A Shining City Upon a Hill? Hardly

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Several readers have commented on the new construction at 232 Valley Road, Cos Cob. I'd figured that its asking price of $3 million would allow plenty of time — years, perhaps — to discuss it, but what the heck, why not start now? 

My first question, I suppose, is why would anyone blast such an inferior building lot out of ledge and then build on it? Just because you can do something doesn't necessarily mean that you should, and this project proves it. There's no yard, the precipitous driveway guarantees a treacherous climb in the winter, and certain death for the first child to attempt to ride his bicycle or skateboard down it.

There is no basement, and the first floor has room for a kitchen, dining room and living room, period: the bulk of living space is found on the second floor and in the attic. In short, this is no house for a family, yet the builder crammed in six bedrooms, six baths and two half-baths into its 6,000 sq. ft. Who's going to use all that?

This site might have made sense as a small weekend retreat for  NYC couple, perhaps, even if there's no possibility of a pool, but I know that I'd have a terrible time trying to pitch it to a family with kids, our more usual Greenwich buyers. In fact, I wouldn't try, but perhaps a better agent than I can perform that miracle. 

Let's give that agent a couple of years to work her magic. 

Not what I would describe as an elegant staircase, but others' taste may differ

Not what I would describe as an elegant staircase, but others' taste may differ

Vats of boiling oil to repel invaders?

Vats of boiling oil to repel invaders?

Nothing says elegance with a capital E than  a stunning bedroom like this

Nothing says elegance with a capital E than  a stunning bedroom like this

Unless, of course, it's an industrial attic

Unless, of course, it's an industrial attic

Usually, a celebrity's home commands no more than one owned by a plain ol' schlep

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And when it's the former home of a celebrity, even less. (One of) Tommy Hilfiger's homes, this one at 578 Riversville Road, hit the market today at $6.750 million, down quite a bit from the $7.8 the owner paid Mr. Hilfiger in 2005. The current listing notes that the property was "formerly owned by Tommy Hilfiger", but as the million-dollar discount evidences, that doesn't add value.

Two price cuts bring these homes below what the sellers paid for them

105 Shore Rd

105 Shore Rd

Nothing hugely significant, but still: 105 Shore Road, Old Greenwich, which sold new in 2016 for $4.825 million, was dropped today to $4.650. It's always tough to recoup one's cot after such brief ownership, of course.

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And 30 Club Road, Riverside. purchased for $6.450 in 2012, has been looking for a buyer for some time now, and today dropped again, to $5.995. Again, I wouldn't use these two houses to prove anything about the market, except to pint out that prices aren't increasing.