Long before the Greenwich MLS publishes reports of deals under contract, there is “scuttlebutt” among us brokers. Are you busy? Are you showing lots of stuff? What happened last weekend, how many people did you take out?
Until very recently, the usual answer was zip, zero, nada, but now, suddenly, I am getting reliable reports of genuine…dare I say it?…busy-ness among my compañeros (at various firms). And it’s not because of this warm weather, the deals I’m hearing about clearly started in the last two weeks.
Here are two very fresh examples: 6 Ford Lane, Old Greenwich waterfront, $7,500,000. 1986 house with some updating, land size .71 acres, which includes an adjacent vacant parcel of .29 acres. Part of the house is in the flood-zone (oh no!), but the first-floor’s at 20 feet, so gimmie a break… if that worries you, you need to undergo years of analysis. Anyway, perpetual market-worrier Archino puts this baby on Feb. 13th and had a done deal in SEVEN DAYS. Hot enough for ya?
8 Mayo Avenue* , Belle Haven section of Greenwich, but not in Belle Haven Association (oh no!), $2,695,000. Great old 1944 brick colonial, some updating, .57 acres, got a deal in about a week, three bidders!
By the way, that’s .57 acres in the R-1 zone, meaning a paltry FAR of just 3,352 square feet, but wait! FAR was further restricted by the adjacent right-of-way to a rear property. Total FAR, therefore, is a mere 2,780 sq.ft. Did the bidders give a hoot? They did not!
Market heating up. If you’ve been watching some place, waiting for the price to drop again, make your move now.
- For several years, financier Louis Bacon lived across the street from this one. I’ve always liked that combo, “bacon on mayo”, but no one else found it amusing (interestingly, Bacon moved to Rye, and sold his Mayo house to Mr. Lettice, I swear!)