Ridgeview Avenue foreclosure hits the market

9 Ridgeview Exterior

9 Ridgeview Exterior (question: if they’ll go to the trouble of photoshopping in clouds, why not make the weeds go away?)

9 Ridgeview Ave is now up for sale by the company that bought its paper, and asking $2.999 million. I’d be in no rush to pay that: the place has sat empty for four years and last time I heard of an inspection done on its carcass, the news was not good. The failed owners paid $2.3555 for this 0.98 parcel (RA-1 zone) in July, 2007 so there’s your land value as of the height of the market. The house itself? I doubt you’d find a builder willing to finish it, because of liability exposure and the uncertainty of what’s happened to the basic structure during its long period of neglect.

n.b.: there’s a $4.7 million mortgage shown on the land records for this place – no telling how much of that was actually advanced before construction was abandoned, but whatever went out won’t be coming back.

Stairway to nowhere

Stairway to nowhere

Screen Shot 2013-08-27 at 10.34.34 AM

9 Ridgeview

9 Ridgeview

16 Comments

Filed under Buying/Selling Greenwich Real Estate, Foreclosure, Mid Country, spec houses

16 responses to “Ridgeview Avenue foreclosure hits the market

  1. anon22

    I am often surprised how much of an abandoned project is still intact after several years left. I guess Greenwich residents are not looters. I see some nice french doors I could use. :-)

  2. Walt

    Dude –
    I love what they did with the living room. It has that comfortable lived in look. Did they use a decorator you recommended?
    Your Pal,
    Walt

    • Gee, fella, where’ve you been? Missed you for the Mr. Lee goes Hampton story, “Lie back and Enjoy it” Stephanie, and who remembers what else, but all up your alley, so to speak – we missed your probing analysis.

      • Walt

        Dude –
        I was hanging out with the obnoxious blue bloody crowd in Amaganaessett …in Ammaagaaanaset….in the Hamptons.

        They still fall for the “Pull my finger” joke!! Can you believe it? it’s the only reason I go!!

        Your Pal,
        Walt

  3. greenwich dude

    Great location
    Seems like a mediocre lot, but I’d think someone could build a beautiful home there.

    • It is a good location, and the house couple of doors down, #23, sold for $5.5 million this past winter after just one weekend on the market. Still if $5.5’s the number, a builder can’t come close to paying asking price for this one (the original builder idiots set their price at, first, $7.490 and then, with the wolf at the door, $6.990). Maybe $2, which is only a million less than the current ask.A homeowner might pay $2.5, but that’s risky, I think.

  4. Other Guy

    I’m surprised Ruth Jones didnt rent this out in the meantime.

  5. Is that particle board in the living room ceiling? I hope the bank realizes that the house is a tear down.

  6. InfoDiva

    Please educate me.Looks like it has a finished roof and windows. Was the house open to the weather somehow? I’m trying to understand why it’s a tear down.

    • At the very least, it’s sat unheated through four winters, which is never good for a house. And a builder who undertakes to complete it will have a limited idea of how it was constructed, so he’ll almost certainly refuse to guarantee his own work. That’s just for starters. It could be finished, or at least its foundation, chimneys and windows and doors reused, but a cautious buyer will probably just raze the place and start again. He would certainly be unwise to pay for any of the improvements currently on site.

  7. AJ

    Does the turret rotate, and is it artillery installation ready?

  8. Anonymous

    I hear large animals are inhabiting this property…