Going out on a limb

So here, for the record, are my predictions of sale prices for the larger estates currently for sale:

Leona Helmsley: 521 Round Hill Road : $27.5 million

Mel Gibson – 120 (?) Old Mill Road: $19.5 million

30 John Street: $18.5 milion

North Street (whatever the address, the big brick mansion place with land, across from Dingletown): $8.5 million

5 Comments

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5 responses to “Going out on a limb

  1. Anonymous

    So, CF, what do you think about the RE article in today’s Greenwich Post in which Jean Ruggiero proclaims that the supply of ranch-style homes in town is far outstripped by the demand for them?

    “There’s virtually nothing available,” Ms. Ruggiero said. “There’s not enough product out there to meet the needs of the people who want this and it makes things very, very difficult. It’s clear from everything I’ve seen, if there were more ranch houses available with first-floor living then they would sell easily.”

    Interesting that the rancher on 2 Gray Oaks Lane featured in the photos in this article has been listed by Ms. Ruggiero for a year and a half. And also that Ms. Ruggiero has presided over a total of a million dollar decrease in the asking price during the life of the listing. And there it sits still for sale after all this time.

    Doesn’t her observation that “There’s not enough product out there to meet the needs of the people who want this…” call into question her sense of the market? Or has she just overpriced this property?

    • christopherfountain

      I love Jean, but I suspect her pending sale of a ranch on Mallard Drive for $800,000 more properly represents the market for ranch houses than does her Grey Oak listing which, as you note, has dropped (at least) a million bucks since first being put up for sale.

  2. Gideon Fountain

    Oh, limb-schmim! We don’t even have to wait to see if you’ll be wrong! What would you have predicted for these three major property sales from the last nine months:
    1. 25 Sherwood Ave., asked $21,000,000.
    2. 435 Round Hill(figer), asked $21,995,000.
    3. 1 Indian Spring Rd., asked $23,900,000.

    Well, we can all be damn sure you wouldn’t have predicted 1.$18,900,000 2.$20,000,000 and 3.$22,500,000.

    Say, who ARE you anyway? Are you sure you grew up in Greenwich, CT?? You don’t seem to grasp the price concept for these parts!

  3. duff

    http://www.acorn-online.com/joomla15/greenwich-post/realestate/homeoftheweek/7970-home-of-the-week.html

    From Foobar “390 RHR was rebuilt in 2003 after Bobby’s first builder put in defective landfill in the rear which caused the house to begin to collapse”.

    foobar, where did you get your information?

  4. Stanwich

    Bold predictions CF, I admire your pessimism.

    But I think Trouble/Leona’s pad and the Braveheart place will fetch more, they have a lot of land, beautiful old homes…they are two of the best grand estates on or off the market. 30 John Street looks really nice but I have no opinion.