Missed opportunity

39 Doubling Rd

39 Doubling Rd

39 Doubling Road, bank owned, has sold for $2.9 million. Ogilvy sold it (he had both sides of the deal), in 18 days, for its full price of $6.250 million back in 2007, and though that was a ridiculous price, $2.9 is  a good deal. Most painful to me, I contacted every client I had just before the foreclosure became final, advising them, truthfully – inside information, sort of – that they could buy this for $2.5 million. No one bit, even though that was pure land value.

The house could easily absorb another $2.5 in updates and restoration, but it will be worth more than that when it is. Or, torn down and replaced, it will also be worth a fair penny.

8 Comments

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8 responses to “Missed opportunity

  1. Ogilvy celebration at poolside there

  2. The New Normal

    what was the common complaint by your clients who were in the market to purchase? why didn’t they bite?

    • Resisted doing the work involved. There are a lot (well, certainly some) real bargains out there, for people willing to (hire someone) to do the work; these days, I find fewer buyers who are.

  3. no name

    I really loved this house too. I went to see it with my architect, who is fearless, and even he and I were slightly stumped as to how you could turn this house into a four bedroom house in the front of the house (there is no hallway to take you to back bedrooms that were staff rooms in days gone by.) As fabulous as it is, so much of the sf is in the lower level. I salute whoever is going to buy this and make sense of this and certainly hope this is not going to be torn down for land.

  4. Toonces

    I loved this house. One needed a large budget for it though – spend the purchase price yet again on renos and it would be a killer pad. It did (really badly) need a 4 car garage though.

  5. i dunno, the feckless proportions of that front portico told me volumes about what not to expect inside

  6. Anonymous

    Gotta assume this is one for the wrecking ball, expect to see a Kali Nagy style house in 12 months.