Sister Lorin was visiting last week and she took this picture at sunset from our deck.
123 Wallaks Drive
This 2003, direct waterfront home on Shippan Point came on for sale this spring at $5.6 million and has yet to sell. Today it was marked down 30% to $3.6 million. I’ve always had a problem with the approach to Shippan: past the sewage plant and car dealers, etc. but once there it’s awfully nice. And this house looks great. You certainly couldn’t find a relatively new house on an acre of direct waterfront for anything close to this price in Greenwich but then again, this isn’t in Greenwich.
18 Highgate Rd
$12.9 million Riverside waterfront goes to contract
I mentioned this at the beginning of the week but couldn’t give details until the contract was officially reported. The odd thing about real estate is that, no matter what kind of market we’re in, the magic words, “you can’t have it” seem to stir buyers into action. When rumors spread that a contract is pending, other agents call their own buyers and say, “you’d better move fast”. And it works.
But this time all went well. Barbie Jackson (Cleveland, Duble & Arnold) found the buyer. I don’t know what the final selling price will be but the listing is only 60 days old so I’d imagine it’s close to ask. Nice land, good view, although much of it is of the inner harbor – that gossip columnist in town should perch her chair here on the lawn because it’s straight across the water to Cathy and Frank’s place – no need to beg Valbella’s staff to report sightings.
Whatever – it’s nice to see that someone still has money and is willing to spend it. I suppose the lesson here is that Greenwich waterfront will always be the last real estate to feel the depression, if it feels it at all. Buy more.