2 Horseshoe Road, Cos Cob, asking $1.385 million, has a buyer. I liked this house and thought it was a good value. Two different sets of clients looked at it, saw its value but declined to bid, but that was because its site didn’t serve their requirements. It sits up high on rocks and overlooks ponds on two sides. Parents with young children get nervous about rock “cliffs” these days; in my time, we’d see them as a great opportunity for climbing but never mind – times change. The house itself was gutted down to the studs not long ago and pretty much completely rebuilt. Here’s a case where price really wasn’t as relevant as waiting for the right buyer. Listing agent Tom Broadhurst did a good job pricing it to begin with (that just means I agreed with him, but heck …).
7 Loughlin Avenue, also in Cos Cob, is back after reporting an accepted offer a few weeks ago. The sellers made two mistakes, I think, when first listing it in January; one was pricing it at $1.750 million, the other was demanding that a pre-qualification letter from an approved lender be presented before the potential buyer could even enter to look at it. I don’t know whether they corrected that second error; I wouldn’t go near it, but I give them credit for recognizing that their price was too high and rapidly correcting it, taking large price cuts repeatedly until they hit $1.195 and finding, or so it seemed, a buyer.
I don’t know what went wrong here, and there are so many reasons a deal can fall through that it’s unfair to speculate, but the house is right on Loughlin Park and an easy walk to the train or what passes for the Cos Cob shopping district – seems like a decent value, today.