Still waiting

21-corneliaThe 2 acres of land on which this house at 21 Cornelia Drive sits were purchased in July, 2003 for $2.1 million, not a crazy price for such a convenient location. It took a couple of years but in September, 2005 the buyer/builder offered up his creation, a 9,400 sq. ft. house, plus basement, plus pool, tennis court, plus plus, for $11.750 million. To this eye, that seemed -well, “unexpected” should cover it. There have been seven price reductions since then with the latest coming this past July and the house is now asking $7.450 million, 37% off. To its builder, I’m sure this place is still considered new; to buyers, it’s three years old and that won’t help. This seems to be an excellent house, with lots of amenities and, as I said, a very good location, so probably the only thing wrong with it originally was that price. Now it has age and a falling market working against it too. One reason I sleep well at night is that I haven’t been carrying a place like this around since 2003. Ouch.

2 Comments

Filed under Buying/Selling Greenwich Real Estate

2 responses to “Still waiting

  1. Anonymous

    Adding a little salt to the wound is the fact that next door sits an undeveloped lot. Who is going to want to spend $7M knowing that 1 +years worth of construction noise and vehicles will be happening in the immediate future.

  2. Anonymous

    I saw this house when it first arrived on the market. I thought he is crazy even in that old market it was way over priced. Yes it has alot of nice amenities pool, court , but not for that #. Who wants to live in Greenwich and be on top of your neighbor . I dont want to open my window and reach out and touch the next house . Sorry I think he will be sitting with this for a long time.