Belle Haven contract

25 Field Point Drive (ML# 72939) came on in February, 2007 for $12.5 million, slowly dropped to $10 million and is reported under contract today. Lovely old house. Assessed value is $6.1 but I suspect it will go closer to asking than that. The money is still around and some people are spending it.

9 Roberta Lane, new construction (ML# 73090) has been reduced from $3.595 to $3.390 today. I’m sure it’s a nice house but I’m queasy about even the new price on this street. Someone has to be a pioneer, but my mother’s grandparents were and they were killed in the Great Meadows Massacre, sponsored by the Mormons. There’s a Mormon church in Greenwich, I believe, but not on this street. Still, can’t be too careful.

6 Comments

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6 responses to “Belle Haven contract

  1. Anonymous

    what’s wrong with roberta ln? close to a cemetery?

    • christopherfountain

      Well it is close to the cemetary but that saves on burial costs. No, the only problem I have with the street for this price is that the highest price paid was for 19 Roberta, $1.250 in 2008, 410 days on market. The only other active listing, no. 15, is asking $1.675 and hasn’t sold. I understand that this one is new construction and the others aren’t (although 19 was renovated in 2008, for what that’s worth) but part of a house’s value is determined by the houses around it – just ask that chump on Dialstone in a year – and I, at least, woud be nervous paying 3X more than the next most expensive house on this street.

  2. anonymous

    Belle Haven illiquidity: 30 months to sell <$10MM of dirt

  3. Andrew

    so the buyer of 25 Field Point Drive could have, for the same price, bought 717 Riversville new 15,000 square feet house on 5 acres. Instead he bought 13,000 square feet 1907 house on 1.3 acres.

    So is it a bad investment to buy in backcountry these days?

    20 corrigan lane, 71 Richmond Hill Road, and 614 Riversville Road are just few of many examples in backcountry that are not finding it easy to sell.

  4. Old Green Warlock

    CF – Recall that Roberta and Buckingham are conjoined cul-de-sacs and I think should be viewed together when looking at street comparables. A house on Buck sold for well over $2 a couple of years ago. Although market has dropped, your reference to “3X” is too high – a matter of degrees rather than disagreement.

  5. Brother Brooks

    I hear 6 Guinea Road is also under contract as of Saturday.