Perhaps I’m missing something

Landscaping by Goat

Landscaping by Goat

718 North Street, a charming, dated, 1932 pile near but not on the reservoir, is new to the market today and asking $4.8 million. That seems like a lot for this house: it sold for $3.2 million in 2010 and looking at the pictures from the older listing and today’s, I can’t discern $1.6 million in improvements. Those mentioned: new gutters, roof, furnace, etc., fall more into the category of maintenance, rather than new features that will excite a buyer and make her dig deep in her purse.

Gold now buried in the basement?

17 Comments

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17 responses to “Perhaps I’m missing something

  1. Cos Cobber

    Well, it makes the 49 Doubling Road house look like a tremendous value.

  2. anon

    That’s former First Selectman, and beer heir, Ruppert Vernon’s old house.

  3. Midcountry

    Don’t know about the price, but the house surely does not look dated in the pictures. Looks beautiful.

  4. Midcountry

    Problem here is that not everyone is in love with new construction. There are different architectural styles and building periods that different people appreciate. I would never take down a house like this one. You cannot duplicate prewar construction. Even 50s construction can be very nice, especially if it is brought up to date with some renovations. It is understandable that people want to build their own and take down houses. Honestly, many beautiful houses have been taken down in Greenwich to make room for the buyer’s vision.

  5. Fluid Grid

    They’ll be lucky to break even at best.

  6. LMNOP

    Gray can be a beautiful exterior color on a vintage home but this exterior is a cold gray. The home would benefit from a new paint job, Classic white or even yellow would give it an instant face lift. Agree with midcountry that this house has a lot of character. I know this house and the issue that would stop me from buying it is the house behind it, on the reservoir. It would be nice if 719 could parlay a deal to buy that land and tear down the house in the back. Then 719 would be far more private and maybe worth more. Still no way at $4.8.

  7. Fluid Grid

    Isn’t this right next to the ceci bros headquarters.
    Trucks using engine breaks 40x / day
    Stump grinders, wood chippers and exit-9 underpassers’

    Pass.

  8. Anonymous

    Them Cici guys are EVERYWHERE.

    Biz must be good. Nice owners.

    Can’t imagine what a headache it is taking care of big estates.

  9. Happiness

    I look at your blog every single day, sometimes two or three times. On more than one occasion you have said that you do not comment on houses that come to the market in the first week. Regardless of the fact that you may be right about this house, I am disappointed that you have done so today. It is the first day.
    Fair play and all that.

    • True enough,but the startling price difference between what was just paid and what it’s asking now (almost) justifies the attention.
      Besides, it’s been a slow week for real estate news, and we have to grab what we can get.

  10. Midcountry

    The kitchen looks high end and relatively new, if not really new. The work on the windows in the back is also relatively new and very high end. No idea what the bathrooms look like – maybe they need work – but a lot of very successful work was done here.
    In terms of new, some of the work done since the 1960s is current style. Even 20 years ago, new homes looked much like they look today. The work done from those eras stays if it is in good shape. No need to take it out or redo it, unless the buyer wants their own design.
    The school of redoing things unnecessarily in a house- you are going to lose money.

    • The kitchen was already done by 2010, when they paid $3.2 million for the place, so we have to look elsewhere for justification for the $1.6 increase. Which is why I suggested the possibility of gold bullion in the cellar.

  11. 1665

    If they’ve really got the trees rigged so they’re always “gently swaying” thats got to be worth a serious premium