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