Oh No! More Good News For Greenwich Real Estate!

5 Old Round Hill Lane (a modest cottage, near the Round Hill store), sells for $10.375.

5 Old Round Hill Lane (a modest cottage, near the Round Hill store), sells for $10.375M.

I hate to upset the crybabies* out there who, for a variety of reasons, actually root for real estate’s collapse, but I have a professional responsibility to call ’em as I sees ’em…

5 Old Round Hill Lane has just sold for $10,375,000.  That is a GREAT price for the backcountry these days. The sellers paid $11,200,000 for it back in July, 2007, so $825,000 has gone by the wayside for them, but heck, they bought at possibly the exact moment of the top of the market. Getting most of that back ain’t bad (next time, buy in Riverside).

* you know who you are.

List:  Tamar Lurie

Sell:  Lee Fleischman

2 thoughts on “Oh No! More Good News For Greenwich Real Estate!

    • anon:
      I believe the phrase I used was “ain’t bad”, in regard to the seller’s loss. Anyway, it is nearly impossible to really know the exact amount any particular seller gained or lost. Those of us who study the market concern ourselves, therefore, with one thing, the comparison of selling prices, then vs. now. In this example, a 7.3% reduction (from $11.2M) ain’t bad, considering where we were 5 years ago.

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