Waterfront still sells

45 Byram Shore

45 Byram Shore

This is a beautiful, 1896 house on Byram Shore Road that was purchased for $5.375 million in 1999, completely renovated over the years since then and put up for sale at $13.250 million in 2008. From what I understand, that sum represented a loss to the seller but 2008 was not the year to try to recapture that money. It finally went to contract July 1st and closed today for $8.5 million. That’s obviously a very large sum of money, but also represents an excellent buy, considering replacement cost and the 1.85 acres in an R-20 zone. Assessed value is $8.434 million.

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One response to “Waterfront still sells

  1. xyzzy

    This can’t make the people who are trying to sell properties with marginal water view happy. I don’t think any of them are looking for assessed value.

    That was a great piece of property with great views. Heck the house was used in the movie the “Good Shepard”.