Sign of life?

Peter Malkin’s house at 21 Bobolink Road, last listed for $6.9 million, has gone to contract. No word on price at this stage but I doubt the listing broker, David Ogilvy, enjoyed a bidding war – he’s had it up for sale since May, 2007 with an original asking price $2 million higher, but a sale’s a sale, so good for all involved.

18 Comments

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18 responses to “Sign of life?

  1. Phil Grimm

    If it went for more than $6.3M it should hit Monkey Boys magic $1000/sf.

  2. Anonymous

    Clearly the seller panicked. Means nothing……..

  3. Even Malkin can see the future

    If Malkin says it is time to move, follow his example. Downsizing? They gave a lot to Gwich-and got a lot out of Fairfield County in return. See where Malkin lands next-and follow. Greenwich is turning. DOWN, not up. You see it here with this transaction.
    Frankly, I never liked how his driveway to property drops about twenty or thirty feet to the front door from the road. But hey, what do I know?,,he’s got the 7 million.

  4. christopherfountain

    I thought it was a beautiful house but it’s going to need a lot of work. When whoever is buying it finishes modernizing, if he does careful work he’ll have an exceptional property – in my opinion, of course, but I’m a sucker for these grand old homes.

  5. gideonfountain

    Yes! Today’s sale on Bobolink Lane is exactly that, a “sign of life”! The market is working. Over-priced houses get reduced, then sell. Isn’t it wonderful?
    By the way, contrary to (real estate expert) “anonymous’s” assertion, that particular seller is possibly the LAST person in town who would ever have reason to “panic”.

  6. CEA

    Even Malkin Can See The Future:

    I was taking a break from posting, but in this case I have to defend family friends. Isabel Malkin does not have breast cancer, so stop throwing around things you do not know. And for your FURTHER information, they moved to an apartment in-town, because they wanted to be able to walk where they wanted to go, their children were grown, and they did not need a house like that any longer.

    And Peter Malkin owns lots and lots of real estate in Manhattan. And it’s dropping like a stone. So go ahead and follow. Dammit, you made me mad with all those falsehoods. Idiot.

  7. I am really, really sorry to hear about Isabel’s illness. She looked just fine the last time I saw her a few months ago. Where are she and Peter moving to? They will be greatly missed here in Greenwich.
    [ Bill – she isn’t ill and the Malkins aren’t leaving town – bad post, since edited – CCF]And Chris, I’m with you. I love these older houses. Me, I wouldn’t change a thing. If it was good enough for the Malkins, it’s good enough for me.

  8. anonymous

    Seems awfully expensive for ~2 acres of unremarkable land w/a tear-down….kudos on finding someone willing to pay….

  9. fred

    I don’t think Mr. Malkin has any reason to panic either $$$. He knows the market probably better than most. He should.

    CF is in my humble opinion absolutely correct about this exceptional property. Beautiful stately home, solid superb prewar construction, just 2 acres but very private due to exceptional landscaping, quiet dead end street and close to town.

    Greenwich has more than its fair share of tremendous exceptional properties that garner premium prices, as they should, even with a +20% price reduction. I’d think that Mr. Malkin bought the home, way back when, for the long term prospect of raising a family and now that it is no longer needed as such, he could afford to sell at whatever the market dictates.

    However, this writer gets a little miffed when one see’s “a WW2 returning vet” home with an outlandish price tag on it. Imagine a home that sold for 20K 40 years ago now with a price tag of 1.5 Mil. Its ridiculous. More like ego for sale than anything else.

    I can understand how a property like Mr. Malkin’ can appreciate to a large degree but not how others think they can ride the same price curve. Low taxes, good schools, 06830, and 99% white are a selling point, but not at the prices we have seen, for frankly, the run of the mill in Greenwich housing.

  10. Whew! Glad that Isabel is fine, and that they’re both still local. They’re such pillars of the community that the town would probably collapse without them.

  11. CEA

    IIRC, it is NOT just 2 acres. The Malkins bought the property/house behind them years ago, knocked down the house, and donated the land to the Land Trust. So it is really 4 acres total, you have 2 completely private acres that will never be built on right next to you.

    So – “anonymous @4:34pm” – go educate yourself. Crap, these ignorant posters are annoying me today.

  12. fred

    “Seems awfully expensive for ~2 acres of unremarkable land w/a tear-down….kudos on finding someone willing to pay….”

    Its called class. Something you very apparently lack.

    • christopherfountain

      I’m with you, Fred, and that house is no tear down, ever. Classics shouldn’t be torn down. If you don’t like great taste, don’t buy the place and trot your awful plans off to a lesser property.

  13. Stanwich

    You can put lipstick on a pig, as we all learned this past election cycle, but it is still a pig. Tear the pig down!

  14. no name

    Funny: Had Peter listened, since he is a “wise” commerical building owner, he would have first priced the home at $5,900,000 and received $5,9 or even for sure $5.5. Value was only $6.2 at list anyway. He screwed himself but taking an offer without first testing a lower price and creating a bidding war.

  15. Anonymous

    malkins sold the house to a new family to greenwich named the yih’s. they come from winnetka, il a pricey chicago suburb. they said they sold the house for a lot less because they loved the family. lucky guy.