Real estate stirrings, especially in the lower end of the market

108 Orchard street

108 Orchard Street

108 Orchard Street, on the market for 9 days and priced at $825,000, reports a contingent contract. At this price, it could be going to an end user or a builder; it would make sense for either one.

11 Old Forge Road

11 Old Forge Road

11 Old Forge Road, $1.650 million, reports fully executed contracts, contingencies (if any) met, and a pending sale. I’m not taking credit for this, but when I gave it some attention on January 25th, I heard from a potential buyer who was interested in it, but when we called to view it, we learned that it had just accepted an offer. In this case, I praised the house, but some agents who get so angry with me for mentioning a house should realize that, good or bad, a little extra-Zillow publicity can’t hurt.

185 N. Maple

185 N. Maple

185 North Maple asked $1.625 million, got $1.150 and closed yesterday. The house is a meh, but at this price ….

7 crawford

7 Crawford Terrace

7 Crawford Terrace stuck firm at $1.2 million until today, when the owners dropped it to $1.095. Sounds like they maybe got the message.

12 Comments

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12 responses to “Real estate stirrings, especially in the lower end of the market

  1. Cos Cobber

    Yes, the sub $1M market seems to be gaining stride. Remember, the house in front of this one of similar quality, with the address 108k Orchard, went to contract in relatively short order too (perhaps in 30 days?). Both 108 and 108k present a decent spec house opportunity for someone as the lots are decent sized and the buildings themselves are among the ‘lesser’ homes on the street as this stretch of Orchard continues its rebuild. The synagogue down the street will only hurt the adjacent properties, the rest of the area will be fine.

    • I think even the Synagogue will turn out to be a neutral influence. Certainly St. Paul’s church, which was built in Riverside in about 1955, didn’t hurt property values, and St. Savior’s presence hasn’t stopped house values from appreciating around it.

      • Cos Cobber

        Yes, but adjacent homes will take a valuation dent. I don’t see how a home immediately adjacent to the site isn’t negatively impacted on valuation…particularly given the density of the development and thin buffers to be constructed.

      • St. Paul’s is on over six acres with big buffers between the sanctuary/parking lot and the abutting neighbors (except those directly across on Riverside avenue and Indian Head). GRS is on less than 2.

        • Well hell, half that space is devoted to storing dead Episcopalians, and that’s not exactly the “buffer” everyone wants, and the other three acres are buried under asphalt. A smelter might affect some neighborhood values, I suppose, but we’re talking about a church, and we’re talking about Cos Cob. Shouldn’t hurt a bit, if they’ll just lie back and enjoy it.

  2. Anonymous

    i love that old forge house. lucky buyer

  3. Anonymous

    11 Old Forge is nice (except the 3 bedrooms downstairs). Everything else needs updating or should be torn down.

  4. Fatdaddy

    Today’s “low end” is tomorrow’s high end in Malloy’s Connecticut.
    Another great job from the Malloy Administration…What? Were they Republicans?

    “Ergotech, a Danbury, Conn., company that recently expanded its manufacturing operation into the Parkland Center industrial park near Oneco, is relocating its corporate headquarters to Manatee County… It was founded and is headed by Earl Hagman, a Swedish national. He attempted to get permits to build a 20,000-square-foot light industrial plant near Danbury two years ago, but abandoned those plans when local residents objected.”

    • Another victim of BANANA – build absolutely nothing anywhere near anything.

      I’m seeing it now in Westchester as people protest the expansion of an existing natural gas pipeline. These are of course the same people who think that Indian Point should be closed without spinning up any natural gas fired power plants to offset the loss of Indian Point’s generating capacity.

      I guess they think that if they wish hard enough that 25% of our regional demand for electricity will just vanish.