Dennis Savageau’s vision for 530 Field Point Road
Greenwich Time has the story. 529, 530 Indian Field Road. Seven acres, two lots, one water, one interior. Bridgwater Associates money, it looks like.
529 seems to have traded hands privately in the past but 530, the 4-acre, waterfront portion, sold for $5.250 in January 2006 and again in December, 2007 for $7.1 million. Whatever was paid for #529, someone’s done very well here with this sale.
Good news for these sellers, but sad tidings for the creditors of the Greenway’s / Copper Beech estate next door. Back in July, when it was first listed at $190 million, I speculated that the direct waterfront lot might be worth $18 million, with the interior lots worth maybe $2-$3 million apiece. I seem to have been a bit conservative: $21 million vs. this sale of $25, but even with its record price cut of $50,000,000, Greenways is still a far distance from its hoped-for price.
Dennis Savageau’s vision for 521 Round Hill Road
Not around here; not much. Mike Finkbeiner recently was hired by NYC to compare the 1811 sea level to now. His conclusion? High tide then was 4′ over mean low, 4.73 feet higher now.
In 1811 the Commissioner’s of the City of New York laid out the street grid system, and established an extensive series of elevation monuments at corner intersections, based on high tide of the era at zero. EarthImage was asked to calibrate that system in relation to the modern determination of tidal level and land elevations. Our conclusion was that the City Elevation Zero of 1811, now known as Manhattan Borough Datum, is 4.03 ft over modern mean lower low tide (the average daily low from 1978 to 2001.) As the daily high today is 4.73 ft higher than that, one can speculate that tides have risen 0.70 feet (8.4 inches) since 1811.
What’s going on (I say, not Finkbeiner) is that the gummint is changing the methodology to achieve its political goals. Here in Greenwich, Diane Fox, Katie Blankley Deluca (whose father is now on our BET) and Denise Savageu, the triad responsible for forcing residents from their homes, are only too willing to go along with that process.
One executed contract, two accepted offers
218 Valley Road
218 Valley Road has a contract – asking $1.595 million. I’ve been observing this as it was being constructed and it looks very nice. Someone else obviously agreed. The original house, which has now been basically rebuilt and expanded, was originally listed in 2009 for $649,000. I don’t know whether this project was done by those owners or if they sold it privately, but it appears the builder will do well.
317 Stanwich Rd
317 Stanwich Road, a nifty cottage on some good land with more Land Trust acreage behind it, has an accepted offer. It started at $2.895 back in July, 2012, but eventually dropped to $2.495. Owners paid $2.025 in 2009 and did a great job renovating. Probably not a money maker for them, but the buyers are getting a great house.
18 Shoal point
And, news that will bring joy to the hearts of abutting creek owners, 18 Shoal Point Lane, Riverside, asking $5.195 million, has an accepted offer after just 71 days on the market. Hope they get every penny of that.
111 Dingletown Rd
Joe listed 111 Dingletown Road for $3.195 a month ago and I came, I saw, and I was not impressed. “$2.450, or some figure close to that,” was my guess, which I passed along to Joe for his guidance (that’s a joke). In any event, it reports an accepted offer today.
Owners paid $2.550 for it in 2003 and to my eye, it had not been improved since then. Joe, the owners and a buyer all disagreed.
FWIW’s official surveyor Mike Finkbeiner notes, in a comment here, that NOAA is about to change the “North American Vertical Datum”, from which FEMA and our own town derive their flood zone requirements, to something called “GRAV-D” which, in turn, will next year allow FEMA (and our town planner) to (falsely) claim that the sea level has risen a foot since 2013. More restrictions will then follow.
65 Conyers Farm
65 Conyers Farm, 15.63 acres, reduced to $4.6 million. The owners paid $5.125 for it in 2007, went ahead and designed a house, obtained all necessary approvals and then changed their mind and put it back up for sale in 2009 for $6.9 million. So far, no takers, and this latest cut is the result.
Looking at its history (a little difficult because the address changes), it appears that the same land sold for $3.275 in 2003, then asked $9.975 in 2005 before selling in 2007 as noted, for $5.125. $4.6 is of course closer to the 2007 price than 2003’s, but the trend is ominous for Conyers Farm homeowners, – how low can it go?
Venezuela government seizes consumer goods department stores, opens them to their fellow looters.
Ayn Rand predicted this in 1957, Fredreich Hayek in 1943 and countless others before and after; the pace is quickening.
National guardsmen, some of whom had assault rifles, were positioned around outlets of an electronics chain that [President Nicolás Maduro] has ordered to lower prices or face prosecution. Thousands of people lined up at the Daka stores hoping for a bargain after the government forced the companies to charge “fair” prices.
“I want a Sony plasma television for the house,” said Amanda Lisboa, 34, a business administrator who waited seven hours outside a Caracas Daka store, similar to Best Buy. “It’s going to be so cheap!”
Five managers of electronic retailers including Daka are being threatened with prosecution for unjustifiable price hikes, the Venezuela government said. More stores may be at risk, as well. Government inspectors were dispatched to check prices at an array of other businesses.
“This is for the good of the nation,” Maduro said, referring to the military’s occupation of Daka. “Leave nothing on the shelves, nothing in the warehouses … Let nothing remain in stock!”
And when nothing’s left?
(UPDATE: Sorry Richard, just caught up with some of the comments and see that you linked to this yesterday. Still new enough to be dispiriting news.)