Something in the fall air is making sellers aggressive

Three new listings whose prices seem generous, at first blush, but perhaps buyers will disagree.

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18 Shoal Point, Riverside, is now available, for $5.195 million. I’m all for getting every penny possible on Shoal because such a sale can only help the Fountain family unload its own swampland one street over, but this house sold for $3.455 in 2005. I don’t know if Riverside – even Riverside, has gone up this much in that time. This house, by the way, is on the western side of “Shoal Point”, which will spare a buyer from staring at the Fountain hovel collection but still offers only a view of the houses on Marks Road, 100 yards away. Not quite sweeping views down the Sound to the NYC skyline, but what do you expect for just $5.2 million?

oldhomeFurther north, the owner of 5 Conyers Farm has placed his own home up for sale for $12 million, a substantial hike from the $6.9 million he paid in 2010. $5 million in renovations? He may have overpaid.

218 Clapboard Ridge

218 Clapboard Ridge

And we also have 218 Clapboard Ridge available today, $25 million. A 1929 home on 5 acres, it says here it’s been  “completely renovated”. That may be so, but from its pictures, it appears to still retain its original architecture and sensibilities, which is a style not very popular these days. Unlike the arrivistes of yesteryear, the new crowd, having made their pile, seek to build new  piles of their own, rather than buy someone else’s grandfather’s place.

Besides, $25 million is a tough bracket, even in Greenwich.

10 Comments

Filed under Buying/Selling Greenwich Real Estate, pricing

10 responses to “Something in the fall air is making sellers aggressive

  1. Cos Cobber

    Thats all nice, but is there anything new for the little people who dwell in the sub $2MM houses?

  2. InfoDiva

    Decorating at 218 Clapboard Ridge is a bit fusty, but it’s the media room that’s the deal killer. One row?

  3. Anonymous

    Hi Chris, not that I can afford it anyway, but I am curious does 218 Clapboard have an entrance on Khakum Wood Drive, as well as Clapboard? The Khakum Wood Association seems to be one of the few places in town where the 1920s Great Gatsby style is still doing well.

  4. housecat

    What’s the rationale on the Shoal Pt price? Don’t people in the 5+ range usually expect a bit more than 9-year old construction (the horror!), 5 beds and 5k of square footage on half an acre – even with an inlet in the front/back yard? More Riverside madness?

  5. Yardbird

    How much debt on 218 CR?

  6. toast

    I know the house personally, I have worked in high end residential for going on 18 years, this house is some of the best quality construction in all of Greenwich.

    • I had meant to revise my own snarky comment to point out that some fabulous builders and craftsmen have been working in Greenwich for more than a century, including the 1980s, and feel bad that you had to come to the defense of this one

      The building boom of the 80s saw dozens of quick-buck contractors crawl out of the woodwork and put up houses that, 30 years later, still reflect their hurried, cheap construction and appear to be ready for the wrecker’s ball. In no way does that general observation include every house built during that unfortunate decade and I regret using an over broad brush to include the entire class.