Fresh from foreclosure and now owned by its lender, 39 Doubling Road has been placed back on the market at $3.725 million. I’ve always liked this 1930s Spanish Revival house, and urged it on a number of clients when, with foreclosure looming, they could have snapped it up for $2.5. Too bad.
Ogilvy & Associates listed it and sold it to one of its own clients for $6.250 back in 2007 after it had been on the market just 18 days, and that may have been unfortunate, because more time exposed to third-party buyers and their agents would probably have reached a different valuation. Whatever the proper price was then, it will probably take around $2 million to properly restore and reconfigure this house (a garage would be nice but fortunately, two unnecessary bedrooms in the front could easily be put to this use with no loss of function). It sits on great land, right next to Greenwich Country Club and is as close to town as you’d want to be, to my taste.
$3.725 is a decent deal, but I’m still sorry I couldn’t get my own clients to grab it at what would have been less than land value.