I don’t think we’ve all properly appreciated what happened yesterday when Greenwich real estate history was made: The price of 499 Indian Field Road had its asking price reduced from $190,000,000 to $140,000,000, a FIFTY MILLION DOLLAR reduction in one fell swoop! The greatest one-day price reduction ever! Ask any broker what it’s like getting a damned fifty thousand dollar reduction from a seller and you’ll begin to understand the magnitude of this.
So, will it work? Are we now close to a likely selling price? Not sure. I do know it was smart to also start offering the place in pieces, main house with 31.23 acres at $80M, and the raw land of 20 acres for $55M.