526 Indian Field Road has sold, for $6.2 million. That makes a lot more sense than its original 2008 price of $11.5 million, and seems a fair price for this much house – 10,450 sq. ft. – on 2 acres in a place like Mead Point. Unfortunately for me, I have buyers who really want to live in Mead Point but very much don’t want this much house. I suggested they just plywood-up the undesired space, but they weren’t buying it, literally and figuratively.
The sale is probably bad news for the would-be sellers of 591 Indian Field Road, now asking $4.995 for an old house in desperate need of renovation (replacement, more likely), on a FAR-restricted, undersized lot of 0.9 acres, that started off in 2009 at $8.9 million. As land value, I’d put it at around $3 but unfortunately, the foreclosing bank wants far more than that.
Buy it at auction.
UPDATE: Oops! I had a reference here to the owners of 591’s legal troubles but I’ve been corrected by a reader. Different couple – same name, but not these people. I apologize.