147 Byram Shore Road is new today, introduced to the market at $5.995 million. Very nice house, and Byram Shore Road has seen some huge sales, but that said, this isn't direct waterfront: shared access via path only, and New Lebanon School isn't Riverside. If you want to drive to NYC, the location is more convenient than Willowmere Circle, but otherwise, the western side of town isn't really close to anything.
It did sell—to these owners—for $5.375 back in 2005, and a lot of money and effort has been expended on further improvements, but a 2005 price isn't necessarily one that you should base a price opinion on.
But like Willowmere, the market decides these things, not listing agents, owners, and least of all, real estate bloggers.