Bidding war sale, and a contract

 

8 Circle Drive

8 Circle Drive

8 Circle Drive, asking $1.495 million, has sold for $1.550. Builder/owner paid $722,000 for the 1,195 sq. ft.property in October of last year and basically build a brand new house of 3,057 sq. ft.  It looks like a pleasant house, but Circle is pretty much on I-95 (the railroad tracks intervene) and there was a time when this location wouldn’t have drawn such interest, at this price. Owners of other similarly afflicted homes should take hope at this development.

 

15 Baldwin Farms S

15 Baldwin Farms S

15 Baldwin Farms South, asking $2.525, reports a contract. A 1960s home that would seem to have seen its day come and go, I’m guessing it’s being bought for the two acre plot it sits on.

20 Comments

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20 responses to “Bidding war sale, and a contract

  1. Cos Cobber

    8 Circle Drive is a victory for the buyers and sellers. You will be hard pressed to find more new house for the money anywhere in Greenwich that also comes with a yard (that isnt shared). While I-95 looms, so does the Milbrook club in the other direction. Plus, this whole loop is clustered with families, so it makes for a nice kid oriented family enclave.

  2. Anonymous

    I love the land and free house concept that you have elaborated on in the past. Land appreciates, structures don’t.

  3. Anonymous

    I’m impressed someone can build a 3000 sf house that cheaply. $75k of broker costs, $100k of profit, there’s only $650k of cost to demo, build, carry. $220/sf sounds very low. I woudln’t mind getting the info of the builder.

    • And in fact, he priced it even lower. I didn’t see the product, but so much of the cost of a house is in the finish work, I wonder what level was installed?

  4. ML

    finish work looks mediocre. Inferior appliances, small mouldings, etc. Thst how he did it.

    • Anonymous

      really? why not post photos of your own house so we can get perspective.

      the photos look terrific. who knows if the fine details of paint/joints show flaws in person, it’s impossible to tell from the pics as is.

    • Cos Cobber

      Those trade downs might have saved 40 to 60k at this price point for this sized home. The same trade downs in the 3MM+ house price point with 5k+ sq ft turns into much – much – much bigger figures,

      Two places they saved is with the sitework/landcaping. The site was flat and ready to roll at the beginning, no extensive stone wall construction, grading, blasting, etc necessary. That’s another 20 to 100k saved depending on how fancy you want to be. They may have reused the foundation saving another 50-75k.

      This is a nice home – ready to meet the needs of most.

  5. Cos Cobber

    Per the link, CT has in last place within New England for job recovery since Dec’07. hmmm, but how could that be; we have Dannel Malloy and the Dems have a super majority in Hartford?

    http://ww3.hdnux.com/photos/30/76/51/6548074/3/628×471.jpg

  6. Guest

    I love the Baldwin Farms house. Needs updating in some areas but is my ideal house. Not understanding why this is a teardown except that builders can make money on teardowns

  7. Anonymous

    Interesting that Zillow lists “nearby schools,” not districted schools.

  8. Factcheck

    Unrelated, just came across this house, which you mentioned several months ago. It is finished, beautiful final product. Not at all a typical Greenwich new construction. The balcony can be used as a diving board.
    http://www.zillow.com/homedetails/265-Valley-Rd-Cos-Cob-CT-06807/57316390_zpid/

    • Cos Cobber

      that’s a very interesting house. its been under construction for what seems like an extended period of time. dont know how this baby meets the grade plan test…. it appears its a 6.5 stories of height difference from the dock on Mianus pond to the top floor. and the view looking up from the dock is rather intimidating

    • Broker open house tomorrow and I’m looking forward to seeing it.

      • Sound Beacher

        After tonight’s storms, hope that staircase to the dock hasn’t washed away. Wear a safety harness.

    • Anonymous

      Despite some downsides, it is a unique and beautiful house. The site has spectacular river views, but is highly exposed to the busy road and not the best locale on road either. All in all, a very cool house, but at what price?

    • Flash

      Now THIS is a child friendly house. I’ll bet the buyer plans to start a family in the near future.