Quick sale

9 Roberta Lane9 Roberta Lane, $3.1 million, already has an executed contract after just 18 days. I always thought that the chief virtue of Roberta Lane was its Ez-On, Ez-Off access to the graveyard behind St. Michael, but young families live there too, apparently.

363 North StreetAnd 363 North Street is back again, with an impressive new price tag of $5.295 million. The owners tried and failed to sell this from 2008 -2012, starting at $4.350 and dropping all the way down to $3.495, which still proved to be too much. This is a great old 1930s house but it was quite a prospect to bring it up to date and no buyer was willing to step up and take on that job. So the owners have done it themselves, according to the listing, and performed a total renovation.

I’m curious to see how this works out, but it could come out well for the owners. Project houses are not popular these days, so a gracious older house, ready-to-go, might find buyers that it’s older version could not. I’m thinking of 49 39 Doubling Road, same era, which is either at the foreclosure knackers or soon to be there. It once sold, foolishly, for $6.250 back in 2007 and $2.5ish would have taken it last month. Sooner or later, someone’s going to restore it and return it to the market, I hope, and maybe a success here at 363 North will inspire that effort.

22 Comments

Filed under Buying/Selling Greenwich Real Estate, Mid Country

22 responses to “Quick sale

  1. Anonymous

    I think you are referring to 39 Doubling? is there a link to these properties? Thanks!

  2. Midcountry

    Roberta Lane is really nice notwithstanding the proximity to the cemetery. No cars, safe for kids and bikes, quiet, and clean but newish traditional style homes, most of which are pretty large. It does not suffer from the 1950s building styles that the neighboring streets still have as teardowns.

    • It is a nice street and your points are all spot-on. I do wish builders would resist the impulse to name their developments’ streets after their children, though (no worse than Ivanhoe, across the street, of course).

  3. Riverside

    Did you notice that 160 John Street will be auctioned by bank in October?

  4. Cos Cobber

    And in 06807, Cos Cobbers pine for bumpy ‘historic’ roads with shabby concrete from the 1950s.

    I thought the old concrete had a certain charm, but was far short from anything ‘historic.’ The new pavement should remain.

    http://www.greenwichtime.com/local/article/Historic-area-road-paving-raises-concern-4817198.php

  5. CEA

    Isn’t 363 North Street really close to North St school? I’m not sure a $5 mil house on a busy street, on top of an elementary school, was where I’d sink a spare million.

    Also curious as to how long these projects take. If someone were to take on Doubling, it would have to be someone not urgently in need of a home. I’d bet it’s a year, if not more, to update a house.

    • #63 is set way off North Street – I didn’t find it objectionably noisy when I saw it back in 2008, 2009 but I suppose exiting its driveway during morning school drop off might give one pause.

      I’d guess at least a year, maybe two, to redo 39 Doubling, so yes, alternative lodging would be nice. But that’s what makes re-dos so hard to sell and finished projects more attractive. If you’ll forgive the approximate numbers I’ll tell you about Stillman Rockefeller’s grand old house that tried getting $21 million or so (stupid), and finally sold for around $10. The buyer completely renovated it over a peril of 18 months or so and then returned it to the market at $21 million and sold it within a week to someone who had seen it in its original condition and turned it down as too daunting a project. His agent called him up when it was done and he bought it immediately. In Greenwich, many people have more money than time, or patience.

      • CEA

        OK, then second curious question: how many of your clients are looking to move, like, NOW versus “OK, we can wait for a year or two”? I bet whatever % can wait is the same % that would take on a re-do.

        • Most need a place now, CEA, but some have been renting, and have the option of extending, others are willing to rent another place while doing the work. And while 39 Doubling will take a a really long time to rebuild, 9 months -a school year- is probably more typical. For the right house, that can be acceptable.
          But again, most families don’t want to do that, so the closer a house is to move-in condition, the more likely it is to sell quickly and for a better price, even if the improvements aren’t quite what the buyers would have chosen for themselves.

  6. Anonymous

    Completely random but does anyone know why the section of rt. 1 across from Pizza post is mowed maybe 2x a summer? It’s such an eyesore and even mowing that once every couple of weeks would help.

    • I’d guess it’s because the state, not the town, has jurisdiction over Rt. One. Which is why, when all local roads are kept plowed during snowstorms, the Post Road itself is usually a mess. Yes, Hartford just loves us for our money.

      • Anonymous

        Ah, thank you – that makes sense now. Too bad, that could be landscaped / maintained for a relatively small amount of money. Oh well.

        • Cos Cobber

          Oh well? More like, why do we except this?

          The town maintains a zillion acres and this little patch should be added to the list. And if the town doesnt want to mow it, then it should be landscaped in a way to let it grow rather than letting the state maintain a weed farm.

        • CEA

          I bet if you took up a collection and put up a sign, a la I-95 “This portion of highway maintained by….” to honor the business paying for the upkeep, would work. Give Greenwich Green & Clean a call.

      • Anonymous

        Cos Cobber – You’re right on the “oh well” it shouldn’t be accepted but not knowing the state / town politics I just figured that was a lost cause but stand corrected. It would be nice to get that looking better, I can’t stand looking at it the way it is.

        • I know that a couple of civic groups maintain the Exit 5 junction and the Sound Beach /RtOne corner, so in theory it could be done here too. Just speculating, but I wonder whether there are legal and or liability issues if town workers maintain state land?

  7. Cos Cobber

    Calling all landscapers, there maybe an opportunity to exchange tidy maintenance of the Stanwich Road/US 1 green island in exchange for a modest sign. Its a deceptively large site, so if one could find a way to let it fill in with lower maintenance plant life and just trim the bus stop and the walkways, that would be terrific too.

  8. anon

    363 North Street was, literally, the sister house to what used to be 504 North Street, the pink “Bermuda” house, or Spanish Revival, which stood where the long vacant Wayne Manor house now looms. I believe the two houses were built for a pair of Mead sisters.