15 North Crossway: Valuation Watch

I'll watch this property to determine what has happened with property values in prime Old Greenwich waterfront locations.

The property was bought new in May 2004 for $3,925,000 and listed for sale today at $7,195,000 or 83% above last sale. At 5,334 sqft, according to the list sheet, the property sold at $736/sqft while the current ask is $1,349/sqft.

ht: forwhatitsworth for 2004 photo.

6 Irvine Sells for $1.14ml OR 3 years waiting and a 33% price reduction

I saw this sale notice on the MLS this morning and wondered if the wait was worth it for the owner. This shore colonial, that's what the list agent calls it, came on the market June 15, 2006. After nearly 3 years and 4 price reductions, from $1.699mln to a last list of $1.347mln, the property closed today at $1,143,500.

And talk about commitment, the owner stayed with the same agent over the whole period! I'm sure both parties are glad to move on.

Approaching 1999 Prices: 7 Gisborne Place

This sale caught my attention today; it closed closer to its sale in 1999 than to anything more recent.

The history is that the property sold in April 1999 for $1.81mln. It was then significantly renovated in 2006 and sold in Jan 2007 for $2.86mln. It went to contract in the end of Feb '09 and closed yesterday at $2.2mln.

It looks like a relo company took position of the property since the 2007 sale, but sheesh and in Old Greenwich too!