Friday, March 11, 2011

Wednesday, June 23, 2010

18 Bowman Drive Update - Sells at $1.41ml

Back on June 16, 2009 I posted the note "18 Bowman Drive: Another Market Opportunity". The former owner contacted me and reminded me what a decent house this was.

As an update, the property sold for $1.41ml on March 26, 2010.

As I mentioned in my earlier note, this was new construction (in '07), with over 5k sqft per builder (4,291sqft per tax card) with +/- 1.39 acres usable land on back lot, but impacted by water tower and cemetery. The property can become a good home for someone. Plus for anyone driving into Westchester or the City, the location is great. It is less than 1 mile to the Merritt / Hutchinson Pkwy.

Sunday, February 7, 2010

Greenwich Residential Market Review: Unit Volume 2000 - 2009

The pinch, or returning to a more stable, well functioning real estate market.

I like the pinch!

Wednesday, July 1, 2009

A Glance: Single Family and Market Unit Volume Analysis, Half Year and 2Q

Good news: properties sold and to contract in Q2 (April 1 - June 30) are not falling as fast as they have been since the start of the market correction.

Bad news: there was a significant and rapid increase in inventory in the second quarter of 2009 just as sales began to pick-up, or at least not fall as rapidly as they had since 2007.

Click on a chart to enlarge

Data source: Greenwich Multiple Listing Service

Tuesday, June 30, 2009

Take My Breath Away - 9 Sales and 3 Contracts

It may not seem like much, but the sales volume reported today nearly matches the monthly sales in each of December, January and February, which were 13, 9, and 10 respectively. Its been a long time since we've seen this amount of sales in one day.

After that moment of surprise, I looked at single family inventory that has come on the market since the beginning of the year and what has happened to it (see tables below). I'm trying to get some insight into the inventory build-up. The abundance and increasing amount of inventory combined with the sparse sale and contract volume indicates a deteriorating market and I would think continued price depreciation across the board. I'll look at the half year data in more detail over the next weeks and post accordingly.

Note: Data below the "Brought to Market" numbers relate specifically to sales, contracts, withdrawn, etc. of single family properties listed on or after January 1 or April 1 as the case may be.

Sunday, June 28, 2009

Glenville T-Mobile Cell Towers

Here's a public service announcement related to the proposed new cell towers in Glenville from a District 9 RTM and Pemberwick/Glenville Neighborhood Association member, and one who diligently works to mobilize the Western side of town to participate in public affairs.


My apologies for failing to include in the news blast yesterday the clearly understood concern about the T-Mobile proposal to install a "Cell Tower" (actually 2 antennas) in a potentially dangerous location in Glenville.

Glenville School PTA co-presidents Donna Curtis and Gina Furano have a good job of informing all residents of the concern that this installation is much too close to Glenville School. And Schools PTA Council President, Glenville resident Sue Rodgers has led the global charge against cellphone transmission installations in close proximity to any schools.

The point of this message is the same as for other concerns - Public input can make difference. Our citizen-based Town government provides opportunity for the public to be heard, and in fact, to guide decisions. Reportedly, the last two P&Z hearings on the Cell Town proposed near No. Mianus School produced SRO crowds, and the P&Z voted unanimously to recommend another location be sought for that one.

Unlike the No. Mianus proposal, the Glenville installation can actually be killed by a P&Z decision. However, P&Z has an obligation to consider the proposal fairly, so it is critical that they are faced again by a packed house. The public hearing is on the P&Z agenda for Tues. July 7, beginning at 7 pm.

Please attend if you can, and if you can't I will record email comments and pass them on to the P&Z.

[text removed by editor]

Pasted below for convenience is the "calendar" (including one date correction) for PGA Citizen input.

Great day :)


Glenville T-Mobile installation - P&Z Public Hearing, Tues. July 7, 7 pm - Town Hall Meeting Room

Variances for CVS/Bank/Office at Holly Hill Hole - PZBA Public Hearing, Weds. July 8, 8 pm - Town Hall Cone Room

Sale of Town land parcel along Holly Hill Hole - Board of Selectmen, Thurs. July 9, 10 am - Town Hall Meeting Room

Thursday, June 25, 2009

Sneak Peak at Lolita Restaurant, Byram

Here are some pictures of the soon to be opened Lolita, Cocina & Tequila Bar in Byram. This is one of the CB5 restaurant group's ventures; they run Baang Cafe locally. Jody Pennette, the group's chief executive, says it will be a trendy Mexican restaurant. I hope they manage to provide good food and value as well. We'll see.

The restaurant is in the space formerly occupied by That Little Italian Restaurant; its a good space with an offstreet brick patio. The painter I bumped into while taking these pictures said Lolita may open within a week.

Entry and dining area

Tequila Bar

Facade & Street View
It looks like the corridor from the corner of North Main and Mill Street in Port Chester along Delavan Avenue, Byram is becoming food alley: The Kneaded Bread, Mario Batali and Joe Bastianich's trattoria down the street at the Tarry Lodge and now Lolita.

I think the improvement of services along this corridor will help real estate values in Byram as the gentrification process continues.