Daily Archives: October 19, 2015

Somebody wants to sell

8 Grove Lane

8 Grove Lane

8 Grove Lane came on the market at $4.065 this past September 25 and has already had two price cuts so that today it’s at $3.250 million. I don’t know whether that’s the right price yet, but clearly the buyer and his agent (Curtis Wood) know what to do in the face of market indifference.

Listing says (at least part of) the house was built in 1798 by one of the Meads and until 1929 stood on the corner that Greenwich Library now occupies, when it was moved here. That’s pretty neat. I’m up in Portland – John’s doing poorly – but I’ll try to get younger brother Gideon over there to tomorrow’s broker open house and send me a report.

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Back country continues to lag

50 Porchuck Road

50 Porchuck Road

50 Porchuck, last asking $2.795, reports a contract. It’s a lot of space – 5,800, the listing claims – and renovated, on 4 acres. Couldn’t touch it at this price closer to town but then, it isn’t close to town.

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New construction is still selling

20 Carriglea

20 Carriglea

20 Carriglea Drive, in Riverside, off Indian Head Road, is pending sale at (asking) $6.650 million. Technically, it was on the market for a year, but that’s not uncommon for houses under construction: many buyers are reluctant to commit before they can actually see what they’ll be getting. Too bad, because you can often work a discount by relieving the builder of his uncertainty. On the other hand, the builder paid $1.8 million for the lot, so there seems to be plenty of room here for a tidy profit, and thus no particular reason to sweat during the construction phase.

Listing claims 7,863 sq. feet, but if FAR rules were followed, that would put 2,000 of that in the basement. I’d guess it’s about 11/2 miles from the train and schools, and that was well within walking distance back when I grew up in Riverside. These days, maybe not.

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Riverside sale

31 Owenoke Way

31 Owenoke Way

After a year on the market, and after starting at $4.4 million, 31 Owenoke Way has closed at $3.675. Sellers bought it new from its builder in March, 2007 for $3.902 million, demonstrating, probably, that buying a depreciable asset at the height of a market is not always a recipe for success.

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Land sale in Havermeyer

19 Watch Tower Lane

19 Watch Tower Lane

19 Watch Tower Lane, $1.175 million. It’s technically still pending, but that process took less than 10 days, so demand was high. Bidding war? I’m not aware of one, but I wouldn’t be surprised if there had been. The lot is located on the high end of Watch Tower, so it will have a good view of the Sound, and most important, it’s 0.38 of an acre in the R-12 zone- 150% larger than required. FAR will be 5,200 sq.ft., which is a great size for this neighborhood, if you’re a builder.

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Contingent contract in Riverside

55 Summit Rd

55 Summit Rd

55 Summit Road, asking $1.850 million and, given the short time it’s spent on the market, probably getting close to that, has a contract. Nice house inside, and this is well within the range of what houses in good condition are getting on this busy street, but still … gosh.

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In this vicious campaign, the politicians will do anything for a vote

In a shocking development, FWIW has discovered a picture of First Selectman candidate and, not coincidentally, our CT Lottery Commissioner Francis X. Fudrucker paying off a Greenwich police officer with a winning million-dollar lottery ticket. “Alright, it’s not entirely Kosher,” Fudrucker admitted when confronted with the evidence by FWIW, “but we need the police vote, and you know some undeserving Muslim or Tea Party member would win it anyway, so why not spend the money where it will do some good?’

An impoverished, bitter Peter Tesei was sulking in his executive suite and could not be reached for comment.

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