Even Riverside gets the blues

 

26 Bramble Lane (representative photo)

26 Bramble Lane has hit the market today, asking $3.395 million. The owners bought it new in 2007 for $3.725 and this price seems a reasonable recognition that 2007 and its prices are no longer with us.

9 Comments

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9 responses to “Even Riverside gets the blues

  1. Anonymous

    It seems activities in Hearthstone/Druid/Bramble have been picking up.
    12 Druid was sold higher than its 2008 price though.

  2. Anonymous

    26 Bramble seems very fairly priced–high-quality construction, beautifully finished, great layout on all 3 floors, lower-level is really nice, great backyard

  3. AndyD

    So i got a postcard in the mail (or was it in the paper?) about 26 Bramble, at the bottom it said “price subject to increase when listed with the Greenwich MLS”.

    Can somebody explain how that works? Do I not have to pay the full 5% sellers commission if the agent/firm I hire can sell it to one of their existing clients or something? Or does that benefit accrue entirely to the listing firm/agent and not the seller? If it gets sold before hitting the G-MLS, then presumably the buyers agent still has to get paid?

    Thanks for any details

    • The standard commission on GMLS properties in Greenwich is 5%, with half going to the listing broker and its agent and the other have split between the buyer’s broker and its agent. So it’s entirely possible that the seller’s broker was willing to take, say, a 3% commission, rather than 5%, so long as it didn’t have to pay anything to a buyer’s broker (known as a “co-operating broker”. Once it hits the MLS, buyer’s agents can get in on the action.

      But I’m curious: was the price on that postcard you received less than the $3.395 now being asked or was it just the usual broker’s hype, trying to drum up a buyer without having to split the proceeds? If it was the latter, I’d suggest that that says all you need to know about the broker and its agent.

  4. D

    Those last few $1.4M sales on Hearthstone – are they spec or owner? Either way, they gotta be shaking in their boots watching this sale. This will be a direct comp on a better street – so there’ll be at a discount. Looks like this will set new construction at $500-550/sf? That’ll be tough when you spend $1.4 + demo costs for your dirt, right?

  5. AndyD

    Yup, same $3.395m price on the postcard.

    Thanks for the info Chris.

  6. Anonymous

    for over 3 million, why can’t one have WATERFRONT property ?

    I mean , really. if not in OG/Riverside.

    why not cos cob, darien, rowayton, westport, fairfield et al.

    I bet for around 2 million, one could have a pretty sweet home in madison CT.