As we like to say in this business, “this one won’t last!”

And that’s usually said about listings that don’t sell, lending great amusement when the agent leaves the puffery up on its listing as the years roll on – almost as good as leaving up pictures of snow banked around a property that’s still available in September, 18 months later. But 505 Indian Field Road is 3.7 acres (2 acre zone) of direct waterfront in Mead’s Point and even at $8.750 million, I think it’s a great deal. There’s not much available in Mead’s, no waterfront, and certainly no other lot that’s nearly double the minimum size. There are a number of high-end buyers around who seem to lurk in the woodpile, darting out only when a truly unique property appears, and I think that will prove to be the case here.

7 Comments

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7 responses to “As we like to say in this business, “this one won’t last!”

  1. Matt

    It’s Mead Point not Mead’s Point. Just like it’s Belle Haven and not Belle’s Haven. Although it is Conyers Farm. lol

  2. TraderVic

    It’s a feeding frenzy down at the broker’s open house at Mead Point this morning. All those Type A’s almost mowed me down during my jog in the park.

  3. Anonymous

    Interesting to see so many recent sales on a cluster of homes on Indian Field Road. Surely not all were recently placed on the market! Specifically, 545 Indian Field Road closed on 5/18/12 for $10,600,000. Then,
    549 Indian Field Road closed on $11,000,000.
    Did the financial elite suddenly all decide to become neighbors or are they
    quickly investing money before we go over the cliff?

    • At least two: this one and 545, were estate sales and both owners lived to a ripe old age before leaving us, so I wouldn’t read too much into it. Mead Point remains my favorite of all the gated communities in Greenwich and that’s why houses there sell (although 545 did linger, due to its very high original asking price).

  4. Anonymous

    No pictures?

    • Not posted yet – the photographer was there when I visited this morning, so look for them later this afternoon. A small, very modest contemporary, just right for an old school guy like this one’s late owner, a friend of mine, who ran Banker’s Trust, but entirely inadequate for the new breed. This one’s coming down – the land, however, will remain.