5 Old Mill Lane, 14,000 sq.ft of questionable taste on 2 acres, sold for $10.375 million. That’s lot of money, for some of you, but the sellers paid $11.2 million for it in 2007. They originally priced it at $12.750 this past winter, but that proved overly optimistic.
5 Irvine Road, Old Greenwich’s price trajectory also illustrates, maybe, that there’s a ceiling after all. It’s marked down today (pictures will be posted soon, I assume), for $2.835 million. That’s a lot for a house with a FARport instead of a garage to keep Stamford bicycle thieves at bay, but it sold for $2.750 in 2004, $2.875 in 2005, and $3.225 in 2007. This time around, in 2012, it started at $3.350 million before falling back to earth. Welcome back to 2004, if someone’s lucky.
31 Vista is not a new listing, but its agent switched brokers and took this property with her. Given its history, her old broker was probably glad to see it go. It’s been for sale since early 2010, when it wanted $16.750 million, and has been at its current price, $8.995, for more than a year. Not happening. I’m not sure what a waterfront building lot’s worth over here: I’d guess around $5 million, but whatever that price is, that’s what this place is worth.
And here’s a surprise: 6 Meadowcroft, which started at $17.4 million in 2011 and finally reported a contract on its last price of $13.750 million a few months ago is back on the market, still at that $13.750 price. The contract was reported as fully executed, no contingencies, so I wonder whether the defaulting buyer walked from his 10% deposit? That would hurt.