Greenwich (Old Greenwich, Cos Cob, Riverside) CONDO SALES
By Scott Elwell - 8.7.11 - Comments Off
I’ve received a lot of requests lately from clients interested in buying a condo in Greenwich (Old Greenwich, Cos Cob or Riverside). Not many people know that we have a great selection of condos here ranging from the multi-million dollar homes on the water to much more affordable condos in the $200k+ range. Here are some that have traded in the past month.
59 Le Grande Avenue #16 – $1,190,000 (SOLD)
This is a perfect empty nester house. All the space a couple would need with two extra bedrooms, high end finish and extremely close to town. Originally priced at $1.35M there was a lot of competition on that range, so a sales price of $1.19M makes sense.
51 Forest Avenue #82 – $480,000 (SOLD)
If you have a decent arm you could throw a tennis ball to the train station, which is a major perk when living in Old Greenwich and commuting into the city. This unit is an upgrade from a lot of the entry-level apartments one would find in the area with a decent level of space and an extra full bathroom. There is room to convert the den into a bedroom if one finds themselves with a guest.
40 Ettl Lane #18 – $875,000 (SOLD)
Listed at $925k 40 Ettl went into contract a month later. For $875k the buyer is getting a large amount of space very close to New York/Port Chester (train), while maintaining Greenwich Schools and taxes.
50 Lafayette Place #2B – $252,000 (SOLD)
Just up the street from Greenwich Avenue the buyer is getting a fantastic in-town location, which has always maintained solid demand. Generally the closer you get to Greenwich Avenue and then closest to the train station (or Mason street for the high end) the more valuable as we do have a ton of commuters going into the city.
140 Field Point Road #28 – $525,000 (SOLD)
140 FIeld Point Road is true walking distance to the trains station and Greenwich Avenue, which adds tons of value. Units in this area will rent and sell out immediately as continued demand to be close to the trains station sustains – regardless of the time of the year.
85 Putnam Park #85 – $565,000 (SOLD)
I’m a big fan of Putnam Park. For example (here) you can get a true 4 bedroom within walking distance of downtown Greenwich and the train station (depending on how much you like to walk) for under $600k. This is an opportunity many of my clients are not aware of. 85 Putnam Park is technically a co-op, so the new owner received 1,165 shares of the co-op when they closed. This is run much more like a Greenwich Condo and less like a New York City co-op.
318 West Lyon Farm – $747,000 (SOLD)
Taking a month to sell, here’s another quick trade. This unit in West Lyon Farm sits right on a pond. It has probably the best floor plan (“H”) and while it doesn’t have the most space, there is a ton of potential to make this into a great West Lyon home. We have seen 24 sales in Lyon Farm in the past 24 months ranging from $610,000 (#407 with 1,900 sqft on 7.7.11) to $1.4M (#517 with 3,519 sqft on 7.27.10) showing a fairly consistent drop. This development might be the best area for analytical review of Greenwich Real Estate right now as it has enough units to create a critical mass (sort of) with enough trades, yet it has been around for 30+ years and not much has changed. You are seeing a lot of empty-nesters move in here that don’t want the pain of taking care of full estates, while not wanting to leave their ties to Greenwich. Feel free to contact me if you want more date on East and West Lyon Farm as I have everything.
69 Richland Road #B – $725,000 (SOLD)
New construction that was rented out for a year (I believe). Another great opportunity to get into Greenwich for a great price. Technically a 2 bedroom, but has tons of space for guests with nearly 3,000 sqft of space. This Byram condo lives more like a house as you are in a residential area sharing a wall.
102 Valley Road #17 – $405,000 (SOLD)
Another unit that lives much like a house, while you share space with your neighbors you live in a fantastic residential neighborhood within Cos Cob. You won’t be walking to the train station or town, but you are very close to everything. Scott P. Elwell – MBAFounder/Real Estate Agent – GreenwichCT.comAl Filippone Associates @ William Raveis45 Field Point Road, Greenwich, CT 06830Mobile: firstname.lastname@example.org