Sliding down hill?

54 Sound View

54 Sound View

Those very nice spec condos on Sound View Drive haven’t been attracting buyers – I think two have sold – and today six of them had their prices slashed from a measly $100,000 on one unit (a cheaper one) to $500,000 on another, with cuts of $300,000 and $400,000 on medium units. These look to be very well made homes, and they enjoy a view of Long Island Sound, but they’re built on one of the steepest hills in town (15% grade, for you civil engineers ) and that hill serves as a thoroughfare for just about every truck that leaves Exit 3 on I-95 and heads for the Post Road commercial zone. That means downshifting on the way up the hill and brakes squealing (plus more downshifting) on the way back down. Couple that with the crush of non-commercial traffic that uses the same route all day and the precipitous climb for residents of the condos who’d like to walk to the train or lower Greenwich Avenue, and you have a marketing problem  even a $500,000 cut may not solve. I think I’ve heard, once or twice, that in real estate location is king. These condominiums may prove that once again.

6 Comments

Filed under Uncategorized

6 responses to “Sliding down hill?

  1. anon

    $2.8mm for a 4,400 sq ft condo? You can buy a nice home with a yard for less than that in Old Greenwich and still walk to the train without all the traffic.

    • christopherfountain

      But yu won’t have that hill to climb, anon. By the time you figure in the cost of a health club membership to make up for that lack, I’m sure yu’ll agree that these units are a bargain.

  2. stone fence

    I used to live right off of Sound View and can verify that it is unbelievably loud 24/7. Also take into account the constant drone of 95, plus the trains, plus the constant traffic down at the bottom of the hill. Yes it’s convenient to town, but it’s really, really loud. Buyer beware. Chris, I noticed some large concrete wall going up behind where a house was on Woodland drive — any idea what that monstrosity is going to be?

    • christopherfountain

      There’s nothing new in real estate, Stone Fence. These guys, seeing how fabulously well that builder with the Milbank condos below Whole Foods did, is duplicating his 2o’ retaining wall. Or that’s my guess.

  3. Anonymous

    “Chris, I noticed some large concrete wall going up behind where a house was on Woodland drive — any idea what that monstrosity is going to be?”

    Stone Fence was talking about the new 100 foot wall. What could it be ? It looks really dangerous.

  4. Old Greenwich Builder

    Yea, what is that wall — someone should ask some questions of the building department at town hall. Looks to not conform with building codes re wall height.