Proving that, sooner or later, every house in Greenwich can sell, 35 Chapel Lane is reported sold today for $1.450 million. To say this house is challenged would be a gross understatement – in addition to the babbling brook sound of I-95 traffic roaring overhead, the property sits squarely in the coastal management/FEMA flood regulation zone and is going to encounter difficulties in any planned renovation, expansion or replacement.
$1.450 million must have appealed to these buyers as a reasonable price to pay for water views regardless of the trucks and car traffic intruding into the vista. And that’s fine – their money, their taste, their judgment. If they were somehow lulled into thinking the place was a bargain because at one point (2008) it was priced at a hilarious $3.5 million, then they were sold a bill of goods.
UPDATE: George Crossman XXXII, reader, fellow realtor and resident of Chapel Lane, writes to say this house is up high enough to stay dry and that it actually was a good buy. Hey, I’ll stand corrected, but I may stand in my Muck Boots and wear ear plugs while doing so.