The news never stops in the whacky world of Greenwich real estate

Two sales reported.

104 Old Stone Bridge

104 Old Stone Bridge

104 Old Stone Bridge sold for $1.750 million. This sale should come as a relief to its neighbors in this development, because two recent distress sales – estate in one, bank trouble in the other, had been in something like the $1.4 range. $1.750 isn’t as high as the low-$2 sales we saw at the peak, but it does mark a bit of firming in this area. A good house, in excellent condition but for all that, not so different from its peers that you couldn’t use it as a comparable.

4 Cedar Hill

4 Cedar Hill

4 Cedar Hill, that little spur off North Maple, sold for $2.390. That’s pretty good for a dated house. It sold for $1.845 million in 1999, so appreciation over 14 years hasn’t been great, but any gain’s better than a sharp stick in the eye.

Representative only: coal slag not included

Representative only: coal slag not included

We also have 313 Stanwich Road, lot “5”, back for another try, still priced at $1.695 million. That’s a more attractive price than the $3.6 asked in 2008 and most of the prices attempted in the succeeding years, but this 4-acre lot is: (a) behind the main house it was stripped from; (b) on a driveway shared by two other homes; and (c) not much of a lot to begin with. Four acres, yes, but much of that is swampland downhill from the building envelope, and not particularly attractive to anyone but mating tree frogs.

The seller paid $3.250 in 2007 for this lot and the 2.8 acres next door. The smaller lot is under contract, last asking price of $1.350. If you discount the value of an extra acre of wet muck, I’d think that sister’s price would be a fair starting point for this one.

313 Stanwich hasn’t had notable success in predicting prices, for some reason. The original house in front started at $6.495 in 2009 and finally sold just last month for $3.255.

21 Comments

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21 responses to “The news never stops in the whacky world of Greenwich real estate

  1. EOSredux

    What does it cost to go through the process of subdividing land (as was done here, several lots off one former grand parcel)? $100k? $200k? There are surveyors, wetlands mapping, lawyers, etc.

    • Not too much for simply splitting up two lots of 4 and 2.8 acres in a 2-acre zone. The expenses do start, however, when the development starts. These guys had to scrape and pile up dirt, build huge retaining walls (15′ high? 20′? – tall) and get P&Z approval for building two houses, with septic and drainage designs, etc. No home run here, even if lightning strikes and the sell this for full asking price.

  2. Anonymous

    I really like the Old Stone Bridge development. 104 had been rented out for a while, correct? It seems like that one has been on and off the market for a long time in between renters.

  3. InfoDiva

    Thirty years ago, when we were a young family moving to town, I looked longingly at the houses in Old Stone Bridge because they just oozed “Connecticut” to this city girl. But even then I couldn’t get past their location, literally in the middle of nowhere and requiring a long, windy trek down Cat Rock or Cognewaugh–choose your poison.

    • Midcountry

      Old Stone Bridge had the dream houses of that generation, even if the location was a little inaccessible. Today people want Arizona – cut down all the trees on the lot and plant a few tiny ones – and BIG brand new houses that have their own stamp.

  4. Midcountry

    Likely 313 Stanwich is not divisible. Also you are on Stanwich, which could become much noisier if the Stanwich Road access to the Merritt opens.

    Noticed on Zillow a 1.66 acre lot right nearby for just over a million.

    • Anonymous

      Stanwich will have Merritt access?

      • Midcountry

        Given the danger of making a left turn on North Street and the highway traffic on North Street, it is only a matter of time.

        • InfoDiva

          It will never happen.

        • Midcountry

          Wait for the first big accident on North Street where someone is badly hurt or killed on account of the traffic and impossibility of making a left turn. Do you think there will be traffic lights or stop signs on North Street at every small street to deal with the traffic?

        • GPD Folk

          Info Diva is correct…..it will never happen…..nor will there be stop signs at every North St. intersection….but……North St. & Clapboard Ridge could be another matter.

      • Midcountry

        You will notice that the Merritt exits skip a number between North Street and Den Road. They left off that number just in case.

