(Partial) Real estate wrap-up for the week that was

54 Loughlin Avenue

54 Laughlin Avenue

54 Loughlin Avenue, asking $1.250 million, has a contract just 18 days after hitting the market. If you deduct the days between an accepted offer and actually getting to contract, I wouldn’t be surprised if this home found a buyer in about a week. It’s tiny, by Greenwich standards, and the kitchen won’t be featured in an upcoming episode of “Millionire’s Galleys”, but that’s not what this price range is about, in Greenwich. A young couple, maybe with a baby of two, moves out from the city to a very decent house, right in town. Nice deal.

187 Shore road

187 Shore Road

187 Shore Road, Old Greenwich, sold for $3.120 million.  As dictated by Greenwich Association of Realtors’ rules, the photos have been stripped from the internet listings, but if you search Google Images for the address you’ll find them. Forever, in fact, which makes the GAR’s rule so baffling.

The owner paid $2,937,500 for this in 2013, and tried to get $3.995 for it when this was placed back on the market last year. I think she’s lucky to get out with her hide (the buyer here was represented by an out-of-town agent). Nice house, in the VE and AE flood zones. The previous listing claimed that “the first floor is FEMA compliant” which is exactly the same thing as “just a little bit pregnant. This house may sit on a half-acre, but any idea of expanding its 3.276 sq.ft., with a ground floor level subject to regular flooding, should be discarded. There’s no question that a house that’s stood up to hurricanes since 1898 isn’t going to float away now, but the new regulations kill places like this, absent complete rebuilds.

So, $1,000 per square foot? Seems excessive.

 

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8 Comments

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8 responses to “(Partial) Real estate wrap-up for the week that was

  1. I grew up next door to 187 Shore Rd. I don’t know what the various reno’s have done over the years but back in the day it was a lot of small rooms, as you would expect for a house that was built over a hundred years ago.

    There are two problems with that stretch of Shore Rd. Several times a year expect flooding or even an unusually high tide to deposit a layer of seaweed in the back yard which is then a big PITA to clean up. The other issue is that during the summer traffic heading down to the beach can be so heavy at certain times of day that you need someone to stop traffic to get out of the driveway. It’s a great location with those two caveats.

    • Yeah well, I did say it was sold by a broker from out of town, didn’t I. Why take advantage of local knowledge when your best friend’s sister in Nw Canaan can do the same job?

  2. Anonymous

    didn’t the seller of 187 completely redo the house? It was very original when she/he bought it and they put in a new kitchen, baths and lots of upgrades. So I think 1k per square foot it entirely reasonable for a done house on the water near the beach

  3. Patrishka

    No eat in kitchen in either of my starter homes! Best wishes to the new owners of the Laughlin house.