Parsonage Road
Marie Bates (Sally O’Brien & Associates) has a new listing at 44 Parsonage Road that is just about perfect. Built in 1930 and renovated and added onto in 1992, the home sits on an acre and a half in the RA-1 zone, with conservation land behind it. Set back from the road on a long, beautiful lawn, the house has a nine-foot, beamed-ceilinged living room, four bedrooms, three baths, a very nice eat-in kitchen and, in addition to studies, libraries and the like, a separate office with a guest bedroom and nicely appointed bath. 3,685 square feet, three-car garage, close to town on a good street, and very intelligently priced at $2,995,000. I’m guessing it will have gone to contract by the time you read this but if not, and you’re looking for something in this price range, go for it.
Market Activity
A friend of mine in town who works as a paralegal tells me that she has (in the paralegal’s world view, their lawyers work for them and not the other way around) forty-five closings scheduled for August. Those are house sales and purchases, not refinances, and this is just one relatively small law office. A recent article in the Greenwich Time commented on the sluggish spring market but mentioned “anecdotal evidence” that the market has bounced to life over the summer. This is more such evidence. Of course, all these closings reflect contract activity sixty to ninety days ago; focusing solely on actual recorded sales while neglecting to review contract activity can give you a dated, inaccurate view of current market conditions. I’ve been watching both and that’s why I’ve been bullish on the Greenwich market for some time now.
A Newcomer’s Guide to Greenwich
So you’re all settled in, the movers have pulled away and your kids have (temporarily anyway) stopped blaming you for ruining their lives. First question on your mind, naturally, is “where can I get the best bacon and egg sandwich in town and a bicycle on which to eat it?” (No? Where are your priorities, man?) Answer is easy: first stop is Dave’s Cycle on Valley Road in Cos Cob. Run by Glenn and Danny since they bought it years ago from the original Dave, everyone in the shop is personable, knowledgeable and competent. (Glenn also runs an evening winter-time course on bicycle maintenance via Greenwich Continuing education that’s that you might want to check out.) Once on the saddle, pedal over to Jimmy Bairaktaris’s van parked in the northwest corner of the Town Hall parking lot for the best priced ($1.75, without the cheezewizz stuff), best tasting sandwich in town. Not surprisingly, Mr. Bairaktaris offers terrific souvlakis for lunch but his bacon and egg creation is tops.
Quote of the Week
Courtesy of Rick Muskas, Greenwich Bank & Trust, who finances builders of all types of homes, including modular: “My new car was built in a factory in Germany and shipped to Greenwich without one loose nut, bolt, hose or clamp. It did not cheapen the neighborhood when it was delivered and I have trouble convincing myself that it would be a better car had it been assembled on my front yard.”
King Merrit
One of the best values in real estate, I believe, lies in the King Merrit development located, by coincidence no doubt, between King Street and the Merrit Parkway on the western edge of town. This a really nice network of streets and homes set on one acre lots. Some of the homes have noise exposure from the Parkway; most do not. The development went up in the mid-50’s, when land was obviously cheaper, and wends its way around streets such as Hettiefred, Bowman Drive, Stonehedge and the like. A small house at 34 Hettiefred sold for $495,000 back in 1998 but that, sorrowfully, is ancient history. The cheapest sale I could find for this year was 8 Mansion Place, listed for $899,000 and selling for $1,155,000 (!). That’s what happens when you have one acre lots, I guess. Still, there are a number of non-renovated homes in the area that might go for, perhaps, $750,000-$850,000 if they come on the market at all. Renovated or new homes in the area are selling for $1,650,000-$1,750,000 right now, with further increases in sight. The area seems especially appealing to Westchester County residents who can move across the border, cut their taxes in half and live on a full acre without leaving their old friends and family too far behind. A good neighborhood, and one that is often over-looked by home buyers.
Marie Bates (Sally O’Brien & Associates) has a new listing at 44 Parsonage Road that is just about perfect. Built in 1930 and renovated and added onto in 1992, the home sits on an acre and a half in the RA-1 zone, with conservation land behind it. Set back from the road on a long, beautiful lawn, the house has a nine-foot, beamed-ceilinged living room, four bedrooms, three baths, a very nice eat-in kitchen and, in addition to studies, libraries and the like, a separate office with a guest bedroom and nicely appointed bath. 3,685 square feet, three-car garage, close to town on a good street, and very intelligently priced at $2,995,000. I’m guessing it will have gone to contract by the time you read this but if not, and you’re looking for something in this price range, go for it.
Market Activity
A friend of mine in town who works as a paralegal tells me that she has (in the paralegal’s world view, their lawyers work for them and not the other way around) forty-five closings scheduled for August. Those are house sales and purchases, not refinances, and this is just one relatively small law office. A recent article in the Greenwich Time commented on the sluggish spring market but mentioned “anecdotal evidence” that the market has bounced to life over the summer. This is more such evidence. Of course, all these closings reflect contract activity sixty to ninety days ago; focusing solely on actual recorded sales while neglecting to review contract activity can give you a dated, inaccurate view of current market conditions. I’ve been watching both and that’s why I’ve been bullish on the Greenwich market for some time now.
A Newcomer’s Guide to Greenwich
So you’re all settled in, the movers have pulled away and your kids have (temporarily anyway) stopped blaming you for ruining their lives. First question on your mind, naturally, is “where can I get the best bacon and egg sandwich in town and a bicycle on which to eat it?” (No? Where are your priorities, man?) Answer is easy: first stop is Dave’s Cycle on Valley Road in Cos Cob. Run by Glenn and Danny since they bought it years ago from the original Dave, everyone in the shop is personable, knowledgeable and competent. (Glenn also runs an evening winter-time course on bicycle maintenance via Greenwich Continuing education that’s that you might want to check out.) Once on the saddle, pedal over to Jimmy Bairaktaris’s van parked in the northwest corner of the Town Hall parking lot for the best priced ($1.75, without the cheezewizz stuff), best tasting sandwich in town. Not surprisingly, Mr. Bairaktaris offers terrific souvlakis for lunch but his bacon and egg creation is tops.
Quote of the Week
Courtesy of Rick Muskas, Greenwich Bank & Trust, who finances builders of all types of homes, including modular: “My new car was built in a factory in Germany and shipped to Greenwich without one loose nut, bolt, hose or clamp. It did not cheapen the neighborhood when it was delivered and I have trouble convincing myself that it would be a better car had it been assembled on my front yard.”
King Merrit
One of the best values in real estate, I believe, lies in the King Merrit development located, by coincidence no doubt, between King Street and the Merrit Parkway on the western edge of town. This a really nice network of streets and homes set on one acre lots. Some of the homes have noise exposure from the Parkway; most do not. The development went up in the mid-50’s, when land was obviously cheaper, and wends its way around streets such as Hettiefred, Bowman Drive, Stonehedge and the like. A small house at 34 Hettiefred sold for $495,000 back in 1998 but that, sorrowfully, is ancient history. The cheapest sale I could find for this year was 8 Mansion Place, listed for $899,000 and selling for $1,155,000 (!). That’s what happens when you have one acre lots, I guess. Still, there are a number of non-renovated homes in the area that might go for, perhaps, $750,000-$850,000 if they come on the market at all. Renovated or new homes in the area are selling for $1,650,000-$1,750,000 right now, with further increases in sight. The area seems especially appealing to Westchester County residents who can move across the border, cut their taxes in half and live on a full acre without leaving their old friends and family too far behind. A good neighborhood, and one that is often over-looked by home buyers.
posted by Chris Fountain at 10:26 AM
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