Zillow reports that the spec house at 12 Byfield Lane, asking $9,999,999, is once again embroiled in a foreclosure action. I once met the builder of this house and he was quite angry with my previous comments about his project. I believe all I’d said was that it seemed unlikely that Byfield Lane would support its then-asking price of $12 million, but who wants to hear bad news?
The builder survived a previous attempt at foreclosure by prevailing on a counter-claim against his lender, so there’s no doubt there’s been a lot of angst here (increased by the loss via foreclosure of another project at 8 Alpine Road). But the fact remains, $10 million or $12, price tags in this range aren’t moving. Especially on Byfield Lane.