When good spec houses go bad

8 Hobart Drive, built on speculation (and a small plot of land) in 2008 and originally asking $7.8million, sold at a bank-dumped price of $3.675. I thought this was a good house, designed by Greenwich architect Aris Crist and located in an excellent neighborhood, but the builder was dreaming when he set his price and so was Patriot Bank when it loaned him $4.888 million. Oops.

6 Comments

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6 responses to “When good spec houses go bad

  1. GWChase

    That had to be the best buy in Town – looks like a beautiful house.
    GW

  2. 24601

    It’s off Glenville Road…ugh..one of the worst streets in Greenwich…too many New Yorkers heading to Greenwich going 100 mph..very bad.

  3. Hey 24601, you ever think they are Greenwich residents heading to New York??? Bedford is infused with CT plates, flying through the Village Green. Here’s “very bad” back’atcha! 🙂

  4. Cos Cobber

    Its absolutely laughable that someone thought this site could command $8MM house, even at the height of the RE boom in 2006/07. Its a fine design, however the quality of the house far exceeds the quality of the lot.

  5. Anonymous

    Kind of a strange looking one. Looks like it was designed not to waste any FAR credits. Still, that’s a ton of house for the money and a sweet location.

  6. Norman Rockwell

    Well done ot the architect, the interior is great.