Contract, sale, price cut (3 different properties)

2 willow lane

2 Willow Lane

2 Willow Lane, Old Greenwich (just off Sound Beach Avenue), came on at $1.485 on May 24th and already has a pending contract, which means all contingencies have been met and the parties are just awaiting closing. The house needs everything, but it’s kinda cute, close to town, and South of the Village, so this one is easy to understand.

7 Old RoundHillLane

7 Old Round Hill Lane

Not sure what to make of 7 Old Round Hill Lane, which is that small development off of Old Mill, that closed Friday at $10,442,990 – a clearly – negotiated number that strongly  suggests, to me at least, that there was a financial guy on both sides of this deal – who else sweats pennies like this, or finds it fun? More power to them, of course.

The seller paid $7.519 for it in 2002 (“$519” – I told you he was in the financial industry) and on its face, this sale price 14 years later seems like a home run, but the listing says that “The 2015 renovation was done to perfection with all interiors transformed into today’s much sought after urban chic style.” I have no idea what that means and I probably wouldn’t like it*, but it does sound expensive. The owner listed it immediately afterwards for $12 million, so I’m guessing that if he sent to money to increase its resale value, he didn’t make out all that well.

  • I take that back – the interior is clean and spare and incredibly attractive, and if that’s what “urban chic” is, I’m all in.

On the other hand, if those 14,000 square feet were looking a bit time worn after 13 years, he might not have been ables to sell it all without a complete facelift, so there you have it.

230 Bedord Rd

230 Bedford Road

And even further north, way up one the border, poor old 230 Bedford Road has taken another price cut and is now down to $2.9 million. I’ve always liked this house. I liked it in 2004, when it sold for $4 million (I didn’t like its price, but the house was great), I liked it even more when it was completely redone in 2008, but no one liked its $5.5 asking price, and in fact no one liked it enough to buy it until its price dropped to $2.8 five years later, in 2013. It’s now been back up for sale for a year now, and still no buyers, which makes that 2013 purchase price, which seemed to be a bargain at the time, look like a mistake. Bedford Road has always been a very, very hard sell, and these days it seems hardly to sell at all.

29 Comments

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29 responses to “Contract, sale, price cut (3 different properties)

  1. Would be fun one day to present the same headline and three houses but let US choose which went to contract, which reduced its price and which one went wee wee all the way home.

    Cry, the Beloved 230 Bedford Road. I weep for thee. Chris, you and I are the only two who liked it I guess.

    Now, as for the star of the show, Old Round Hill Lane. Wow, just freaking wow. At 14,000 square feet, 2.86 acres so lushly manicured and that pool, oh that pool, not to mention the six bunks in the playroom with a kitchen – whoever bought this got a STEAL. I think it is the steal of the century, that is if you can afford $10m and want such a huge house. Lucky lucky lucky peeps – and I don’t normally like this kind of house but did I say wow, just wow? PS: the seller and wife must be outrageously fit. That gym in the basement has more equipment than an Equinox!

    • EOSr – no – I Iiked 230 Bedford too! In fact we went to see it when we were in the market… but I believe when we saw it for sale in 2012 they were asking 3.8. Maybe less, but it was too much…. Absolutely cool and gorgeous house. One of my favorites.

      • Wow, really? Great minds think alike, and all….. 🙂

        The problems I think some buyers would have (and we did too) –

        the garage fits nothing.
        The house is right ON the road.
        The back deck isn’t big enough.

        Families with little kids might also be worried about the pond and no railing on the back deck. It’s an empty nester home, in my opinion.

        • No railing on the back deck? Isn’t that a building code violation?

          • Good point. I don’t remember thinking it was a problem for adults, as long as they remained sober.

            Can anyone dig up a cached listing of this house from before 2013? I don’t know how to do that. The previous owners had it decorated with a much more cozy feeling, much warmer, and the old listing had a zillion more photos too. The room with the tiled fireplace was scrumptious. I am sure it was an Ogilvy listing at the time I called Chris to look at it.

        • Toonces

          I think it is more empty nest also. We rented on the lagoon in Belvedere when our kid was 5 and the first thing I did before even moving in, was put up a fence across the water (easy with 70 feet of frontage). Not so easy with a lake….

  2. wickets

    230 bedford is one of the nicest homes ive seen on your site…..is the location really that bad that it wasnt sold 3 minutes after it went on sale

  3. Anonymous

    7 Old Round Hill Lane is perfection

    • Cos Cobber

      Field Road has that towering ledge behind it – same ledge behind the M&T Bank from the other side. This pic looks to be from the back of the property across a plateau of sorts towards the house which has that ever so nifty ‘sunken’ house look from the rear. Its not a wise photo to include.

    • Anonymous

      That place frightens me..Gives me a bad vibe….

    • Mickster🍀🍀🍀

      Good spotting!!
      Buyers apparently preferred the old listing agent and listed with her. Whaddu gonna do?
      Difficult choice for a family… more of a weekend place for a NYC couple.

      • “Preferred the old listing agent, who did such a fine job for her sellers?$5.5 to $2.8? Who never thought to look into the school option? Hmm- how’s that working out for them, one year on?

        • Anonymous

          Are you revealing this info on a public blog because they dropped you as a broker or something? When is it appropriate to discuss a client’s financial situation like this?

          • I think it was an injudicious comment myself, so I pulled it. The trouble with this form of communication is that we (well I have,certainly) fire off a comment that we instantly regret but can’t take back. That’s why it’s good to be the administrator!

    • Oh my, why do I forget that the Mickster is the one who dug deep and discovered that, for $200 in NY taxes to cover the 1/4 acre that juts across the border, the owners could send their kids to one of the best schools around? Based on that, he sold it to his clients, resourceful man that he is.

  4. Anonymous

    Bedford road is just amazing. Yes, location is not great but if you work in town it’s okay — you still have a commute that’s 1/4 the time of your colleagues working in the city.

  5. AK

    I’ve been eyeing 2 Willow. Great friends of ours live next door.