Two Merritt Parkway homes go begging

A couple of houses on the broker open house today that merit discussion, if not an actual visit, because neither is selling and both are right on the Merritt Parkway. Coincidence? I think not.

329 Riversville: lights on, no one home

329 Riversville: lights on, no one home

329 Riversville Road is literally in the shadow of the parkway, and long ago brought down its builder, who lost it to foreclosure in, I think, 2010. It sat empty for years before the lender sold it off (at a great discount, I hope) to a third party. It’s been unsuccessfully auctioned (no takers), priced at $2.799 million (expired unsold) and now it’s back for a third attempt, at $2.695. Someone’s bound to want this at some price, but between the issue of sitting vacant and unfinished for so long and the looming presence of the Merritt overhead, I don’t know what that price will be.

PorchuckA bit further east, there’s a house on Porchuck that’s been reduced, again, to $5.8 million. It started at $9.5 million in 2012, and I’m sure its listing broker could have profitably read this weekend’s profile of David Ogilvy on the proper selling of a high-end home. He obviously didn’t, so it sits.

UPDATE: checked the tax card for the history of 329 Riversville, and here are some more details: IndyMac bank loaned $2.6 million for it in 2007, foreclosed on it and the successor to the failed IndyMac sold it off to the present owners for $1,489,952 in February, 2012. It’s the current owners who finished it, so it’s been empty for five years now (notwithstanding the listing’s claimed construction date of 2010, it was in fact built in 2008).

11 Comments

Filed under Back Country, Buying/Selling Greenwich Real Estate, Foreclosure, Neighborhoods, pricing, Real estate agents, spec houses

11 responses to “Two Merritt Parkway homes go begging

  1. Anonymous

    that 2nd story window could get popped by a well-timed toss of a bottle of bud light from the merritt.

    might want to tell the owners to upgrade to shatterproof or unbreakable lexan.

  2. Steve

    Even better, it’s now across the street from a construction site – anyone know what they’re doing there?

  3. FF

    I went through that house in great detail a couple of years ago, when the bank had just repossessed. It was the classic situation, where you could see the later work appearing to have been done by unqualified day labor, but the “bones” of the place (i.e., the stuff done when the developer had money) was pretty good. So the new guy had high hopes, but at $2.1/2.2 he probably escapes with his life. Now 21 Brynwood, on the other hand, is a pile of rotted timbers, and I will be surprised if it closes for real

  4. anon

    Whoa the interior of Porchuck is as loud as the parkway. Phew. Pepsi colors for the Don Kendall, former head of Pepsico, I guess. How could they sleep at night?

  5. Anonymous

    For 18 Porchuck the taxes will make you poor Chuck indeed! Yikes. Also, while the house is fantastic, it was built for an era where a staff of a dozen wasn’t uncommon. This is a house that would be an unbelievable financial black hole, and I suspect that those who could afford the operating costs of the home don’t want to be astride the Parkway. It’s very sad, as there are few houses of this caliber in Greenwich.

    • Indeed. Picture it with 100 acres, no Merritt, low taxes and cheap help and it’s easy to appreciate its former grandeur; take all that away, you’re left with a four-acre building lot on the highway.

  6. Anonymous

    So not so good then for 16 next door also for sale. Neighbor on corner with rhr bought a couple of yrs ago in the high teens