28 Brynwood is the price cut, and now asks $3.750 million, a whopping $100,000 less than it asked for yesterday. This is just silly – the builder who so foolishly started this project is long gone, the idiots at Ulster Bank who loaned $3 million and an additional $1. 6 on the property back in 2002 are probably down in Washington working for the government – their bank has long since folded – and the house has sat half finished and open to the weather for over a decade. You want a frame and a slate roof on two bad acres of land that are literally on top of the Merritt Parkway, be my guest. I say $1.1 million, tops. Since the folks who paid two cents on the dollar to buy this loan’s paper are out nothing, they’d be fools to reject an offer in that range, but they already have. Even the dullest work-out drone at one of these firms has heard of Greenwich and “knows” that 2 acres of Greenwich land off Round Hill Road must be worth millions. This is not that land, but that’s why the guy making the decisions is stuck at the pay scale he’s in.
46 Orchard Place,
Cos cob Greenwich [ my mistake] started at $1.895 million in 2004 and in the 9 years since has been on and off the market. It’s back today, at $1.575. The owner has written (see comments below) detailing all of the improvements made since 2005, so you should probably take a look, if this house and neighborhood are in your search parameters.
31 Bush Avenue, Belle Haven, is also back for another go, having failed to sell for $8.850 million in ’07 and subsequent years. Today its owners will settle for just $6.950.
286 Round Hill Road was priced at $5.375 in 2009 and now, with a new broker, new price, and 787 days on the market under its belt, it’s at $3.550. Meh.
And not included in the link above but who cares? It’s been around forever, spec builder General Tsoi’s house at 36 Montgomery Lane is listed as new for $3.295. Tsoi couldn’t sell it at $5.4 million, Patriot Bank didn’t even try, the group that bought the loan from Patriot failed at $3.495, and now this. It’s not a bad house, if you understand that you’ll want to rip out all the marble and bathroom fixtures that Tsoi bought by the midnight truckload from Chinatown and festooned all his projects with, and you and your mountain goat can deal with the driveway. Decent yard, decent quality construction, it seems, minus the choice in finish materials. And if you like taupe, you’ll find 6,000 square feet of it here to admire. The paint was probably on that same truck, priced right.