33 Meadowcroft sells, again

 

33 Meadowcroft Rd

33 Meadowcroft Rd

Never listed. 2 acre building lot, $4.350 million. That’s pricey, but seems to be the going price for this particular lot, because it sold for $4.040 million in September, 2011. It wasn’t listed then, either, although just as this sale, agents managed to get their commissions. Bless their hearts.

Interesting phenomenon here, by the way, and one I see increasingly: intra-office sales, one agent to another, without ever exposing a property to the competition of the MLS. This one hasn’t left Sotheby’s in the past two transactions, even though four different agents were involved. That’s a great deal for the agents involved because they don’t run the risk of another agent and her client horning in and, to be honest, this sale, at least, seems to have traded about where it should have, so no harm to the seller. My guess is that as the two or three huge firms in town swallow their smaller competitors they’ll have sufficient agents to create their own in-house market, and we’ll see a lot more of this. Eventually, that will hurt homeowners, because a transparent, open marketplace is the only thing that keeps agents honest.

167 Bedford Rd

167 Bedford Rd

On another note, 167 Bedford Road, reported as having an accepted offer just last week, has been returned to the market. Don’t know what went wrong. This property’s been kicking around a long time, having started at $5 million and now asking $3.695. Looks like it will be around a while longer.

18 Comments

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18 responses to “33 Meadowcroft sells, again

  1. Anonymous

    Why does Meadowcroft trade like the trees are made of diamond? Looks like any other mid-country street to me.

    • Before Mark Mariani despoiled it, it was one of the prettiest streets in Greenwich – close to town, beautiful old homes on sweeping lawns, nice place. Now, not so much.

  2. ML

    Some sellers prefer to do an off market deal. They don’t want the gossip surrounding the sale I their house. I have seen this a lot in Florida.

  3. Manhattan has never had an MLS, so most transactions there are in house. It’s crazy. Arrangements like that only hasten disintermediation.

  4. Anonymous

    If I had a target price for my house and I could reach it with a pocket sale and minimal showings and hassle I would do it in a heartbeat, even if it meant forgoing the chance of a bidding war and a sale above the listing price.

    • Agreed. In this case, though, it appears that it’s a land sale, so intrusion would have been minimal. But I’m just commenting on the general trend, not a specific sale and I find it disquieting to see the major brokerages retreat from the openness forced on them by the MLS and back to the days of in-house listings. No one likes competing against others, so it’s not surprising that brokerage firms would welcome its elimination but, long term, I don’t believe home sellers will be well served by this reversion to the way things were.

  5. Publius

    CF,

    Educate me; I guess I am geographically challenged. The Bedford Rd listing is North of Merritt but in the propaganda section on the listing there is a comment about a deep water dock on LI Sound. The pictures show a pond and a dock. Is this just sales “puffery” or is there something I am missing?

    • I’ve always interpreted that as meaning that the owner has bought a dock slip “condominium” on the Sound – perhaps at Palmer’s, in Cos Cob – they’re available. It makes sense that if he’s moving (or would like to move) from the area, he’ll no longer need a boat slip and is tossing it in with the house.

  6. Jane

    Will the seller and buyer of the Meadowcroft property show up in the paper?

    • The seller’s using his lawyer as “trustee” to keep his identity out of the papers. That’s usually pretty simple to move behind and get the real party, but unless you’re a creditor, not worth the effort.

  7. Anonymous

    Absolutely correct about Meadowcroft- was one of the nicest streets in Greenwich before Mariani destroyed it with his big, ugly, tacky, houses. He needs to go back from which he came!!

  8. Barbara Stepens

    My listing at 167 Bedford Road does include a boat slip at Palmer’s Point to accommodate a 40′ yacht. The pond, although very pretty, that is next to the backcountry house is not quite large enough to do so.