Wyckham Hill Lane still not selling

8 Wyckham Hill

8 Wyckham Hill

Wyckham Hill is a dead-end development carved from the Babcock Property when that land was given (sold?) to the town for park use. It has the advantage of being close to town, the disadvantage of abutting the Merritt. Houses constructed there were pretty much builders’ specials meaning big but of middling quality. Prices climbed over the years to reflect the general rise in prices around town but now it seems you can’t give the place away; there are three houses for sale now, none of which is going anywhere.

This one at 8 Wyckham is a good example. It sold for $2,000,000 back in 1996 and $3.3 million in January ’07 (Dec. 28 ’06, actually, but let’s consider it a 2007 sale). The owner completely renovated it, adding a new kitchen, new roof, etc. and came up with a very nice, modernized house. She listed it awhile ago for $4.995 which, compared to other houses in its price range, wasn’t bad, but buyers have balked at the Merritt I presume and no one’s stepped forward. The seller has been aggressive about takig price reductions and today there’s been another one, bringing it down to $3.495. Assuming even a modest bit of negotiating, the place is back where it started and all those renovations are being written off. It now offers a whole lot of house for $3.3 (ish) but I still don’t think it’s hit its price. If I’m right, that’s bad news for the unrenovated house up the street which is asking in the $2s while the owner cools his heels awaiting trial for manslaughter. I bet that one goes for under $1 million. Which might be a good buy, actually – maybe you should make a bid.

10 Comments

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10 responses to “Wyckham Hill Lane still not selling

  1. BackCountryGal

    I don’t see the Merritt being the deal breaker here. Yes, there’s noise, but it’s not I-95 kind of noise. IMO, the problem is the development of Wyckham Hill. It’s not at all pretty and the houses have zero character. And I mean zero.

  2. Helsa Poppin

    It’s 10,000 sq feet on 4 acres. Zillow puts its worth at $5.8 million, with a low end of around $4 million (love those Zestimates; enormous price ranges that somehow entirely miss the true value). Very close to the Merritt; it must be deafening for the owner to drop it to $3.3. I agree it’s still overpriced. What it sells for will be kind of a pure exercise in valuation in today’s market. Stipulate that the house itself is perfection and the amount/quality of land is all one could want. It will all boil down to location, and this one isn’t so hot.

    BTW, what do you mean close to town? I think once you’re past the Merritt (even just past) you can’t really say that.

    • christopherfountain

      Helsa, if 5 feet south of the Merritt is “close” to town, then 5 feet north is too, in my opinion. Then again, I work in an industry where a puddle is called a lake and a polluted little creek that dries up each summer is, always, a “trout stream”, so ….

  3. anonymous

    4 acres in a bad locale can actually have negative value

    Can always tear down a used house on great land; can’t fix bad location/land

  4. Cobra

    When we purchased our home in ’86, the Weichert ad pictorial in the Friday Greenwich Time real estate section referred to the mud puddle in the back yard (since dredged and stocked) as a “skating pond.”

    The only creatures skating on that body of then gelatinous pond scum were crazed squirrels on juice (believed to have been illegal migrants from Cos Cob, since deported).

  5. Anonymous

    Wyckham Hill has some of the uglyest houses in Greenwich! No charm at all!! BCG is right- Zero character!!!

  6. From WHL

    Wow, so much condemnation for little Wyckhan Hill Lane! Makes me wonder what all the “character” and “ugly” house comments are all about. As a very regular reader of this blog, I can’t recall another instance of an entire street being condemned so readily.

    But here’s the thing, from what experience are these comments coming. Anonymous at 2:26 makes damning statement about the street but how many of the WHL house have you seen, never mind been in? I ask because I live here and can say that I have only “seen” about half of the 18 houses. From the street, the setbacks don’t provide much of a view of most, especially during the leafy tree season. Granted, the ones that are visible may be ordinary in a Greenwich McMansion sort of way but “ugly”?

    So I thought maybe a broker is making a judgement. But since early 2004, only five houses have been on the market allowing broker exposure and three of those are currently for sale.

    So I sit here and wonder why such a small street has garnered such negative views?

    Also, the Merritt noise is not so bad, except for those darn Japanese motorcycles…

    • christopherfountain

      In fact, WHL, there are some very nice houses on Wyckham, in my opinion. For the most part, they’re on the north side. The ones on the south do tend to be a tad garish though #8 is a perfectly nice Georgian sort of home.

  7. fred

    Chris:
    Any insight to how the property known as Wyckham Hill was accuired? As a wee lad that area was known as Babcock Preserve. There used to be a cabin directly on the lake, near where the grist wheel remanants are today. Great times there.

    The first couple of houses on Wyckham, to the right, back up the parking area of the preserve……hence, who’d wanna pay big money to have that in their back yards. And not for nuttin’, but the name of the street is kind of chintzy.

    • christopherfountain

      Fred, I’m pretty sure the land was reserved from the sale/grant of the rest of the property to the town. I remember when Greenwich acquired the Babcock property and I remember the old mill very well. Must have been 1970 or 1971, I think.
      As for backing up to the parking lot, I don’t see that as a big deal. I use the property a few times a year, especially for cross country skiing and rarely see much traffic there (of course, you wouldn’t expect to see much during a snow storm). Don’t know the origin of the name. I do think the houses here got a bid of an undeserved drubbing on these pages yesterday.There are indeed a few unfortunate examples of the builder’s art on Wyckham – there are also some very, very nice homes.