Here’s a computer generated image of a new house proposed for Sachem Lane in Cos Cob, priced at $3.450 million. Surprised by that sum and wondering if Sachem can support such a price? The would-be builder may be having his doubts too because he is also offering it as unimproved land for $1.299 million. I haven’t seen the land yet (open house tomorrow, which, given the statusof the construction should probably be termed an “open field”) and, because the builders have given it a made up address – “Silk Cut” or some such thing – I can’t locate it precisely on Google. But I would guess it’s land that was carved from the 1855 antique on 2 acres that was sold for $4.0 million two years ago. That was a nice house with a beautiful yard and if that’s what was chopped up to give birth to this one, I wouldn’t count it as an improvement.
But it hasn’t been built yet and perhaps it won’t be, until the market turns.
For What It's Worth 
The name of the road, according to the gigantic street sign is “Silk Rd”, if you turn off of Sound Shore onto Sachem , it is on the left just past Station Dr/Intrieri Rd. It looks like a little private road that has just been paved.
Actually, I knew that; I was just having a little fun pretending to confuse it with a pipe tobacco cut. Private joke between me and myself, I suppose.
Let me warn you, you are treading very close to my area of Cos Cob and in this zone, only nice things can be said. I kidd of course. Fire away, I am ready for your keen eye.
This Silk Road (yuck on the new street name)property strikes me to be yet another ill fated spec development. They have taken a beautiful and rare oversized interior home site and chopped it into 3 lots at about 1/3 an acre each. So far, I thought they managed to sell one lot a month ago, am I mistaken?
For my neighborhood, I hope for the best, but I am a bit of a pessimist for its future.