Lockwood Rd, Riverside, gone in 14 days

152 Lockwood152 Lockwood, asking $1.995 million. For those readers who subscribe to the Freakanomic’s conspiracy theory which postulates that real estate agents set the price for their own home higher than that of their client’s, hold out longer and get a higher price, this house is owned by a realtor.

25 Comments

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25 responses to “Lockwood Rd, Riverside, gone in 14 days

  1. pulled up in OG

    Next to that $4.1 elephant. No bidding war?

  2. Riverside Chick

    Wow is all I can say…..and not in the greatest location in Rivsd.

    • Rivman

      The road can be busy but you can walk to the: OG train, Binney Park, Perot Library, OG center, bike to the beach and high enough above the recent flooding issues in town.

  3. Anonymous

    Yep
    Very smart asking price
    Probably got multiple offers and took the prettiest one
    Deal closed.

  4. D

    Not surprising. Excellant value.

  5. Mickster

    I’ve done this a few times in the past – look at the market, see pent-up buyer demand (and lack of supply) in a particular price range, have sophisticated sellers that trust you and bingo you list and sell within days….works every time…great job

  6. The Governor

    Just wait until the Riverside crash happens.
    New school districts coming our way and then sellers trying to unload non descript houses in non descript neighborhood. me thinks this part of town is doomed …foolhardy buyers are paying way out of wack. Tears are coming…

  7. New in Town

    So I have to ask – new school districts? What are you talking about? Are they also taking the train station away and proximity to the beach? I agree there is a big premium for OG and Riverside and your money goes a lot further in Mid Country and Back Country. But a lot of families like the proximity to schools and to the trains, especially young families who have just moved to Greenwich from NYC. Also, with more and more families in which both parents work, proximity to the train station is very important. I know several people who say they could never live anywhere that they can’t run to the train in less than 5 minutes. A lot of people appreciate and pay up for this. But I still want to hear about these new school districts…

  8. Anonymous

    Gov…you are on drugs…Riverside remains the best value in Gwich real estate…awesome people, schools, water, government,venues etc….we keep enhancing our value prop while you toke…peace out.

  9. Anonymous

    Gov,
    Other than outright busing to the western part of town I don’t see the school changing. There are no condos and frankly little affordable housing in Riverside, so the floor for entry is about $1m. This generally means – although not guaranteed- a highly educated population with a focus on the quality of education of their children and with the means to ensure this happens. How else do you explain that riverside has exceptional scores relative to other schools in town with similar facilities, same curriculum, shared teachers,etc.

    Secondly, the housing stock has shifted to large (4,000 sf) well built homes. These houses have a floor simply based on replacement cost. Other than a major economic collapse I don’t see Riverside dropping. I do agree with you that the primary reason for the ridiculous prices in Riverside is the school. Until the schools in the other parts of town match Riverside’s performance there will always be a large price discrepancy

    • InfoDiva

      Things will get interesting in Riverside when the Board of Ed’s back is up against the wall and must present a plan to desegregate the schools or have it done for them by the Feds.

      I’ve been in town for a long time, and I remember what crawled out from under the rocks when some folks asked that a cross be removed from the Cos Cob firehouse. Look for real fireworks this time, and lots of ugliness.
      It’s more than obvious that people don’t move to Riverside so that their kids can meet children of color, but that introduction is just around the corner.

      • Riverside Chick

        I picked my friends 1st grader up at Rvsde school the other day at an afters program – half the moms picking up are Spanish speaking, I guess from Argentina etc. There is a big influx from South America and they like to live in neighborhoods with other South Americans. THEY like Riverside school, their kids get ESL (private tutors for free to teach the kids English) . They have cash to buy houses close to the schools and like the walking distance. They also have 4-5 kids. It’s great to have the mix at schools, if you don’t like it live in Darien.

        • Cos Cobber

          There are several Argentinian families in Cos Cob as well and a few Swedes too. There are also some Japanese and some Chinese as well. Oh, and there are some eastern european families too, not sure which countries though. And frankly the list goes on and on, such as it does in much of America.

          • Greenwich is so interesting at least in part because of the huge range of countries our residents come from. Having lived in Maine, where 99% of the people had never left the confines of their state and anyone who dared to join them in their wasteland was labelled a “flat lander” and viewed with suspicion and hostility, I’ll take cosmopolitan, any time. I miss the open space of Maine but not (many of) its people.

  10. RaisedinRiverside

    That area where Lockwood meets Sound Beach is very close to the line for the Dundee school district, not Riverside… unless Lockwood is the cutoff line itself? Or maybe it’s streets on the Lockwood side of Sound Beach go to Riverside and the streets like Center, Manor etc go to Dundee? Not sure.

  11. Spencercat

    @ Anon at 7:32 am: Wait, what? Rvsd School is the reason? Having seen Rvsd and N. Mianus’ performance up close, I think I’d take NMS over RS all things considered. They are both rated equally, so performance is actually no different. By your measure houses in NoPo should cost 25% more than they do.

    Proximity to trains plus “snob” appeal are the additional factors that add $$value to Rvsd houses, IMO.

    Oh, and a decent price for that house, but that is a very busy corner. Prime candidate for a stop light once there’s a bad accident there. Luckily it’s high on the hill so not much visual noise for the occupants. Land price plus $500k for the property I figure.

  12. Riverside Chick

    Any interesting open houses today?

    • No – Wednesday’s the day for staying in and writing snarky comments about houses that have already been seen. Tuesdays and Thursdays are open house days and I only saw one house of interest yesterday, up in Conyers Farm. Since it was tasteful and understated it will surely be torn down, so so far, I haven’t bothered to write it up.

  13. Anonymous

    Spencecat,
    I believe your comments were directed at me. I agree with you. NOPO is better value. There should be a premium for closer to train, beach, town, etc. but it probably shouldn’t command a 25% premium.

    People will figure this out and whilst NOPO will always trade at a discount the gap should get smaller. There have been some recent new builds in NOPO which have done well for this reason.

  14. Anonymous

    Infodiva,

    I think you need to check your facts. A quick read on Wikipedia might help:

    http://en.m.wikipedia.org/wiki/Desegregation_busing

    Bottom line is federal busing has not been implemented since the early 80’s and I’m not sure why they would suddenly pick on Greenwich.

    The state has the right to request a plan, but cannot mandate that certain action be taken. We can continue to try to balance through magnets and other programs but until either the law changes or the people of Greenwich decide that we must bus…there is unlikely to be major changes to the eastern part of town in the near term. Sorry, but I think it’s naive to think that anything significant will happen to these schools in the near term.

    • InfoDiva

      Sure, and Tod’s Point was safe from outsiders until some young lawyer made a name for himself and changed things. It only takes one guy to shake things up.