Sale price, price reduction

58 Washington

58 Washington Avenue (that little street that runs from the Post Road south, between the YMCA and Whole Foods) has sold for $935,000. I’m a little surprised at this price because when I saw it, it was in pretty rough shape. The owners paid $1.0295 for it in 2007 (it last sold before that in 2003 for $735,000) after some renovations were claimed to have been made but whatever those improvements were, they’d faded by the time this came back on the market. A local bank – Patriot, of course – loaned $971,250 on the property to finance its purchase in 2007 so I suppose that explains the asking, if not the selling price.

6 Benjamin Street

In Old Greenwich, 6 Benjamin Street‘s price has been reduced (not “slashed”; “reduced”) to $2.050 million from $2.195. It too sold in 2007, for $2 million even. It’s a pleasant house, Benjamin’s not a bad street, but I don’t think we’re back to 2007 levels yet, even in Old Greenwich. This is just one listing down there that demonstrates that.


Filed under Uncategorized

9 responses to “Sale price, price reduction

  1. Anonymous

    58 Washington–935k, really? Wow.

    Well, it does come with a carport. For that you get full house upkeep, maintenance, headaches…

    I’ll take a nice condo, thanks.

  2. Guest

    58 Washington is a vice nice house, with new kitchen. Needs some work in the upstairs bathroom(s), as I do not think there is a shower, but the house is very pretty and spacious. Really has a beautiful prewar design inside. One thing though – no back yard. Does have a lovely front porch Also unknown- what the condo development next door will bring.

    Downtown Greenwich is very hot. Properties that are fairly priced go quickly. In the context of downtown Greenwich, one is not talking about perfection, but rather a home that an average person would be quite happy with. 58 Washington gets an A- on that count, not an A, mostly because of the back yard situation.

  3. Guest

    Do not understand the first comment above about a condo being better. This house has beautiful prewar elegance. Not sure if there is room for a 2 car garage, but likely not. There is ample parking.

    You are dowtown if that is where you want to be. This has a lot of space – large rooms for downtown, well laid out.

  4. Guest

    Not sure you have the price of the last sale correct. Blockshopper has it at $1,295,000.

  5. Anonymous

    backyard has zero room for a garage, let alone a reasonable turning radius for anything other than a mini cooper. don’t forget about the headaches of a shared, and tiny (narrow) driveway.

    yes, inside is lovely.

  6. Curious

    Why do you question every sale? This one sold for $1,295,000 in 2007 and just sold again for about 72% of that number, reflecting a 28% drop. Is this dissimilar from market averages for houses in this price range? I don’t think so.

    • If you’re a regular reader you’ll know I don’t question every sale-valleywood, just last week for example. Washington, as I said, had been allowed to deteriorate badly since I’d last seen it in 2007 and that’s what I commented on.

  7. Guest

    The thing is, on Washington Street, you are downtown, and for downtown, you are going to give up a few things on your list of hopes for a home, or else look for a long time and pay over $1 million. This house is in walking distance of everything if you like to walk. I passed it up because I wanted a backyard, and off street parking. I did not find both for under $1 million downtown when I looked within the last 60 days, and hence did not buy downtown.

  8. Guest

    By the way, I did not want a condo, only a house. Brokers told me the condo market is more discounted than the house market, even downtown.