Land (and a worthless house) at 17 Witherell Drive returned to the market today at $3.350 million; it failed to sell at $3.695 back in 2007. Hmmm...maybe.
It's on 2 acres, which is good, but if memory serves some of that's wetlands. It's also a rear lot, reachable over a dirt driveway, which is an expected feature in, say, Vermont, but not so common in Greenwich, even in rustic Rock Ridge. There' already town sewer there, municipal water "is available" and gas "may be possible" (I'm guessing not - the gas company hates adding single homes to its customer base, especially when they're removed from their neighbors).
I'd be tempted to pay up and grab the 2.8 acres down the street at 25 The Ridgeway, but unless that short sale falls through, this is, at least for now, the only game in Rock Ridge. Me, I'd pass; your results may be different.