Are we there yet?

137 Cat Rock Road

137 Cat Rock Road

Not for this house, not for this road, I don’t think. This house was built on land purchased by, I think, Jordan Saper for $1.050 million in 2000. He razed the existing house, built a new 5 bedroom septic system, then offered it for sale in 2005 for $2.350. Someone bit (LoParco, I think) and paid an unspecified sum for it in November of that year. This house was then erected and put up for sale last Spring for $5.495, while it was still being finished. It dropped 9% Friday to $4.995 million. It’s been a long time since anything of significance sold in Cos Cob and I don’t think this will be the house, at this price, to break that quietude.

UPDATE: out of curiosity, I checked high end sales in Cos Cob. There have been a few over the years. The Pecora brothers sold their own project, similar to this one, at 200 Cognewaugh for $5.250 in March, 2007, and another builder sold 4 Holly Way at its asking  price (!) of $4.295 in October, 2005. So perhaps this will sell somehwere in between those two prices. Perhaps. My own suspicion is that neither buyer could get anything like what they paid for their house now.


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3 responses to “Are we there yet?

  1. Dave Tilly

    I have watched this house as it was constructed.

    It is well designed and well built

    I am hoping that they rewarded for a job well done

    If all new spec homes were as good we would not have the problem we have

  2. christopherfountain

    Nice house, good builders, great land. Tough street, tougher market.

  3. anonymous

    It’s basically the same house as 3 Dunwoodie Place that Pecora built and sold in 2005 – in this market, for multi-millions, I’d think a buyer would want something more unique – and I’ll bet Tom Brown of, the owner of 3 Dunwoodie, isn’t too happy to see his house duplicated since he paid over $6M for his in 2005 – unless…he’s the finance behind this project…