Monthly Archives: February 2012

What’s two acres worth?

Not much, if its marginal land. 109 Dingletown has sold for $1.150, a drop from its 2009 asking price of $1.690. The house is livable but I’d guess it contributed zero to this price. The lot is located down a looong driveway which doesn’t get counted in FAR calculations, so you lose there, and much of the remaining land is cliff. But a decent enough, albeit very small back yard with a pool badly in need of repair.

I think – he can correct me – this was the exact price I told my client he’d pay if he wanted it. Turns out he didn’t.


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The day closes with a bang

20 Rocky Point

Old Greenwich waterfront on Rocky Point Road, accepted offer just a few months after coming on (and never dropping) at $14.550. Lots of people have lost their shirts in this depression but some have not. Great house, wonderful views.

Perhaps inspired by this sale, the owners of 10 Lighthouse Lane have brought their house back on, this time at $7.995. 1886 antique directly on the water, it wouldn’t sell at $3.350 in 1997, $5.700 in 2003, $9.950 in 2005. Fourth time the charm?


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Mandatory minimum

Marching for unequal rights

Malloy’s trying to go where no Republican Governor has been able to tread: get rid of the state law mandating a minimum number of state troopers. This political payoff dates back decades – no other state agency is required by statute to keep a minimum number of workers on its payroll and there’s no reason troopers should have such protection against layoffs. None.

But politics don’t change. Already Malloy’s fellow Democrats are seeking to postpone Malloy’s bill “for further study” Thirty years hasn’t been sufficient?


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Still climbing

We can use this stuff to fill in the Byram pool

$1o.7 million for soil removal from the Performance Palace and going up. Remember when they sold us (well, some of us) on this project with an all-in price tag of $23 million? Half of that’s gone before ground’s been broken. Say goodbye to the Byram pool.


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Well dang!

destined for Davey Jones' locker

The Monkee’s Davey Jones dead at 66. My childhood is rapidly disappearing.


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We’re tearing up the pea patch today!

A second sale has trickled onto the “sold” report, 172 Valley Road in Cos Cob, $700,000 on an original price of $1,496,500 in 2010. This 1916 model is surely destined for the dumpster but you can, it is claimed, carve two lots from its 0.66 acres, so a decent deal at $350,000 per lot. Rumor has it, by the way, one of the two heirs rejected a much higher offer a year ago – that happens a lot, especially when an out-of-state relative thinks he knows Greenwich real estate values.


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Asking isn’t selling – just ask Leona Helmsley (‘s ghost)

(A very large) white elephant

Bloomberg News claims in a banner headline that Michael Jordan is “selling his house for $29 million”. What’s actually happened is that the former star has listed his 56,000 sq. ft., 19 bedroom mansion outside of Chicago for that price. As Leona’s heirs discovered when they listed her spread here in Greenwich for $125,000,000 and eventually sold it for $30 million, just because your real estate broker suggests a sky-high price doesn’t make it so. Generally, those prices are suggested as a means for the broker to gain national attention and do the seller no good.

It’s possible someone may want this dodo and it’s even possible, however unlikely, that someone who can afford it will come along. But Chicago? Even Obummer can’t steal enough in the few short months left in his term to pay that much.

I’m guessing that the basketball star who will be dumb enough to buy this thing hasn’t even been born yet.


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