Condo Sales Success On Steamboat/Oneida

One of the pricier units (closed at $5.650M) at 2 Oneida Drive, aka "Manero's parking lot"

One of the pricier units (closed at $5.650M) at 2 Oneida Drive, aka “Manero’s parking lot”. All eleven units sold instantly. Listing broker: Michele Tesei.

Unlike stocks, you cannot easily “short” a developer, and that’s a good thing, in the case of builder John Fareri, because you would lose money betting against him!

Fareri and team appeared to have a hard time initially getting the first phase of this project (development of the old Manero’s Restaurant land) sold, but that had more to do with the US government-caused real estate meltdown of 2008.

The next phase, eleven more luxury condos, some direct waterfront, completely sold out before they were even half finished. Named “The Harbor At Greenwich”, it’s located at the corner of Steamboat Road and Oneida Drive, across from the Delamar Hotel.  Prices ranged from $3,325,000 to $5,650,000.

I recall taking a client to the site many months ago. At the time, it was just a muddy field with the bare beginnings of site work.  My client wasn’t impressed and confidently predicted, “They’ll never get these prices!”  The client was terribly, terribly wrong.

Here’s the website: The Harbor At Greenwich

Here’s an alternative link to some of the listings: 2 Oneida Drive

Trouble At Cinderella

  
Yeah, I know, it’s called Citarella, of course! Great store, come here every day, amazing food. Computers? Well, today not so much…

The system is down and a large line of black-coated customers (some sort of Greenwich fashion law, I think) are now standing around getting madder and madder!

1 Sinawoy Road, Darien, CT

DarienProperty

1 Sinawoy Road, Darien, CT, now reduced to $3.995M. Listed by Nancy Dauk at Halstead.

What, Darien again?? Well dammit, I can’t help it if the most picturesque properties happen to be in Darien. I don’t plan on moving there, but if I did, it would be to a place like this one.

Flip through the pictures, see if you agree. I particularly like the grounds with the willow trees, the river, the meadow, all idyllic, if you ask me. The pool’s nice, too, although the mysterious silver balls floating in it remind me strangely of that old British drama, “The Prisoner”.

Oh, and look at the library: real, actual books, can you imagine? Maybe they were placed there by the decorator, but I like to think the owners have actually read them, wouldn’t that be quaint!

 

P.S. Yes, I know that in Greenwich it would be an instant tear-down, thank you.

1 Sinawoy (alternative link)

Dis Obeying De Blasio

Some guy named Casey Neistat, snowboarding behind a Jeep, driven by his brother, through the streets of snow-covered Manhattan. Very cool!

Some guy named Casey Neistat, snowboarding behind a Jeep, driven by his brother, through the streets of snow-covered Manhattan. Very cool!

My brother John sent me the link to this video. My favorite part is the beginning where De Blasio warns citizens not to go out for a drive lest they be “subject to arrest”.

Breaking all the rules, don’t tell the Mayor! (2-minute video, a must watch)

 

When The Government Says Stay Home, You….

Taking the Jag out for some winter exercise. Unfortunately, this model isn't all-wheel-drive, so even with snow tires, it was a little too "adventurous".

Taking the Jag out for some winter exercise. Unfortunately, this model isn’t all-wheel-drive, so even with snow tires, it was a tad “adventurous” (remember, panthers likes the jungle, not the tundra)

Go out, of course! The roads (around Greenwich, anyway) are fine, as long as you’re comfortable driving in snow. Don’t be a cry-baby!

 

The Jaguar stands in front of broker Jean Dana’s listing, at 3 Gisborne Place, off Old Greenwich’s Tomac Avenue, $3,995,000.

(alternative link if the one above becomes disabled)

 

 

The Next Bidding War?

24 Indian Field Road: rough shape yes, but at $550,000, it's a steal.

24 Indian Field Road: rough shape yes, but at $550,000, it’s a steal.

I drove by this place yesterday and peeked in the windows. It looks like a former occupant might have been a bit of a hoarder, there appeared to be cardboard boxes stacked to the ceiling. Oh, and according to the remarks, there is “water damage from a broken pipe”.

One could also gripe about the relatively busy street it’s on, and the proximity of the gas stations, but at $550,000, you can dismiss these petty objections! A price like that in Greenwich puts it near the bottom of our price range, so you take what you can get.

And what you get isn’t all that bad. The property is .3 acres in the R-7 zone, so that means it’s practically a double lot, and it backs up to a fairway of the Milbrook Golf Club. I stood in back yesterday and was amazed by how quiet it was. It dawned on me that this was potentially a good deal.

So what will the market think? I predict the price will be bid up by quite a bit, maybe all the way to $700,000+, who knows? And I think this was smart pricing, either by broker Julianne Ward, or the seller, or both.

Let’s watch this one and see how a (apparent) strategy of under-pricing plays out, shall we?

 

alternative link if the one above gets disabled: 24 Indian Field Road, Greenwich, CT