Sale on Binney Lane

 

16 Binney Lane

16 Binney Lane

16 Binney Lane, Old Greenwich, sold for $3.450 million. This was pretty much a brand new house created from a 1961, out of the flood zone (of course down there, you might want to keep a dingy available should you desire to leave your house during floods) and all in all, decent living. And Binney’s a great street.

The builders/sellers paid $2.250 million in 2012 and as noted, rebuilt and expanded it. I don’t see the huge profit here (they had to reduce it from $3.750, so perhaps that’s why) but I suppose it’s like food stores: high volume lets you accept low margins.

2 Comments

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2 responses to “Sale on Binney Lane

  1. Cos Cobber

    Pretty nice layout overall with this one.

  2. OG Brit

    I looked at this, beautifully finished. IMHO, the buyers got themselves a bargain in no small part thanks to the fear of another Sandy – even though as you point out, this isn’t in the flood zone, and if they need a dinghy, then all of OG on Shore Road does.