? Walk to the train or drive or does it matter? If you already have friends in town, where do they live? And so on – there’s no right answer because people have different needs and desires. Fortunately, Greenwich is a large enough town to offer a pretty wide variety of choices.
      I’d be hesitant to put $500,000 into the existing Benjamin Street house for the same reason discussed here for that house on Highgate – the house is still a 1960′s design and no matter how much you put into it, the basic house will remain. For a classic house, that’s not a problem. For a 1960 split level, it is. Better, I think, to put half that sum into improvements and enjoy what you have, or start all over and build new. Either way would be economically justifiable, it’s just a matter of how much you want to spend and then spending it wisely.
      All of which is purely one man’s opinion, so ….

      • Enrique

        I think that’s well put Chris. it would be interesting to see what they get when and if they improve this house. If you have seen 7 lighthouse lane’s before and after you would be blown away…1960s split level with I’d guess about $500k put in…. They sold it for $2.3 or $2.4 I believe so it can be done is my guess. We all know you can make the inside of this house look great and if you could give it some curb appeal and maybe an A- frame dormer on the right side for example ill bet it could be pretty desirable. It all comes back to one thing in my mind…location…and they have it here. Yes there are some tired houses on Benjamin but the street continues its upgrades one by one as most areas of old greenwich and riverside do as ownership changes.
        Happy holidays to all!