A buyer for everything, at some price

Two listings to illustrate that.

326 Cognewaugh

326 Cognewaugh

326 Cognewaugh Road, $1.275 million, reports an accepted offer. This is about as typical a 1993 builder house as you can find, and stuck in the middle of winding Cognewaugh Road, with no back yard to speak of and plain, plain plain. One of my clients asked about it and I told him, “it’s not for you, but at this price, someone will buy it”. Looks like they have.

18 Porchuck Rd

18 Porchuck Rd

18 Porchuck Road, on the other hand, is still trying to find the magic price. It was brought on the market by Ogilvy at $9.5 million back in June, 2012 and has suffered the indignity of a number of price cuts since, one of which was the subject of a certain amount of derision on these pages back in August.  Another cut came today, when $1.3 million was sliced off yesterday’s price and the house can now be yours for just $4.5 million. Will this do the trick? We’ll see.

12 Comments

Filed under Back Country, Buying/Selling Greenwich Real Estate, Mid Country, pricing

12 responses to “A buyer for everything, at some price

  1. AJ

    18 Porchuck Road is a lot for your money compared to $4.185 for West End Avenue, which, like Park Avenue South, has never been a very prestigious address.

    • West End Avenue doesn’t have the Merritt Parkway in its backyard and is brand new, open and airy. Different tastes for different buyers, but the market today: young families who care more about convenience than large lots of land, make me certain that West End will sell before Porchuck. Or at least, to two very different types of buyer.

      • EOSredux

        So give us the profile of the different kinds of buyers out there: I’ll start you off with what I guess is the biggest pool.
        1. Young, first house in country, kids

        Who is buying the big ticket items? 40-somethings hedge funders?

        • Yes, and, generally, they seem to want either to build new or a house that needs no work, and dark panelling, leaded windows and moss on the roof are turnoffs, not valued signs of old money- they have their own money, thank you very much and are proud to show it.
          That’s a gross generalization, but as a quick response being typed on an iPhone, it will have to do.

        • AJ

          Yeah, but I bet 18 Porchuck has secret passages and maybe even its own Canterville Ghost.

  2. Isn’t 326 Cognewaugh on the Stamford side?

    • No no, not at all. I’m not aware of any portion of Cognewaugh that extends into Stamford but regardless, this house is fully in Greenwich. It is not a bad house at all, for this price. For my clients, I thought it would require more $ to bring up to date than their budget would allow. Of course in Greenwich, that’s probably true of almost every house, but that’s what house hunting’s about.

    • Libertarian Advocate

      Something wrong with Waziristan George?

  3. Anonymous

    Guinea crosses into Stamford border, yes. Some really great houses on that street the past couple/few years. Almost came close to buying one of ’em, but alas, it didn’t work out.

  4. Stanwich

    I remember when the Cognewaugh house went up. It took the place of a three room shack with no indoor plumbing. This “new” house that took its place was a bit of a scandal because it is, ahem, a pre-fab. Sssshhhhhh, don’t tell the neighbors.

    • I noticed that but didn’t mention it because of the stigma you mention- I don’t share that prejudice- nothing wrong with modular, but at their cheapest the trim level, as here, is spartan. That’s just cosmetic, however, and easily remedied and not at huge cost.