12 Stillman has a buyer, again

This house reported an accepted offer last month but it didn’t take. Today it’s got another accepted offer (or the same – sometimes deals fall apart and then come back together). Asking $4.450 million.

The Rockefeller development of Stillman and Sherwood is looking much less raw these days as trees and plantings mature. Most of the homes there – maybe all of them – have been built by Sean Shay and he crafts a very good house. The area has been whacked by the recession, though, perhaps even more than other areas. In 2007, homes here routinely asked $6.5 and up, even though they often ended up selling in the mid-fives, but the past two years have been tough. One built in 2007 and priced at $6.650 sold in 2009 for $4.850 and 10 Stillman asked $6.450, also in 2007, before selling for $4 million in 2010. Houses on Sherwood have fared no better.

So this one’s beginning price of $4.450 was a reflection of market realty and is now under contract in less than six months.

11 Comments

Filed under Uncategorized

11 responses to “12 Stillman has a buyer, again

  1. InfoDiva

    Competition for the new construction at 19 Angus, with the same builder and general gestalt and probably selling for $1 million less?

    • Less money, both built by Shay, Angus has a (much) bigger and better yard and I think the house is larger too. That said, $500,000 or so makes a difference to some people. Not me, it might as well be $50 million.

  2. Anonymous

    WOW! what a fool. 4.4 and no yard and a falling market.

  3. Anonymous

    Stillman is a great street. Shay built 3 houses in the little cul de sac. The first was bought back by the Rockefeller land company, the second sold 1 year ago for low 4MMs now this one. The houses are all superbly built. I think Stillman has better houses than Sherwood Farm Lane.

  4. “Buyer unable to perform”?! Maybe it’s time for Viagra to come to the rescue of the underperforming local real estate market. 🙂

  5. Anonymous

    This is an RA1 zone – how can they build such a large house on a 1.14acre property and not violate FAR?????

    • A lot of listings include the basement in the square footage calculation. I wish they wouldn’t because it makes comparisons by square feet impossible, except on a case by case basis.

  6. Anonymous

    For this one, the 8500sqft doesn’t include the basement – the listing specifically states there is an additonal 3000sqft basement. I saw the house at an open house a few weeks ago and it is huge. So the question remains: why can they build this on 1.14 acre in a RA1 zone????

  7. KMA

    This s house has little land but you can fit a pool. The rest of the back viewi is wood and a ditch. The property is inferior to say the least. Stillman is active, as construction has started at the end of the cul de sac. Gardner built the other homes on Stillman and he’s a high quality builder. The problem with it is Glenville Road and all the New Yorkers racing down towards Greenwich and vice versa. Its a speedway over there. But at least you have Glenville Pizza and Centro to go to and if you have any money left over…Rebecca’s.