A deafening silence awaits?

28 Thunder Mountain

Maybe. 28 Thunder Mountain Road, over off of Riversville is for sale and asking $5.995 million. That seems like a lot, even if it did sell for $5.650 in 2008. It’s a very nice house,  as I recall, but I couldn’t believe this sold for as much as it did back then. In fact, isn’t this the one that was reported as “sold” (not by the current owners of course but by the builder and his agent) for something like $7 million and, when several of us exposed that as a bit higher than reality, was re-reported at $5.650, with the explanation that the house had been sold unfinished and that, when completed, the broker ‘estimated” that it would be worth over $7 million?

If this is the same house, then the current sellers must have put in a ton of money over and above the purchase price – that doesn’t necessarily mean that they should have. I guess we’ll see. (UPDATE: this house won an award for “best spec house in the $5-$6 million category”, so I’m guessing it was not the one with the phony reported price – you don’t win awards for an unfinished house, right?)

As an aside, do you suppose that just as one developer named the adjoining street “Memory Lane” because it terminates at a graveyard, this was so named because from the top of the hill (no mountains in Greenwich) you can hear the roar of the Merritt? It’s certainly true that, up Riversville just a small distance, “Hardscrabble Road” hots a tidy collection of bungalows. Truth in street names over there on our western side of town; I like it.

UPDATE II: Ah, it was 20 Thunder Mountain that the broker, Greenwich Fine Properties, if you care, first reported as sold at its asking price of $7.4 million and then was forced (oh the power of the press) to restate its sales price accurately at $4.5 million and add this to the final sales sheet:

PROPERTY SOLD IN UNFINISHED CONDITION. BUILDER ESTIMATES THAT BUDGET FOR FINISHED PRODUCT WOULD HAVE CREATED A FINISHED VALUE OF $7,400,000.

9 Comments

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9 responses to “A deafening silence awaits?

  1. AJ

    Worth $7 million when you make improvements sounds like pro forma fiction writing at its best.

    • As I pointed out at the time, AJ, why stop at $7 million? Why not estimate what it would be worth if finished with solid-gold plumbing fixtures and genuine Tiffany windows and report it at $15 million? Doug Stevens at GFP must have been kicking himself for not thinking of that.

  2. AJ

    Your genuine — as an old ad once said: the art print came with a genuine plastic reproduction frame, not a cheap wooden one — Tiffany windows reminds me of the story of one John List, an unemployed accountant arrears in his mortgage $11,000 dollars and about to lose his house, who would sit at the bus stop all day so that he could pretend that he went to work. His solution –made famous on America’s Most Wanted — was to kill his family and disappear. Later the house was burned down due to arson and the police found that the house had a Tiffany skylight over the ballroom valued at over $100,000 at the time (1971) which would have been the solution to all his problems.

  3. Real Estate Junkie

    The graveyard on Memory Lane is in plain site at the end of Thunder Mountain Road by the way. Creepy. And the house across the street from this one is for sale as well, correct? Maybe they’re all haunted? Just saying…

  4. Loose around town

    GFP has bigger problems than over pricing houses” by accident.”

  5. Looking in Riverside

    Granoff is excellent, but Glenville school? PASS

  6. anon

    anyone buying a $5-6mm house is not concerned about the public school zoned for the area

  7. Looking in Riverside

    Anon, they should care…it’ a 5-6mm house..NOT $10-12mm. Any buyer wants a contingency plan to private schools. Unfortunately Glenville deserves a discount for the area of town and the public school. Riverside rocks.

  8. Anonymous

    Looking in Riverside –

    Just because your kid goes to the “best” elementary in Greenwich won’t make him/her any smarter. It just means his/her classmates are smarter than your kid. Glennville is a very good school and your kids DNA is going to matter far more than any trivial difference between the education administered at Riverside and Glennville. They both end up at the same High School.