Tag Archives: Greenwich spec houses

Rent vs. sell?

A number of readers have sent in this link to today’s Bloomberg article, written by my friend Oshrat Carmiel, on spec builders who are renting their creations when they can’t sell them. The story starts with the lady who built … Continue reading

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The Changing Market

A reader asked what was happening to the spec house at 1 Birchwood Drive but as far as I know, the answer is, “nothing”. The property came on as a building site priced at $1,600, 000 in early 2005 and … Continue reading

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3rd time the charm?

The builders of this place must hope so because they just dumped broker number two and have hired Mary Crist of Ogilvy’s shoppe to try and move it. Mary’s a pal so I wish her luck, but I’m sorry she … Continue reading

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Would you buy this house for $6 million?

My own clients won’t. They don’t like the swamp that surrounds it and they don’t particularly like the street. I can see their point about the swamp, and I’m not madly in love with the layout of this place, but … Continue reading

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Where do new houses go when they die?

A reader has expressed surprise that this house on North Street could dream of getting anything close to its asking price of $8.950 million, notwithstanding its easy proximity to the Merritt Parkway and its exits. EZ ON/EZ OFF certainly works … Continue reading

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A cautionary tale for cash-strapped builders?

Circuit City is being liquidated, at a loss of 30,000 jobs and every penny of stockholder equity. This is the idiot company that fired all its tech-savvy employees and replaced them with minimum wage workers, the better to drive customers … Continue reading

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High end houses

I was out of the office much of the day today showing houses and it seems to me that there are still a lot of sellers who don’t understand what has happened to prices. They really should get out with … Continue reading

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Taking a hurtin’

26 Taconic is a nice house – it has its problems, but don’t we all? It’s been up for sale since September 2006, first at $7.895 and now, 2 1/2 years later, 25% less – $5.980. Buyers seem scarce so … Continue reading

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Trending down

49 Hillside Drive, new construction that’s been for sale since September ’07 (when it was still under construction) has drifted down from its original asking price of $5.990 million to, today, $4.989. That spares it from being included in the … Continue reading

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Builder’s Special

48 Parsonage Road was built on land that sold for $2,440 million in May, 2007 in what was probably the last hurrah for Greenwich land sales for the foreseeable future. The builders offered their new house for $7.850 in May, … Continue reading

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Lose your job? Cheer up, you could be a house builder in Greenwich.

Just to start the new year off on a cheerful note, I looked up some statistics for new, unsold construction that’s languishing on the Greenwich Multiple Listing service. There are, as of today, 54 houses built since 2005 for sale … Continue reading

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What are they going to do with this inventory?

Driving around in the snow today (my theory about mounting snows on my car keeping storms away let me down, this time) I was struck by the number of new houses still under construction, many of which are spec projects … Continue reading

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Second thoughts on 11 Lindsay Drive

When I mentioned this house yesterday I didn’t remember seeing it and so I was – reserved – in my opinion of value. A commentator who obviously had seen the place took me to task for my mild tone so … Continue reading

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I know, let’s put on a show!

 A reader informs me that the builder of 45 Upland Drive hosted an antique show/wine party there the other night, hoping, one supposes, to draw potential buyers. A house on Cognewaugh tried the same thing last Sunday. These events draw … Continue reading

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