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, 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.