Daily Archives: April 25, 2016

Conyers Farm status

An inquiry from a possible client about a property in Coyers Farm prompted me to check into sales and to pick the brains  (a quick task) of Mickster and brother Gideon. Gideon very nicely supplied a list of 6 sales up there in the past year and, being Gideon, claims this is evidence of a “come back”. I say it’s a come down, but Gideon’s other point is valid: after a lengthy period where no one wanted to live in Conyers, now they do. At a reduced price, mind you, but still …

In any event, here are some sales:

200 Guards Road, pending: $22,250,000. Appraised (100%) value, $18,000,000

75 Conyers Farm Drive $8,838,000. Appraised value, $12,000,000. Purchased for $10.750 million in 1999, renovated in 2007.

53 Lower Cross Road (beyond the pale) $7.750 million, non-MLS sale. Purchased new, 1998, $4.5 million. Appraised value, $12,146,000.

32 Lower Cross $7.1 – original 2012 asking price, $11.750 million. Appraised value, $9.074 million.

24 lower cross $5.250 million; asked $7.8. Appraised value, $7,217,400.

And going back to October, 2014, David Stockman sold his house at 2 Cowdray Park Drive $13.150, after starting off in 2010 at $23.5 million.

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The college describes it as “an excellent learning tool” and in one sense, I suppose it is

propeller hat

Lake Land College President Josh Bullock concedes defeat, if only a temporary one

FWIW’s official Global Warming Denial correspondent sends along this bit of blog fodder:

Broken wind turbines give college a negative 99.14% return.

Lake Land College recently announced plans to tear down broken wind turbines on campus, after the school got $987,697.20 in taxpayer support for wind power.

The turbines were funded by a $2.5 million grant from the U.S. Department of Labor, but the turbines lasted for less than four years and were incredibly costly to maintain.

“Since the installation in 2012, the college has spent $240,000 in parts and labor to maintain the turbines,” Kelly Allee, Director of Public Relations at Lake Land College, told The Daily Caller News Foundation.

School officials’ original estimates found the turbine would save it $44,000 in electricity annually, far more than the $8,500 they actually generated. Under the original optimistic scenario, the turbines would have to last for 22.5 years just to recoup the costs, not accounting for inflation. If viewed as an investment, the turbines had a return of negative 99.14 percent.

“While they have been an excellent teaching tool for students, they have only generated $8,500 in power in their lifetime,” she said. “One of the reasons for the lower than expected energy power is that the turbines often need to be repaired. They are not a good teaching tool if they are not working.”

The college estimates it would take another $100,000 in repairs to make the turbines function again after one of them was struck by lightning and likely suffered electrical damage last summer.

Even though the college wants to tear down one of the turbines, they are federal assets and “there is a process that has to be followed” according to Allee.

The turbines became operational in 2012 after a 5-year long building campaign intended to reduce the college’s carbon dioxide (CO2) emissions to fight global warming. Even though the turbines cost almost $1 million, the college repeatedly claimed they’d save money in the long run.

“It is becoming more and more difficult for us financially to maintain the turbines,” Josh Bullock, the college’s president, told the Journal Gazette and Times-Courier last week. “I think it was an extremely worthy experiment when they were installed, but they just have not performed to our expectations to this point.”

Bullock states that the turbines simply haven’t been able to power the campus’ buildings and that most of the electricity wasn’t effectively used.

And this, of course:

Lake Land plans to replace the two failed turbines with a solar power system paid for by a government grant. “[T]he photovoltaic panels are expected to save the college between $50,000 and $60,000 this year,”Allee told the DCNF.

 

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Price cuts

282 Taconic

282 Taconic Rd

282 Taconic Road has taken a teeny price cut, from $3.895 million to $3.750. This house was once owned (and built) by a good friend of mine, but only that friendship prevented me from asking, “what the F were you thinking?!” Huge columns that make no sense at all, a swamp for a front yard and no back yard at all; it’s pretty weird.

Still he did mange to sell it for $3.275 to these owners in 2004, and they obviously liked it enough to stay there for 12 years (my friend loved it too, by the way), so this one’s just a matter of taste: it’s not to mine, it might well be to yours.

21 KENILORTH

21 Kenilworth

And speaking of taste, how do you feel about old (1893) converted barns? I’m not sure I’d want to live at 21 Kenilworth, now reduced to $3.695, but I might. It’s certainly not your cookie cutter modern spec, and Kenilworth is a quiet street, close to town. I think the house is very cool; I’m just not sure how it would be to live in it.

Still, if you’re looking in this range, make sure to see this one, if only as a palate cleanser after touring the usual vanilla offerings in the mid-three range, and with the possibility that you’ll fall in love with it. Not for everyone, but someone’s going to appreciate this house.

45 Burying Hill

45 Burying Hill Rd

(Way) further north, those eight acres at 45 Burying Hill are now asking $3.450 million, down considerably from the $5.995 demanded in 2014. Great land, with a couple of tear downs on it. Toss a bid of $2.995 at it and tell Joe Barbieri Chris told you to do it. Joe can take a joke – and the heirs might just grab your offer.

 

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Two more contracts

21 Baldwin Farms S

21 Baldwin Farms South

21 Baldwin Farms S., $3.495 million. Just 11 days on the market. Not my taste, but a lot of house on a good street, so why not?

15 Indian Head Rd

15 Indian Head Rd

And from the knock me over with a feather department, 15 Indian Head Road, $1.5 million , has a contract in just 21 days. Unless it’s being bought by neighbor to be torn down,I can’t imagine what cane done with this lot that makes economic sense.

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Contracts reported

219 Prchard

219 Orchard, Cos Cob

219 Orchard Street, which sold new for $2.7 in 2008 and spent last year looking for $2.9 million, dropped to $2.325, and has found a buyer. I think that’s an excellent deal. Lovely, well built house, but with not much of any usable yard.

65 Fairflied

65 Fairfield

Around the corner, sort of, 65 Fairfield Road, $1.595 million has a contract. I’ve always liked this house, built in 1848 and modernized back in the 1990s. It wouldn’t move at $2.1 back in 2006, and t’s hung around this time since 2014, but assuming the latest asking price was negotiated downward a bit then busy road or no, it seems like a good buy. It certainly can’t be considered an “antique” anymore, but there are still some very nice features left, and what the owners and their architect redid and added worked for me, at least.

26 Lindsay

26 Lindsay Drive

Off North Street, 26 Lindsay Drive sold quickly (69 days), even at $5.295, and I’m not surprised. Very nice house, if this is your style, convenient location on great grounds. The owners paid $4.295 for it in 2002 and I’d guess they put most of this current appreciation into expanding, renovating and maintaining the house. Unlike some other sales recently, this one I understand.

19 Lockwood

19 Lockwood Drive, Old Greenwich

Speaking of which, 19 Lockwood Drive is selling just 40 days after being listed at $1.695. Lot size, 0.13 acre. Oh well, it’s Old Greenwich.

55 summit

55 Summit Road, Riverside

55 Summit Road, on the corner of Drinkwater, asked $1.850 last September, eventually dropped to $1.699 and has a contract. It’s certainly convenient to the train, and Riverside School, so I guess that’s the draw.

 

 

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