Hope springs eternal

24 Khakum Wood Rd

 

This place has been kicking around for a couple of years now, seeking $12.950 million. Its listing recently expired but it’s back today, same price. One factor that keeps Greenwich prices high is that many sellers truly don’t have to sell, nor are they eager to. Of course, that also explains our current dismal sales rate, but there you go. Assessment is $5.9 million. 

4 Bennett

 

The owners of this Old Greenwich house paid $1.9 million for it in 2007, when it was a complete wreck. They have renovated it and now put it back up for sale at $2.495 million. It’s possible that they put $600,000 in renovation costs into the place, but that still leaves the crazy price they paid for it at the market’s peak back in ’07. Discounting that to current values, I’m not as optimistic as these sellers. But I haven’t seen it yet (open house is Thursday) and if it’s a nicely done as its listing claims, I’d certainly recommend it to clients in that price range. So we’ll see.

5 Comments

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5 responses to “Hope springs eternal

  1. 4 Bennett looks pink in that picture. They didn’t paint the house pink, did they?

  2. The Broker Fixer

    In 2006, my best friend and her hubby were shopping for a weekend house (he private equity, ergo no real budget set for hunt). Their agent told them they HAD to live on Khakum Wood, that anyone who was anyone did. Fortunately, they are smart as well as rich, didn’t fall for her line, and found a great home on a street of their liking. I suppose it’s natural for a realtor when a wealthy client appears at your door to tell them what they should have and if you, the buyer, don’t know, how would you know? I guess that’s how 40 Zaccheus Mead sold!!!!

  3. Anonymous

    Fairly easy to figure out (esp in era of Net) on which streets (or buildings in Manhattan) notable HF or PE guys reside

    All realtors cost about same; would rather pay for a competent realtor who can offer useful local insights

  4. foobar

    no budget explains the idiot who paid 10MM for the house on Vineyard. Good for the brokers.

  5. Accolay

    Khakum Wood is very desirable, Broker Fixer, so I don’t get why you think the broker was trying to doop your friends. It’s not like the broker suggested Bedford Rd or something like that.