This home on Lauder Way may hold the title of longest resident on our MLS – 15 years, but its owner may finally be getting serious, because he dropped its price today from $6.5 million to $5.2. Mind you, its price was just $4.5 million back in 1995 when this whole process started, but adjusted for inflation, maybe ….
Tag Archives: 9 Lauder Way
Usually, by the time Greenwich Time’s Susan Nova takes pity on a home owner and writes about his house for sale, it’s been languishing so long that even the owner has forgotten it’s on the market. This Lauder Way story is no exception. It has been for sale, on or off, at least since 1995, starting at $4.5 million, dropping into the $3s and, after some renovations, returning to the market at $7.250 in 2007. In the years since its only dropped to $6.5 million (assessment is $3.6) so obviously, these are not people in a hurry to move.
It’s a lovely house and Nova captures its long history beautifully, but I particularly liked this portion of the story detailing one of the son’s sailing habits; reminds me of my own days in New Haven (that’s joke, GG) and the pain I felt when my classmates chided me for my extravagance. Ah, the lonliness of the misunderstood genius!
An avid sailor, George Jr. kept his boat “Endymion,” a 136-foot black schooner together with its 20-man crew, in New Haven during the weekdays when he attended Yale. On the weekends, they all returned to Greenwich.
Yesterday the owner of 9 Lauder Way came to his senses, realized he hadn’t sold his house after years of trying and cut his price to $5.2 million. That’s still far above its assessed value of $3.6 million but it was certainly a good start, a start that ended today – he’s yanked it back up to $6.5 million – no one’s going to steal his house! What a yo-yo.
I ws scanning the data, looking for houses in the $3-6 million range that have been on for a long time, reasoning that some might have come down low enough to prove an attractive bargain for some clients here this weekend. I didn’t find much, but I did see 9 Lauder Way, Ml. # 65448, which is a great old house completely redone in 1991 and still in good shape. Good land: 1.8 acres, with pool, and excellent location, but I crossed it off my show list because these are obviously sellers who want their price and are willingg to hang on forever until they get it. I don’t fault them at all – it’s a lovely house, but its $6.5 price tag, down just a touch from its 2007 price of $7.205, doesn’t give the sense of bargain that my clients want. Especially when assessed value is $3.693.
The (non) sales history of this huse is even more daunting. They tried to get $4.5 million for it in 1995 and kept it on the market until 1999 but reduced it to just $4.025 over those four years. Now it’s been back since 2007, adjusted to accommodate what the seller obviously feels is a proper rate of appreciation, and again, haven’t budged.
So we won’t be visiting this one.