41 Meadow Wood Drive, Belle Haven, ask $9,000,000 (started at $29M seven years ago, by golly!)
Yes friends, it’s happened at last! Finally, finally, finally…a truly big sale (ask was $9,000,000) has occurred and it’s not on the water!
Wait..what? It is?? Oh, crap.
Truth is, I just wanted to use the word “hegemony” in a sentence, but of course this is waterfront, that’s all that’s selling in the $6M+ category. Will this situation ever change?
Greenwich Bored And Razed 
Congratulations on the sale of the mother of all taco bells.
No, we have another business cycle to run through and for the state of CT to file its bankruptcy before those with big $$ revisit the back country mansions w/o sea views.
Hegemony is a cool word indeed.
OneT:
Pronounced heh-JEM-eh-nee…who knew!
Mostly hedgie money buying these properties, right?
Dool:
Hmm…I guess so. A lot of hedge funds are no longer doing well, but obviously some continue to, so we still have a “reasonable” supply of high-end buyers.
Perchance a bubble?
Doo:
Ahh, the infamous “bubble” theory! I was just reading a Wall Street Journal article where the writer referred to a “thirty year bubble” in residential real estate. Not to offend you bubble-theorists, but honestly, isn’t it possible to describe the rise and fall of almost anything as “bubble like”? Oil, gold, pork-bellies, you name it, their values go up, then they come down. What, if anything, are we to do about it?
Sell waterfront,buy backcountry ?
More ticks,but less tax.
Dool:
Great Scott, that should be your campaign slogan!
41 Leeward just added to your waterfront hegemony. I wonder if that buyer walked from cedar cliff.
Somes:
Nope, buyer of Leeward (sailors pronounce it “Loo-ward”) have, I’m reliably informed, has a bunch of kids, so the Cedar Cliff waterfront property you refer to was not considered. By the way, you will note that 41 Leeward is not actual waterfront!
Alas, I was being cheeky referring to 41 Leeward as waterfront.
What do you think an acre in prime riverside R1 is worth? Curious because recent trades like 57 Gilliam, 25 Leeward, etc would suggest it’s 3.4-3.5 vs my guess would have been 3.0-3.25.
Sum 1:
Hmm…
first of all, neither of those two examples has closed yet. Second, it’s unproductive to try to nail down such a tight price range in this category. The value of a “prime” Riverside one-acre lot in the R-1 zone is determined by the street it’s on; Leeward, Carriglea, Dawn Harbor, etc., they’re all different, and their averages could vary by several hundred thousand bucks.
Fair enough. So what’s your wider range? 3.0-3.5?
Anon:
wul…(pondering)….sure, I guess. I am, shall we say, comfortable, with a valuation of “around $2M+” for Riverside Avenue lots, 1/2+ acres, south of Club Road. As one proceeds down Indian Head, or into the Willomere and Meadow Road areas, the price climbs. Does it climb as high as $3.5M for a good tear-down? I suppose there is an example or two, but that still sounds a bit high.
25 Leeward closed for 3.23. So shall we say an acre in R1 riverside is 3-3.25?
7 Carriglea may rid you of hegemony