Hey Baby, What’s New? 41 Listings

Pardon that loathsome “street hustler” title quotation, but the fact is,

41 new listings came on this week.

Now, the wise-guys among you will immediately say, “Phaw! Aren’t most of ’em just re-treads, freshly signed up with a new broker, and a new (lower) price?” To which I say, yes and no. In truth, there are some re-treads here, but among them, many new offerings.

Speaking of re-treads, here is my favorite:

5 Lindsay Drive , off North Street (link shows current listing, and the listing from when it sold in 2004 for $3,205,000).

This property, on a street with substantial mega-mansions, has always been marketed as a potential tear-down, at one point asking $4.750M, back in 2008, but I consider it to be highly livable.

Architecturally speaking, it’s probably not at the top of anyone’s list, but it is a great house PLUS, you get a fairly large carrige house, located a good, long distance from the main house, presently rented for $4,000/month! Like, like like.

5 Lindsay Drive, $3.895M. The last sale on the street was $8M in March. Gideon says "Buy".

5 Lindsay Drive, $3.895M. The last sale on the street was $8M in March. Gideon says “Buy”.

11 thoughts on “Hey Baby, What’s New? 41 Listings

  1. Gid,
    4000 a month. Impossible. Did you mean 14000 a month.
    The home we just bought was rented for 4500 / month for the last two years, and we bought it for under 1mil.

    • +F:
      Nope, no mistake, take another look at the listing (of 5 Lindsay Drive) and then click on the photos. Picture #14 shows the 3,700 square foot guest house. Given it’s size, distance from the main house, and location in such a swanky neighborhood, the rent makes sense.

      Note: You are asking about the guest house rent, correct? As for the main house, it would rent for around $15,000-18,000/month.
      Oops: Just looked it up…the main house last rented for $11,250/month. And here is a 2008 rental listing for the guest house.

  2. Picture #14 shows the 3,700 square foot guest house, which matches the picture of the 2,219 square feet guest house in the rental listing in 2008. Is the seller using a different currency?

    • Anon:
      Dammit, I hate it when readers pick up stuff that I have missed! So yes, isn’t that an interesting discrepancy…
      Just for you? I’ll interview the owner/broker and see what’s up.
      Watch this space for an update.

  3. Hey Gideon – What does this mean for the main house? Obviously a zoning issue having two houses on one lot. If you wanted to expand on the main house – would the town potentially want you to tear down the rental?

    • D:
      The owner/broker says there’s already 8,700 square feet on this 2-acre lot (max FAR = 7,840 sqft) so, yes, the Town would indeed insist on eliminating that guest house if you decided to either add on to, or build new, in excess of the present main house square footage of 4,974 sq.ft.
      By the way, the maximum allowable square footage of an “accessory structure” in the 2-acre zone is 1.200 square feet. So does that mean the Town lets you do 7,840 for the main structure AND 1,200 for the guest house? I think yes.

      • Thanks! So this setup is going no where for sure.

        Although, starting from theoretical scratch today, would someone be able to build a 1,200sf accessory structure that would be rentable? Yes on a guest/pool house idea, but I thought there was inherent discrimination in our zoning code against something with a full kitchen that could be rented.

      • D:
        No, no, “going nowhere” is not a fair statement about this property, and in fact, I’m showing it to a client this week.
        But what about “rentable” cottages? Truth is, there are so many non-conforming, grandfathered cottages in this town, I’m not actually sure if the autocrats in the building department deign to allow a citizen to build a new one! I’ll take a look at the regulations and report later.

  4. I saw this house a couple of years ago and liked nothing about it. Not the layout of the main house (I recollect an odd array of rooms upstairs, having to walk through one to get to another?) nor did I like the cottage, especially its traffic sharing the main house driveway. I did love the location so if I were to buy it, I’d tear down both the main and carriage house and build one new nice house farther back from the road. It means relocating the pool too, putting it back about where the cottage is. Long story short, IMHO, it ain’t gonna happen. It’s too much effort and money to buy and then tear and rebuild.

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