End of quarter activity

58 Dawn Harbor

58 Dawn Harbor

This waterfront Riverside home was never listed but it sold today for $12.8 million. Not bad. Owner paid $12.5 for it in January 2004 but I do believe direct waterfront is the last best hope for anyone who wants to come close to breaking even on his purchase these days.

On a lesser scale, 236 Palmer Hill Road sold today for $1.140, which is nice, but the poor owner has had it on the market since July, 2006 at $1.495 and on down.

10 Greenway, in Glenville, was bought new via a bidding war for $2.02250 in June, 2006 and sold yesterday for $1.675. Win some, lose some.


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9 responses to “End of quarter activity

  1. BackCountryGal

    I’ve been in the Dawn Harbor home; great location, gorgeous house, unobstructed view. The new owner got a deal and a wonderful place to hang his hat. I’d even give up the BackCountry lifestyle for this place, other than I couldn’t afford a Waterfront Homeowners Insurance Policy. Woody Allen said it best….”Money is better than poverty, if only for financial reasons.”

    • christopherfountain

      A really nice house indeed. I was grateful to its builder, a Charles Bakes, because my friends at Cedar Cliff couln’t stand the noise of its construction and fled to France for six months, leaving me to house sit their own very nice house next door.
      But I’m with you – a good place to dump your money if you had this kind of loot.

  2. anonymous

    Interesting, over 5 yrs of use, losing money on waterfront in a well-built newer house (w/a relatively modest <$15MM price) near some fairly prominent neighbors

  3. BackCountryGal

    Que de bons amis à partager leur maison sur Cedar Cliff! Pouvez-vous leur donner mon numéro de téléphone la prochaine fois?

  4. anon1

    Chris, why would someone sell their house without listing it first to get competing bids? It seems with such an outstanding location as this house, there may have been other people interested if they had known it was available for sale.

  5. Riverside Roger

    what was this ….. another ‘private’ listing?
    I still can’t understand why people who want to sell their homes ask their brokers to just quietly put their house on the mkt..not to put it on the MLS…
    any idea if this deal was brokered? maybe it was on Craigslist, eBay??
    Beautiful home…great location…price confirms my belief that we’re at 2003/2004 price levels.

  6. anyway

    i believe the architect and builder was Alex Kaali-Nagy. Beautiful home—Charles Bakes was his client

  7. Old School Grump

    To Chris and to anon1 at 1:53:

    Chris, I can’t tell from your wording … was this house listed with a broker but shopped around very quietly, or was the sale conducted without any real estate agents at all? Where I live now (another time zone), the most expensive houses in the most desirable old neighborhoods frequently change hands without any broker involvement at all. Word gets around discreetly via friends and acquaintances, and a deal gets struck, usually with a buyer who already lives in town or who moved away but is returning. Buyer and seller both have confidence in the rightness of the agreed price, with neither trying to squeeze the last possible penny out of the other. (And it can’t hurt that no commissions need to be paid!)

  8. fred

    There was a handprinted ‘for sale by owner’ sign duct taped to the mailbox a few weeks ago.