The difficulty in deciding whether a particular property in this town is indeed a “bargain”, or at least, a good deal, is that, within our 48 square miles of territory, there are dozens and dozens of different neighborhoods and zones, ranging from Field Point Circle’s fabulous 2-acre, waterfront zone, to the little slivers of property, as small as .09 acres, off Byram’s Delavan Avenue, in the R-7 zone, where the minimum lot size is required to be 7,500 square feet (except when it’s even smaller!).
Consider this: A nice, square 1-acre building lot on Riverside’s Club Road would sell for what, $3,000,000 or more? But go one and a half miles away, to Cos Cob’s “Dandy Drive” (off Nifty, corner of Spiffy) and you find that a beautiful acre (with a nice tear-down thrown in) can be had for a mere $785,000!
Check out 44 Dandy Drive, which closed Friday.
And here’s the street history for Dandy Drive, where the highest sale price so far has been around $2.5M. Club Road, on the other hand, has hit $8.675M.
So is the Dandy sale a “bargain”, or simply a reasonable price for that lot on that street?
List: Anthony Chimblo
Sell: Ted Thaxter