Open House Report

Well not too much to report because I stayed mostly in the back country today, just to keep an eye on what’s going on up in nosebleed territory.

Two Houses:

280 Den Rd

280 Den Rd

280 Den Road in Stamford offered a pretty good sample of what’s available for so much less so close to Greenwich. It’s asking $819,000 for a 1869 house with a 2006 addition on an acre – plus. I really liked it, although it’s a bit quirky for the the traditional family of four, but for the right buyer, this is a very nice. You could live in a teardown in Havemeyer for the same price and if you have small kids to put through school you might prefer that, but this offers a very decent alternative for those not so burdened.

40 Aiken Rd

40 Aiken Rd

I’ll confess that I don’t get 40 Aiken Road, way up off Round Hill – not at its price of $15.725 million, at any rate. Seventeen acres, which is good, but they would yield three building lots at most, so tops is what, $9 million? The house itself is described as a Georgian design but to me it most resembles that brick telephone switching structure in downtown Old Greenwich built in the 60’s, not a period known for its great industrial architecture. Three bedrooms (four, if you want to give up the separate “billiards room” and a decorating scheme that probably cost over $1 million – that’s gonna hurt when the next owner rips it out but really, the style is so specific to one person’s taste that I think it’s unlikely to appeal to many buyers, who have their own taste and their own money to satisfy it.

All this is just one philistine’s opinion, and if you have $16 million in your housing budget, by all means go up there and decide for yourself. For me, the highest and best use here is as a building lot, or two; so $7-$9 million. Check back in a year or so and we’ll see how this prediction worked out.

70 Lower Cross

70 Lower Cross

I really liked the ten acres at 70 Lower Cross Road belonging to the estate of Din Gospodinoff, whose family nursery is, I believe, still flourishing up on North Street. They’re asking $3.8 million, which is probably steep (unless you subdivided, which I suppose you could), but what a little mini-estate you could have here. It backs up to the Babcock Property park and Land Trust acreage so you’ve got a lot of guaranteed privacy and, I think, access to what’s left of the riding trail system (not positive – check with the horse set). The land will legally accommodate a 27,000 sq. ft. house but that would be nuts. A seven thousand sq.ft. home, on the other hand, would fit nicely, and with some negotiating on that land price, you could probably be all in here at around $6 million, which I’d think the back country would still support.

North Greenwich Hunt Club

North Greenwich Hunt Club

Active deer trails and turkey sign (look for 2′ circles where they’ve scraped away the leaf cover, looking for food), so you could just buy the place, stay in the existing house or build a small lodge in the back and have your own hunting lodge in Greenwich, which would be pretty cool, and a heck of a way to impress your effete city friends next time you drop into the Yale Club.

Wear hunting britches.

6 Comments

Filed under Uncategorized

6 responses to “Open House Report

  1. 40 Aiken, please see $190 million listing by waterfront with a recent $50 million price cut.

    This broker/owner really mispriced this one. I predict it will end up like that Jonah Hill movie bomb,”The Sitter”

  2. Anonymous

    Land on Lower Cross looks gorgeous. Love the turtle pic!

  3. Anonymous

    Chris,

    Agree with all your points on Lower Cross.

    Land is priced a bit steep and probably more around $2.5-$2.75. If you can get less than that let me know.

    Beautiful indeed and full of potential.

    20k+ house would be silly.

  4. Matt

    Such a shame to see all of these big beautiful parcels chopped up. Once their gone, their gone forever. Large open spaces are one of the attributes that makes Greenwich special. There is no economic incentive to keep them. Families cash out and then that’s it, off to a builder they go.

  5. Anonymous

    Den Rd. in Stamford–a great street. Lost a bid on a house there. Hop skip & jump across June Rd into wherever in Greenwich you need to go. Very easy drive into Old Greenwich.

  6. Anonymous

    Subdividing 70 lower cross would be challenging….would need to cross quite a bit of wetlands and will be expensive. to get approvals. Best as single lot for a buyer craving privacy. I think 2.5mil would be high…low 2s maybe.