Not quite a rumor, actually, but Greenwich “Patch”, or one of those quasi newspapers reported a couple of days ago the sale of 136 Field Point Circle for the tidy sum of $20,000,000.
This is Field Point Circle, of course, so $20M doesn’t seem out of line, but since there appears to be no broker involvement, we’re all suspicious.
“Can’t two parties get together and sell a house without you brokers poking your nose in?”, I hear you ask. Answer, yes, by all means, and it does happen! But it’s rare. If we brokers were that easy to do without, people would be, wouldn’t they, in this Internet Age. Yet, here we all are, still working.
So is this “sale” of 136 Field Point Circle an arms-length transaction? Or is it mere estate property-shuffling, or some other kind of tax related transfer? More importantly, is $20M what it’s actually worth?
On the one hand, we have 120 Field Point Circle, which sold last year for $25,000,000. Based on that magnificent house, I’d say $20M is too much for the obviously inferior 136 Field Point Circle.
On the (still another) other hand, we have the sale of 30 Field Point Circle this year for $12,368,700. It was 2.28 acres of non-waterfront property (albeit, with some great views) and a couple of charming* old, small brick buildings. If 30 FPC got that much, why shouldn’t 136 FPC get $20M? Maybe it makes sense!
By the way, if a well-known financier’s Field Point Circle place should come on soon, I predict the asking price will be $59,000,000.
*Yes, sadly, “charming” is code for….tear-down!