85 Richmond Hill Road, which is somewhere between downtown Greenwich and the North Pole, has cut its price to $4.7 million. This house sold new in 2005 for $7.1 million, which back then I would have said was the dumbest price ever paid or even proposed in Greenwich, until it was put back on the market in 2007 at $8.9 million. 1,027 days later, in 2013, it found a buyer at $4.825.
That unlucky buyer has been trying to unload this 10,000 sq.ft. white elephant for a year now. He priced it at $5.250 then, and has refused to budge until today.
I keep hearing from clients and readers of this blog that I'm hated by other agents, but at least I don't let my clients overpay for houses that no one else will ever buy.
Let me hasten to add, just to keep the Greenwich Association of Realtors off my back, that this new price may be exactly the right number, and someone is going to find a bargain here.
But, just sayin'.