O Contempora! O Mores!

18 Chimney Corner Lane

18 Chimney Corner Lane

This perfectly nice contemporary sits right on the water and was built in 2000. It seems like top notch constrution and I really liked its floor plan, yet it won’t sell. It was originally offered for $18.5 million in April, 2005, perhaps a tad aggressive for a house that, despite its 6,300 sq. ft., held only 3 bedrooms. But still, that view …,

Its price dropped in increments until November, 2006, when it reached $14.9 million. That didn’t work so it was withdrawn from the market and returned in February, two months later, priced at $15.75 million – punishment for buyers too slow to have appreciated it before, I suppose. Surprisingly enough, that, too didn’t work and it’s been dropping ever since. Today it was reduced again, to $14.5 million. It doesn’t seem a far-fetched house to me, given its great waterfront location and the prices still being had for other waterfront despite our current market but the buying public obviously disagrees with my opinion and my taste. I really like contemporaries, especially this one, but I’m not in the market right now for any house, regardless of price. And those who are are balking at this one’s design, I believe.

3 Comments

Filed under Buying/Selling Greenwich Real Estate

3 responses to “O Contempora! O Mores!

  1. xyzzy

    Hard to get excited about a 3 bedroom house, even if it is 6000 sq feet…

    How does the house/land compare to the waterfront property that just sold in Riverside?

  2. christopherfountain

    I think you can add a fourth bedroom but obviously this was designed for empty-nesters who wanted to make sure their kids didn’t come home to stay.
    The views are better from here than the Riverside property, in my opinion (but a close call either way – both are very nice) and this one has a more convenient location but is noisier.
    Couldn’t go wrong with either, if the price were right. the Riverside buyers negotiated a price that was right for them (it wasn’t the full asking price, I believe) and perhaps someone can do the same here.

  3. xyzzy

    It has always seemed to me that if you are talking about waterfront property in Greenwich, unless the house is a great house, then really the house is worthless and its just the value of the land.

    Above a certain price people just aren’t going to accept a less than perfect home.