Oak Street sale

28 Oak Street, over on the west side behind Old Post Road No.2, has sold for $2.8 million. That’s a lot of money, but not as much as was asked in 2017, when it began at $4.249. This seems another example of how, while the COVID panic has expanded our market, it hasn’t yet raised prices to any great extent.

These sellers paid $2.9 for the house in 2003 when it was constructed as part of a mini-development, and put some significant money into improvements. Figuring in 17-years of use, it’s not as though they’ve made out terribly, but if Greenwich real estate was ever the “investment” it was touted to be by some of my peers, those days are long gone (if they ever existed at all).