Heck I don’t know, not after 247 Riverside Avenue (our busiest street) sold for $5.3 million last year (!). And at least two different builders are selling three different bits of new construction and asking $4 million apiece. Those haven’t sold yet but at least one of the builders is already on the prowl for new land so there’s a confidence there that surprises me – but since I remain astounded by that Riverside Avenue sale I’ll admit that I no longer understand the Riverside market.
All of which leads us to a listing that came on today, new construction at 42 Riverside Avenue (not Riverside Lane, as I just learned from the broker) priced at $1.750 million. This will be a house cheek-by-jowl to I-95, constructed with aluminum siding and an asphalt roof, on the aforesaid busiest street in Riverside and is assigned to the Cos Cob and Middle School district, thereby negating the possibility of the children walking to Riverside and Eastern (if kids still walk to school). One million, seven-hundred-fifty thousand dollars for that? Holy cow.
UPDATE: there seems to be some confusion, expressed in the comments below, whether this spec house is in fact located on Riverside Avenue. Some poor lost soul actually insists that he lives at 42 Riverside Avenue and it’s not only not for sale but it isn’t even under construction. I have assured him that he’s just plain wrong and probably is living somewhere else but he and other readers persist. Such delusions!