Don’t jump!

1-silk-roadHere’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.

3 Comments

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3 responses to “Don’t jump!

  1. Anonymous

    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.

  2. christopherfountain

    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.

  3. Cos Cobber

    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.