42 Midwood
This Deer Park property started at $11.950, sold yesterday for $6.850. A nice chunk of change, and well above its assessment of $4.240 million, but it must have been a tad disappointing for the seller.
Also disappointed, perhaps, but surely relieved, the owners of the new spec house at 88 Glenville Road have reported a contract. They first asked $3.6 million but had to drop its price to $2.595 before finding a buyer.
Update: sold for $2.491 million. It’s a good time to have cash.
For What It's Worth 
Interestingly, Midwood’s last ZillowEstimate appears to have been $5.3mm.
http://www.zillow.com/homedetails/42-Midwood-Rd-Greenwich-CT-06830/57309414_zpid/
Those are some pretty significant haircuts. Obviously, the buyers weren’t intimidated by wishing prices and had the fortitude to lowball with a vengeance. Then again, is it really lowballing or more like a reality check?
price seems more than reasonable at $750 per sq ft. decent sale if you ask me, but it is a VERY nice house, comps well with other houses in that range around here.
Don’t forget that it comes with a 17,000 square foot construction project next door.
I believe that the Glenville Road builder will be most grateful to escape with his shirt on. As long as it’s less than $1.4 mil build cost, then he can go on with a sigh of relief. 0.75 in an acre zone must be a dodgy prospect, not to be repeated.
nice house, eh?