Update on 186 Shore Road

Commenting on my first post about this property (below) a reader asked why I “waste my time viewing obviously overpriced listings”. Generally, I don’t – if I see a new listing that’s light years from what the street it’s on will support, I skip it, saving it for when the seller snaps out of it. But this property isn’t in that category – not entirely, anyway, and besides, it’s been built and listed by friends of mine, so off I went (the offer of free lunch might have played a small role in that decision, too.)

And I’m glad I saw it. The “water glimpses” I envisioned turn out to be great, sweeping views – across and down the neighbors’ driveways, admittedly, but the view is protected and it’s very nice. Stamford Harbor’s light house is part of the scene, which adds a little something. And the house itself is one of the best house for entertaining I’ve seen. An entire glass wall folds away, revealing those water views and opening to a terrace, with fireplace, that wends its way back to the kitchen – dining area so that the ground floor serves as a really cool party central. The bedrooms are nice; all but one has a water view, and decks and balconies abound.

What would I price it at? I’ve written the number on a scrap of paper and hidden it in my desk drawer or I would have if the Ikea special Frankie Futter provided me had a drawer. As it is, I’ll just say that I wouldn’t have been as confident of market conditions as my friends (did I mention these guys are my friends?) are, but they have enough experience and judgement that I’m certainly not going to gainsay them (publicly).  So we’ll just see what Mr. Market says and I’ll report that news when it happens.

17 Comments

Filed under Uncategorized

17 responses to “Update on 186 Shore Road

  1. Anonymous

    how many s.f.? how many beds/baths? and, hypothetically, if a very similar house was on the same street with similar views etc….and you were asked to list the house in today’s market — what would your advice be? oh, and the owner/builder of this house is not your friend!!

    • christopherfountain

      Probably about 9,000 sq. ft., I didn’t count the bedrooms, but there are a lot of them – 6? Including a nanny’s room? And, speaking entirely hypothetically abut a similar house – but not this one, of course – I might price it at $5.750 and see what happened.

  2. Wally

    Does this mean that the properties whose prices you criticize are listed or built by people that you don’t like?

  3. Front Row Phil

    Dear Anonymous —

    The man is entitled to have friends and to be influenced by them. At least he’s honest enough to let us know when it happens. I suspect the free lunch alone would’ve been enough to sway many realtors.

  4. Stamford lighthouse

    You can get a half acre+ waterfront property with a pool and a sunset harbour view (in Stamford) instead of sunrise harbour view (in Greenwich) and a 5000 square feet house in Stamford for under $4M. To each his own…

  5. Wally

    Anyone know if any other off-water house on Shore Rd. in OG has sold for north of 5? (I think views over driveways and roads to the H2O are also fairly common in that area.) If not, I would venture that this is not the market for setting new records.

    • christopherfountain

      Wally I just checked and I didn’t see any (some of the side streets may provide a different story but they don’t have traffic, either). But there is also very little new construction to compare this one to. So it’s a crap shoot. I know where I’d start and the boys at Greenwich Land know where they started and one of us will be proved rght or, just as likely, we’ll both be proved wrong-the only one who really knows the answer to this price is the guy who’s willing and able to buy it; the rest of us are just guessing what he’ll do.

  6. Anonymous

    Wally,

    A few years back there was a spec. home on the corner of Binney and Sylvan that sold for over 6m, non-waterfront, in fact not even glimpses. It was 6,000 or so s.f. incl basement. Recall also that a teardown on Keofferam sold for 4.5m on just less than .5 acre, with a backwater cove glimpse.

  7. Wally

    Well, it looks like a nice house, so it will be interesting to see how it goes. Thanks for the info.

  8. Riverside Dog Walker

    Isn’t this the house that has no yard? The house IS the yard.

    A realtor once, to my amazement, talked me out of making an offer on a house where the pool took up the entire yard. His point was that any house should have a yard big enough to at least throw a ball around with a kid. I’ve remembered that point ever since.

    Of course, once the Skip and Muffy wannabes buy this house, they will be busy entertaining inside and it will be nanny’s job to teach the kids how to throw a ball.

    I also like the stone wall in front on Shore Road. It is a very effective safety measure to keep speeding teenagers from running into the house when they lose control on the curve, as they otherwise would.

    End of rant….

  9. Walt

    Friends? FRIENDS??? You want friends, Weasel Boy? BUY A DOG!! (Wallstreet!!!)
    Plus you are a professional real estate agent (that always cracks me up!!) so you don’t have any friends. Deal with it. Just tell the truth. Like we at FGG have always done. Look at the money we made!!
    Your Pal,
    Walt

  10. South of Village

    The $2.6mm land purchase was a steal for 0.7 acres conforming lot in this location. Builder will make a profit.

    With no water view, the house would probably sell for $4 million and change. East-facing waterfront like 200 Shore sold for $8 million, so 186 Shore certainly can’t reach that level. So this east-facing off water view is probably somewhere in between those two numbers. $6mm is my guess, but it all depends on how much the buyer likes the view.

  11. Duffster

    7 little cove place (cove views) sold for 6.5m.

  12. South of Village

    went to see 186 Shore and got the full tour from the seller. this is a fabulous build with really nice views. Not counting attic-like space, crawl space (FEMA flood zone), etc., this is approximately 8,000 square feet. Bigger house than 200 Shore, but not waterfront of course. Elevator inside. 4th story coopola. I think it will go north of $6mm. maybe $6.5.

    also remember that 19 Meadow Place went for $8.5.

    • christopherfountain

      19 Meadow Place was direct waterfront with a sandy beach and a direct view down Long Island Sound, without neighboring driveways between it and the view. And it sold in what was probably the last gasp of the feeding frenzy that once was the Greenwich market. No waterfront has sold in Greenwich this year and I expect because it’s all over-priced. And 186 Shore Road, while a very nice house, is not waterfront.

  13. South of Village

    agree. 186 should go for less.

    however, the southwest-facing view from the Cove at 19 Meadow Place is perhaps not as charming as the east-facing deepwater view from the east side of Shore Road, neighbor’s driveway notwithstanding…