Gid Fit

Ok, so I’m already “fit”, by most definitions, but I was invited to get a fitness evaluation by my pal Sean Mageau*, Head Trainer at Equinox, so…why not?

After much testing and evaluating, I learned that my body is eleven years younger than my chronological age, for gosh sakes. Equinox also has a high-tech machine that measures your maturity. On that scale, I’m thirty eight years younger than my body…amazing!

*He really should consider calling himself “Mr. Magoo”, but unfortunately, it’s pronounced “Ma-ZHOE” (the ZHOE rhymes with “dough”, got it?)

Gid getting tested; supervised by EQUINOX’s top dude, Sean Mageau (people around me asked me to wear that mask). Photo by trainer Lauren McConnell.

12 Indian Drive

12 Indian Drive,  like 70 Meadow Road, sold lickety-split (about 24 days).  I had heard there was plenty of bidding, but did someone really step up to the ask of $14,500,000?? A client of mine who lives nearby swears the number is $12M…maybe it is, maybe it ain’t.

Here are three recent “comps” to help us all decide…     My guess?  $12M+.

P.S. There’s been a fair amount of criticism of the interior decorating at 12 Indian.  The kindest word I’ve heard was “bland”, but my opinion is, if you live on the water, really live on the water like this one, you simply don’t need all that much decoration.  Why detract from the main event?

12 Indian Drive, sea gull view. True, honest-to-God waterfront.

70 Meadow Road

Well, both Realtors and general public alike seem convinced that 70 Meadow Road was bought by a builder, and why not?  2.1 acres in the R-20 zone, that’s big.

Let’s see, an acre is 43,560 square feet, the minimum lot size in the R-20 zone is (duh!) 20,000 square feet so….2.1 X 43,560 = 91,476 square feet, that’s 4 1/2 times the size of a minimum lot.  The property has zoning approval for three lots so all of them would be over-sized with loads of FAR.

Yep, it all makes sense for a builder, ‘specially if you could get, how much each for a big mansion on a prime part of Riverside’s Meadow Road?  $5.5M?  $6M? $6.5M??

But wait, my friends, wait.  Suppose the whole thing was bought by one end-user. Impossible, you say?  Think back to broker Gideon Fountain’s listing at 73 Club Road from  a year or so ago.  That was 2.62 acres of waterfront in the R-1 zone and builders were bidding. But ultimately who stepped up and paid $8,000,000?

One end-user, that’s who.

Maybe a builder bought 70 Meadow Road and maybe not.

70 Meadow Road…will the mystery buyer please stand up?

Yikes, that was fast.

;

12 Indian Drive, Old Greenwich: Spectacular view from every angle.

12 Indian Drive: Executed contracts

70 Meadow Road: Accepted offer contracts

This sort of thing must be a teensy-weensy bit discouraging to folks that have properties on the market that aren’t selling. On the other hand, it has been my observation over these many years that as long as something is selling, yours will too. Hang in there!

(I will have more to say about these two properties later this evening)

President Obama is evolving…

After having a heart-felt discussion with daughters Malia and Sasha, the President has decided he now favors gay marriage.  That sounds nice, sweet, even.  Unfortunately, there’s the record…

Elliott Abrams, writing for The Weekly Standard, carefully chronicles the FOUR positions Obama has held on this issue.  It’s a short little article, but if you don’t feel like reading it, here’s a summation:

Obama’s position on gay marriage, as time went by…

1996:  “I support gay marriage.” (Running for local office)

2004:  “I support civil unions.” (Running for Senate)

2008:  “I am not in favor of gay marriage.” (Running for President)

2012:  “I am in favor of gay marriage.” (Running for re-election)

As journalist Abrams shows, Obama has changed each time according to the political expediency of the moment. Flip-flopping is hardly unusal for a politician, obviously, but the way 90% of the media will handle this case, of a Democrat politician caught in a bald-faced lie, is so, so tiresomely predictable. 

