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.
weird design
http://namawinelake.wordpress.com/2013/04/17/exclusive-sean-dunnes-connecticut-house-though-theres-no-one-home/
It is a bit odd, but it grew on me over the years. Too big, though, for many people, including me.
Seems there is a real shift against 10K square foot maxi pads. Irrespective of the buyer’s wealth.
Don’t think so. Plenty of huge houses selling at huge prices. This one was just odd.
Bloomberg has an article on tiny houses today.
http://bloom.bg/1n672uP
There goes that window in the floor again.
Tax card says it’s 7,700sf, but who’s counting.
591 is or was before foreclosure owned by these guys:
http://www.businessinsider.com/awesome-greenwich-couple-says-we-didnt-scam-anyone-we-took-profits-and-would-do-it-again-2010-4
sounds like they belong on Round Hill with this kind of background.
awesome!
MP stone are not the penny stock scroundrels in the Bus. Insider article.
Same name but that’s all.