Just about my favorite house in town, 534 North Street, is finally under contract. This 1819 Federal is a treat to drive by and a reminder, however bitter-sweet, of what North Street once was. The price that did the job was $2.395 million (that’s the last asking price; presumably the actual selling price will be less). The owners tried to get $3.295 million last year but no one bit. Overshooting by a million bucks will do that to a house.
Under new listings, 5 Grimes Road in Shorelands (Old Greenwich) is up, asking $4.495. This was built in 1991, so probably didn’t get hammered by Sandy but much of Shorelands did. Readers? Experience? Insights? $4.5 seems pretty steep to me, but we’ll see.