How high will the Riverside hysteria reach?

19 Hidden Brook

19 Hidden Brook

It will have to be mighty high, if the owners of 19 Hidden Brook Road are to achieve their asking price of $7,500,000.  The house was built just last year by Doran Sabag, and no one admires Sabag’s craftsmanship more than I: I even, sort of, understand the premium people are willing to pay for his work, but $7.5 for a used, 5,000 sq. ft. (plus space underground) house on less than a half-acre and just a two-car garage seems …. ambitious.

On the other hand, never stand between a Wall Streeter and the house he wants during bonus pay-out time.

Grass between the flagstones?

Grass between the flagstones? Cos Cob east.

48 Comments

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48 responses to “How high will the Riverside hysteria reach?

  1. Riverside Chick

    A family moved in there right after it was completed a few months ago. Are they moving out already? Premium price is right!

  2. Toonces

    if you’re coming from NYC this looks like a bargain. Lots of space, great “free” schools and a pool.

  3. Anonymous

    If this looks like a bargain, you are an idiot

    • Toonces

      Compared to what you get in NYC for 7.5M, this is a bargain. So easy to be rude when you’re anonymous isn’t it? You’re a wimp.

      • Anonymous

        How is it a bargain if you can get other new homes in Riverside with OK public schools and a pool for $4mm.

        • Toonces

          I said it was a bargain COMPARED TO NYC. I did not say COMPARED TO THE REST OF RIVERSIDE. What new home is for sale in riverside with a pool for 4M?

          • I’d describe it as a lap pool but regardless, it’s awfully steep for non-waterfront. You’re quite right, though, that someone cashing out on a NYC apartment might find it a bargain.

          • Toonces

            Definitely a lap pool. I think you can get a pretty swanky place for that amount of money in NYC but you don’t get land, new, big, basement, lap pool and a great school too. I wonder what realtor took on this listing at this price?

          • Listing agent is Ann Simpson, who sells a lot of real estate in Riverside. In this case, I think she’s stretching.
            But Ann sells a lot more than I do, so she may have the last laugh.

          • Toonces

            oh, well, she’s awesome. Isn’t it true that the listing price is sometimes the choice of the seller, not their agent?

          • It is, but the choice to accept a listing at an unreasonable price is up to the agent. I won’t do it, many other agents will.

          • Toonces

            well, the listing certainly will not go unnoticed!

        • Riverside Dog Walker

          Corner lot, no privacy and way overpriced. If someone thinks this house a bargain and pulls the trigger for anything near this number, it is time to list my house.

      • Anonymous

        It can be relatively cheap. However a bargain is defined in more absolute terms, so it would have to be compared to other Riverside properties.

        a thing bought or offered for sale more cheaply than is usual or expected.
        “the secondhand table was a real bargain”
        synonyms: good buy, (good) value for the money, surprisingly cheap; More
        antonyms: rip-off

      • Anonymous

        Who drops 7.5mm on house in Greenwich and sends their kids to public school?

        • Toonces

          Someone who is a believer in public schools. Riverside elementary is outstanding. Also: maybe someone who isn’t able to get their kids into private school in late June, since applications for the coming school year were due last December.

        • Anonymous

          Someone with multiple kids. 3 kids, private tuition and donations at $50k each is $150k. The first $4mm of your mortgage is effectively interest free.

        • Anonymous

          You need a new accountant.

  4. Factcheck

    Is there anything justyfing the $2mn premium on what the current owner just paid less than 12mo ago?

    • Well I’m not aware that he did. He paid $1.8 for the land (in a bidding war-list was $1.495) and there’s a $4 million mortgage on the place. I have no idea how much of his own cash he added on his own, but it could have been huge. If, on the other hand, you’re right on the number then no, I can think of no reason that would justify such a premium.

  5. Anonymous

    They paid $5.5 on 9/12/13

  6. Anonymous

    They didn’t put the money into landscaping- pool completly exposed to street. And house right on top of neighbors. But I quibble- it is a beautiful house.

