At long last, love

30 Sherwood Avenue

30 Sherwood Avenue

30 Sherwood Avenue, $2.495, listed as both land and residence, has a buyer. The sellers bought this  house and guest cottage on 7.5-acres from Elie Weisel in 2004 for $2.5 million, totally renovated it, added 1,000 square feet to it, and placed it back up for sale in 2010 for $3.850 million. Five years and a lot of price cuts later, it’s on its way to being sold. I wasn’t wildly happy about the renovations:they kind of destroyed the writer’s feel of it, and it has some Merritt exposure, but the house was much more livable after its changes, and it does have a separate building lot, so $2.5 would seem like a bargain on almost any other street. Unfortunately, Sherwood Avenue is one of our “fringe areas”, and it seems that everyone who’s bought here in the pst couple of decades has lost money. The current buyers will probably do okay – the sellers, obviously, lost their shirts.

5 Comments

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5 responses to “At long last, love

  1. Anonymous

    I think the problem is that it’s a ranch. Not much demand for that in the multimillion price range, even if it’s a relative bargain.

  2. exhibits more ranch dressing than ranch style

  3. Anonymous

    The amateurish decorating doesn’t cut it in this price range. Looks like the cornered the market in brown overstuffed leather.

  4. Anonymous

    Chris – speaking of properties that have taken a long time to find love; take a look at 83 burning tree. Took four years and $1mm and went for $1.95 as land. Market is on fire