Sales activity, sort of

19 Church Street W., Unit #4 (in Byram, not central Greenwich) has sold for $172.500, the lowest price for anything in Greenwich that I’ve seen for awhile. Granted, it’s just 546 sf, and has just a bedroom, living room and galley kitchen, but heck, it’s a sale. Bought for $184,000 in 2004, by the way.

220 Overlook Drive in Milbrook has gone to contract. This came on priced at $3.495 million in October 2007 and never had a price reduction. Did the seller’s stubbornness wear down a buyer or did he finally throw in the towel and accept a lower offer? We’ll know when it closes. No property details because it’s a Greenwich Fine Properties listing and they like to keep the details of their listings secret. Is that why it didn’t sell for 15 months? I don’t know, ask GFP.

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5 responses to “Sales activity, sort of

  1. Doug Stevens

    Chris,
    I was directed to your blog to review comments made by you (in the above article) about my firm, Greenwich Fine Properties.
    I have no idea what you are referring to when you suggest that GFP “likes to keep the details of their listings secret” but I take strong exception to your implication that our efforts prevented a property (220 Overlook Drive) from selling for 15 months.
    We listed 220 Overlook on 10/10/07 as an “oversized lot. subdivision pending” This information was/is readily available to you as a member of the GMLS. We identified an interested purchaser in the spring of 2008 and spent the past 10 months successfully shepherding this property through the Town of Greenwich and Milbrook Asssociation approval processes. It is scheduled to close in mid march at a price level which both the buyer and seller are satisfied with.
    Your “shooting from the hip” style with inaccurate observations based on a fundamental lack of research is your business until it is unfairly directed at my company. That’s when it becomes mine. Please do me a favor. Going forward, leave any mention of GFP, good or bad, out of your articles. That way I can focus on managing my company and you can concentrate on publishing accurate information.
    By the way, always feel free to call me if you need any information about our listings. Many agents do when the need arises. I have offered this to you in the past but have never heard from you.
    Please don’t feel obligated to include this response in your blog, but it’s fine by me if you choose to.
    Doug

  2. Vicky

    Christopher, you have me thinking that IT MAKES SENSE for really inexpensive condos like 19 Church to be the liveliest segment of the market in the months ahead. Not what Greenwich real estate agents wish to hear, I’m sure! But think about 19 Church’s potential appeal to certain lucky young people and the (let’s cut to the chase here) parents/grandparents/trust funds that support them. If I had been hired to write the realtese copy promoting the place, I would have blended “bohemian charm” with “long-term resale/rental opportunity.” When you’re 24 years old, proximity to downtown Port Chester sounds pretty cool (as opposed to really alarming), and the check-writing-powers-that-be can chuckle warmly at their spawn’s sense of adventure while they enjoy the fact that it’s only $175,000, and it IS Greenwich. Can’t say the same sensibility would apply to some of the fiercely ugly houses in the area in the $350,000-$500,000 range that you pointed out the other day (with wonderful humor) that have ZERO allure. That money is out of kid-just-out-of-college indulgence range, plus it’s hard to imagine anybody actually wanting to live in them. So … why not give the under $250,000 boho-condo world a visit, and report back to your loyal readership?

    • christopherfountain

      I actually do try to see every listing -Getting all the way west to Byram can be tough some days when there are a lot of houses all over the rest of town but these days, that’s not an excuse. And great idea to go in with the idea of housig for a young kid or couple, instead of the typical buyer of two middle-aged folks with kids. I’ll do it and report back.

  3. pulled up in OG

    Subdivision! Quarry Knolls gonna expand into Milbrook?

    Looks like it’s in the back yard already.

  4. Prospective purchaser

    Dear Mr. Stevens,

    As a regular reader of this blog, I can assure you that it is Mr. Fountain’s satirical, tongue-in-cheek, perspective on Greenwich real estate, in-house/standing jokes and commentary on the real estate values which attracts and mesmerizes his addicted audience.

    It is not a blog which is relied upon for accuracy or a two-sided balanced arguments. For accuracy, serious readers know to cross-check details with your office.
    As a relative new-comer to Greenwich, I gave each of the Agencies opportunity to entice me as their client. From each of them, I received an identical recitement, evidently from the ‘Greenwich Realtors’ Handbook’;
    “All Greenwich schools are excellent, Greenwich property prices never go down….. and if they do…. they are always the last to do so… and the first to rise, blah blah blah…”.
    Mr. C. Fountain appeared the only ‘honest’ (and, accurate in hindsight) broker in town, offering another perspective to the then ‘positive’ state of the real estate market. He won my respect and as you can see by the readers who followed in MY footsteps, others’ also.

    What continues to amaze me, is how contributors to the website, view Mr. Fountains’ influence on the state of the real estate market, the pricing changes and the resulting sales as pivotal. I don’t believe that Mr. Fountain has any influence on the larger picture and certainly does not influence perceptions of your company. You do that yourselves in your interraction with clients.

    May I add, that I noticed 220 Overlook this week with it’s demolition sign up and work having already being started inside. My heart bled, as it’s only fate now is one far from what it deserves. And yes, I do believe in Preservation Orders.