  7. Mickster

    Lets run the numbers:
    5200 over ground square feet @ $500 per (They do a quality build!)
    2000 square feet under ground @ $200 per
    5200 @ $500 = 2,600.000
    2000 @ $200 = 400,000
    Lot Cost = 1,800,000
    Sales Value = 4,800,000
    Buyer (fund of funds Pres) overpays privately in Sept last year, buying for $5.5m. These guys HATE to overpay. Wife hates the house, elephant on a pea, she sees something nicer. Let’s move. Let’s price it at 2 MILLION more than what we paid. I call MISPRINT!! But what the hell do I know.

  8. AJ

    Aren’t most of the houses on that street small ranches and capes?

  9. Anonymous

    Looks like this is owned by the same guy who bet $1 million against Warren Buffet. He’s losing that bet…let’s see how he does with Greenwich real estate:

    http://www.cnbc.com/id/100405142

  10. Anonymous

    An absolute ridiculous price for this house!!!!! I want some of what they are smoking!!

  11. GreenITCH

    Ridiculous price perhaps but I will say Hidden Brook is a nicer street with more upside than Hearthstone , Druid or Bramble which are cut through streets and draw a fair amount of additional traffic when school in session

  12. REgardless

    Isn’t the owner the same one who still owns a house on Glen Avon?

  13. Anonymous

    No. Records show he currently owns a house on Hearthstone. The irony…

  14. anon

    I’d buy it for the back covered patio, fireplace, and built-in outdoor kitchen alone. Big pools are overrated. This one fits the property perfectly.

    • Anonymous

      Really? The pool looks like a ridiculous thought. My son was playing street hockey on field- zero privacy bc they have yet to fence or landscape

  15. Anonymous

    I love this house. They have planted privets to add privacy to the pool. If i had the money i would buy it

  16. Anonymous

    I don’t understand this at all. The pool pavilion is nice – but then again your neighbors are so on top of you. The house itself is nice too, but you can easily build that in a better location on better land for less money. So not clear why anyone would go for this one.

    • anon

      I think it goes to what Toonces was saying to begin with, that someone coming out of the city would not find the neighbors being on top of this backyard. It’s all relative.

      • Anonymous

        7.5 puts you in competition with some very nice mid country properties that quite frankly make this place look like a tear down. The price is absurd.

        • Toonces

          I would agree that 7.5 gets into competition with a lot of nice mid country and even waterfront homes. But how many of those are: walk to (what many consider to be) the best elementary school? In addition – a lot of people don’t want to spend the time or hire the staff to take care of a large property. Some parents, too, want their kids to walk over to their friends homes, or bike into town for ice cream. I think both areas are appealing , it’s just a personality/preference thing. You can call the price absurd but to say it’s a tear down is silly. Tear down means that the home is not worth keepingrenovating – this is a beautiful home built by a great builder so I’d say it’s a keep up.

          • a lot of people don’t want to spend the time or hire the staff to take care of a large property.

            That explains the Astro-Turf lawn; I was wondering about that.

      • Anonymous

        One reason people move out of the city is to NOT have neighbors on top of them.

        • Toonces

          Anon – compared to NYC this is a palatial spread/piece of land. There you have a postage stamp and in most cases you do not own the land. I complain sometimes that I don’t want to live on a street here where I can hear any cars going by and my husband just laughs and compares it to NYC. It is quiet and peaceful here in Greenwich compared to the city. Even Meritt/I95/train noise is nothing compared to the sounds of NYC – between the neighbors you hear through the walls and the trucks/cars/buses/sirens of the streets, it’s noisy there!

        • Toonces

          sorry I meant to direct that to Anonymous. Between the Anons, anon, anonymouses it gets confusing.

  17. Anon

    Doron Sabag and Jim Hoffman. Jim Hoffman is an equal partner with Doron Sabag. Jim gets credit for building a nice house just like Doron does.

  18. Anonymous

    if i’m paying seven point five million for a house with a pool, i damned well want to be able to go swim buck nekkid without my neighbors seeing my fat hairy ass.

    therefore, i see no value in this house. pass.