North Street price cut

51 North Street, one of those beautiful old Federals that greet travelers arriving at the northern entrance to downtown Greenwich, has been cut from $2.850 million to $2.5. My guess is that this 1855 home poses an expensive challenge to bring it up to date, but comparable sales of renovated versions of this house would justify the cost, so perhaps its failure to appeal to buyers lies in the fact that it’s not in “move-in condition”. I’d be delighted to move into it as is, but I’m not part of the current buyer pool, the members of which, for the most part, are not looking for a project.

And to be fair, having purchased and restored an 1835 Maine farmhouse when Nancy and I were young and foolish, and then, later, Granny’s old house in Riverside, I can perfectly understand that reluctance; it’s something best done before the arrival of children.

oh, the horror: formica!