Soft market? Jack up the price!

Undeterred by the lack of sales in the high end, including his own, the owner of 45 Farwell Lane has raised its price from $8.250 to $9.125 million. This house, on six acres with eight baths two pools (indoor and outdoor) and a tennis court, sold for $3.85 in July, 2010. The buyer updated those baths and other parts of the place and returned it to the market nine months later. Potential buyers apparently couldn’t quite see the $4.4 million of improvements but perhaps their vision will expand now that the price is an additional $900,000 higher. Hey, ya never know.


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7 responses to “Soft market? Jack up the price!

  1. Zip Stirling

    thats the locale where the old man parked the howitzer…….just up from the take off/landing zone. named the street after him too. always wondered if the developer John P Tesei was related to the current head prefect.

  2. Anonymous

    They are cousins.

  3. My rant

    Sold for $3.85 in July 2010, and is asking more than $9.125 after minor alterations? Good luck– FOOL!!!!

    Besides, looks pretty ordinary in a town of extraordinary homes.

  4. Peeps

    While cleaning my basement, I came across a copy of Westchester Magazine, dated October 2005, with an article on Real Estate mania, on the prices just rising and rising. It has Greenwich ads, too. It’s very interesting to look at the article on the rising prices, knowing what we now know.

  5. Anonymous

    Blockstopper says it sold for $5.15M in 2002 and that Judge Judy was an owner. I like the house from the online pictures and they added Cat 5 wiring so maybe the remodel was more extensive than first thought?

    It looks nice and private too, not sitting out on the road showing off for us lesser mortals. 🙂

  6. Anonymous

    @Chris, I’m stunned, what’s the new standard?