Swamp Vue sells

49 Pecksland Rd

49 Pecksland Rd

49 Pecksland, $1,458,500. Owners paid $1.650 for it in ’04, put in well over a million dollars into renovations (mortgage debt looks like something around $2.775?) and clearly, didn’t get their money out. Moral of the story: don’t sink money into a 1955 home in a swamp. On the other hand, this is a very nice house, and the new buyer has done well.

20 Meadow Rd

20 Meadow Rd

20 Meadow Road, Riverside, reports an accepted offer after 90 days and one price cut, to $2.195 million.

9 Comments

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9 responses to “Swamp Vue sells

  1. Anonymous

    The ones who really made out were the buyers in 2003 that paid $1,370,000, did a little work, and sold for $1,650,000 the following year. These owners got screwed!! You are right the buyers this time around got a good deal! Especially if they don’t care about having a back yard!

  2. Anonymous

    And don’t care about ever building a new house. It’s not only mostly swamp but more importantly very FAR restricted. The lot shape so non conforming you’ll never be able to build a new house of appropriate size. Tough one.

    • I think you’re missing the point here. The house was completely rebuilt, offers a lot of great space and sold for about what an entry level home in Old Greenwich might go for. Some people – not you, of course – don’t have $3.5 million to spend on a house, so to find a good one for $1.5 works for them. As an aside, it’s an oversized lot in the 2-Acre zone so your FAR reference is irrelevant and wrong.

      • Anonymous

        It is clearly a great deal to get a renovated home in mid country for $1.5MM when the going rate for (better) raw land in the area is $1.8-2.2MM.

  3. Anonymous

    Look at the shape of the lot. The entire back half of the lot doesn’t conform to minimum width requirements and therefore will not add one sf to your FAR allowance (are you sure you are a realtor?). There is at most 1 acre that can be counted that is conforming area. What’s a 1 acre lot in a 2 acre zone off Pecksland with a renovated 50s colonial worth? I guess it’s 1.5mm. Smells fair, but not cheap.

  4. Riverside Dog Walker

    On to 20 Meadow Road. The interior sure looks nice, but I don’t get this price for a 1924 house.

    It sure would be nice to sell into this bull market, but it is too much trouble to trade down. I hope this party is still going on in 5-10 years.

  5. GreenITCH

    CF noticed some moving vans in front of one of the two Kali Nagy homes on Marks Rd . …. did one of them sell or is it being rented ?