You can read these direct quotes from the President taking first one position, then another, in places like The Weekly Standard (and right here at Bored and Razed), but that’s about it. Not a peep will you hear from the major news outlets.   

Don’t worry, Mr. President,

President Obama…”evolving” before our eyes!

the media’s got your back!

 

39 Patterson Avenue

A rival real estate blog has opined that this place is “worth $2.5M”…sorry, no. The land alone, maybe, but even that sounds a tad low.

39 Patterson Avenue, on .86 acres, is one of those grand old mansions (6,785 sq. ft.) like they used to build; built in 1850, for heaven’s sake, with a nice little guest house which, because of all that extra land, stands a considerable distance* from the main house. R-20 zone so FAR = 8,428 sq. ft.)

Last updated in 1986 but, to me at least, does not feel tired. Everything looks to be in perfect shape, the layout continues to be sensible, ceilings high, hallways broad, bedrooms large. All good, definitely worth a look.

Oh, did I mention it is located exactly between the two most desirable private schools in the country?? Brunswick is 50 paces away, Greenwich Academy, a few hundred. No bus, no (mommy) chauffeuring! Do you get how rare that is?

39 Patterson Avenue, side view: Gid and dog walk past this place every evening. Gid likes! (dog waters hedge).

As is often the case, there are no recent, direct comparables, so we’ll work at this one from above and below…

9 Maher Avenue, about nine houses away. 2,983 sq. ft., updated 2008, property .22 acres, fetched $2,350,000 last year.

37 Maher Avenue, six houses away, 5,500 (?) sq. ft., updated 2006 with pool and wonderful pool house, .88 acres, got $4,075,000 this year.

Somewhere between these two lies the value of 39 Patterson (corner of Maher and Patterson). I’m saying $3.5M+, depending on whether two or more buyers end up competing for it.

* Guest houses should always be placed “a considerable distance” from the main house.

11 Hycliff Road sells!

At the risk of sounding a wee-bit repetitive, Great Caesar’s Ghost, finally!  Care to guess how long this one took?  Raise your hand if you think you know…yes, you there in the back.  A year? Ha! Three years?  Wrong!  No, the answer is FIVE YEARS AND THREE MONTHS.

That’s right, 11 Hycliff Road came on back in the heady days of yore, on a crisp, clear February 9th, 2007; remember those days?  The initial price, an optimistic (and weren’t we all) $4,995,000. Today’s reported selling price:  $1,895,850.

That selling price is about 38% of the original ask, not good.  And unfortunately, this is not a rare situation.  Greenwich is a town positively filled with homeowners who don’t really need to sell, I understand that.  But FIVE YEARS?? Come now, people!

The moral:  Don’t let this happen to you.  Don’t keep “waiting for the right buyer”. Pick some number of showings, 10?  20? 50?? and after that’s happened, lower your price, as many times as it takes,

11 Hycliff Road, on for five years, what on earth was wrong with it? Nothing! Scroll through the pictures (visit attached link), it’s beautiful. Learn the lesson from this listing!

and move on.

19 Witherell Drive sells!

UPDATE: Sorry, forgot to provide the damn link! for 19 Witherell Drive.

Phew, it’s finally off the market. Honestly, I can’t remember a time in the last 11? 12? 14? years when it wasn’t on the market. Way back when, on its first go’round, it sat around for a few years, finally selling in 2003 for $5,200,000. Then it came back on and remained for sale with various brokers every since.

Oddly enough, it happens to be a beautiful place, I might even use the word “idyllic” (which was not the case when it was the grubby little tear-down notorious lawyer Roy Cohn used as his rented country hideaway).

19 Witherell Drive, even better than it looks, and only about 3 1/2 minutes to town.

so that just shows you the harm caused by over-pricing.

Remember kids, no matter how wonderful it is, it can still be priced so high that no one wants it.

Today’s selling price: $5,000,000

Listing broker: Julianne Ward

Selling broker: Joe Barbieri