Quick, big sale

23 Ridgeview

23 Ridgeview

23 Ridgeview, $5.8 million, has a fully executed contract in just 13 days (and most of that time was probably eaten up by the lawyers, trying to justify their fees). Before I saw it I had my doubts about the sellers getting their price because this area is next to street with far less expensive homes. But it turned out to be an incredible home and I understand why someone would pay up to nab this location.

Nick Berile (York Development, Old Greenwich) built it and sold it while it was still unfinished for $4.2 million in 2005. I’m told that the owners paid Nick to customize it and brought in exotic workmen like a custom cabinet maker from Pennsylvania. All told, this price probably represents a break even proposition at best and perhaps a modest loss.

Not much of a yard (no yard, pretty much) but you’ve got the playing field across the street to lure the children away from Death Star: the Revenge of Doom, and there’s that location I mentioned. Everything inside is absolutely top of the line: very expensive and very, very attractive. Nice to see that there’s an active market for fine homebuilding.

10 Comments

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10 responses to “Quick, big sale

  1. The New Normal

    hurry, spring season around the corner!

  2. Anonymous

    Ha! Buyers could have had 504 North Street for the same price. Suckers!

  3. greenwich dude

    that’s a much nicer location and house than 504 north

  4. Anonymous

    Chris — do you know what the story is with 9 Ridgeview?

    • Tied up in debt ($3.9 million? – something like that). Neither owner nor lender wants to let go so the place sits there, deteriorating. Maybe this sale next door will inspire some movement, although I’m not sure what’s left to build with, given the year it’s been vacant and half-built.

  5. anonymous

    Free canoe with house? Bog.

  6. North St Owner

    Wow… This is the clear sign of a shifting tide and cannot be overlooked and summarily dismissed, CF. make sure to overweight this transaction on the next comps calculation for your clients…. Afterall you don’t want them to miss the Spring market entirely, nay?