  5. Midcountry

    By the way, I noticed a house on Guineau Road for rent near 313 Stanwich. What a beautiful house!

    • Pete

      I think Old Stone was one of the first conservation developments. Developed by Barry Montgomery, is was RA-2 zoning developed as RA-C1 allowing one-acre lots with extensive conservation reservation, mostly wetlands.

      • That was what we called the Chimblo Property back in the early-to-mid-60s because, coincidentally or not, it was owned by the Chimblos. They let the Boy Scouts use it for campouts and use it we did. Troop II, then over one-hundred-strong, would march from St. Paul’s in Riverside all the way up there, with “Trapper Nelson” packs, a primitive backboard without a hip belt, so all the weight hung from the shoulders – nasty.

        But the place was great. By junior high, those of us had discovered girls (not me, I was still more interested in the outdoors) would sneak over to Mimosa Drive at night to hang out with their girlfriends from Eastern. What that had to do with wood lore I never learned, but I’m sure it was educational in some fashion.

        • Walt

          Dude –
          So if I interpret your post properly, what you are REALLY saying is, in no uncertain terms I might add, that the pre-pube little Dude went on sadomasochistic marches with a bevy of other BDSM little cherubs. To a place called Camp Bimbo. After the JOYFUL PAIN of the march, you all bonded by eating gobs of melted marshmallows OFF OF A STICK, singing songs around a fire, all dressed in cute little outfits with scarves, knives, ropes and tent pegs. Then all snuggling up next to each other for the night, under the watchful eye of ScoutMASTER BOUNDMAN!! Do I have that about right? I think I do! I just said it in plan American, and not uber polite WASP speak!

          Then. THEN!! While the rest of your heretofore homoerotic bald little love slaves sprouted some grass around the sprout, they discovered girls. Whereas you. WHEREAS YOU!!… opted to continue to trek the woods alone, wandering the forest in solitude.

          Passing on the hotties, and all the wonderment they held (and to which I so joyfully partook, BTW). TRAPPED inside your own warped little deviant mind. Stopping often to spank your trouser possum, and drop the occasional deuce.

          Is that about right or did I miss something? It does explain a lot!!

          Your Pal,
          Walt

          • Spot on. And we marched in shorts, knee socks and Smokey Bear hats; I tell you pal, the men in trench coats were lined a block deep the entire route.
            Then, when we reached camp, the fires lit, soft, slow music piped in to the speakers in the tree tops, the hot tubs filled and burbling ….

  6. Walt

    Dude –
    And here is an interesting read on cultists. It was written by some chick who spent many years as a Moonie, which I far as my research can tell, is not as bizarre as the cult Squeaky Tamm belonged to for most her adult life. This lady says cultists have many of the same personality disorders as the Boston Bombers and other slum lunatics.

    http://www.huffingtonpost.com/diane-benscoter/extremist-brain_b_3998314.html?utm_hp_ref=politics&ir=Politics

    Really what it all boils down to is a cultist is someone who can’t think for themselves or think critically, has a fanatical belief in a bizarre ideology, refuses to believe if fact, logic and common sense, and will stop at nothing and do hateful things to anyone who disagrees with their perverse outlook.

    LIBTARDS Dude!!
    Your Pal,
    Walt

    • RealTorme

      Wacky now has an H? Walt will know

    • Ancien Rosean

      Walt: They no longer call themselves “Liberals” having gone through a re-branding campaign much like ATLA (Association of Trial Lawers of America) which now calls itself AAJ (American Association for Justice). Still the same scumbags, just a different name.

      Anyway, Liberals now march under the “Progressive” banner.
      Some self identified Proggers: Andrew Cuomo, Barackoboob, Dan (“Don’t call me Dan”) Maolloy

  7. anon

    Walt should know 313 Stanwich pretty well. It’s the old McCloy place, and, as we all know, it’s the McCloy’s who launched the Noels into Greenwich, as so breathlessly recounted below in Vanity Fair:

    http://www.vanityfair.com/style/features/2002/10/noel200210

    To think you could own a piece of the reflected glamour…