Very nice waterfront location, and its price history is interesting:
The original 1920 house on the lot sold for $1.595 million in 1999. Those buyers renovated it and resold it in 2001 for $2.5. The buyers who paid that sum after the house had been on the market for just 16 days, seem to have gone insane, because they resisted it for $5.8 in 2006: they didn't get it.
So now someone has bout that "renovated" house (and it was in fact quite nice), torn it down, and built new.
Presumably, this later creation complies with our new flood zone regulations, which were possibly the cause for the original house being razed.
(UPDATE: Oops! Should have looked more carefully at the pictures. This is indeed what a FEMA/Greenwich Katie DeLuca waterfront now must look like. That's a big hike up those stairs to bring groceries and baby strollers in.