Bigger Button Or Was It The Lot Next Door?

11 French Rd11 French Road - Greenwich CT
New Construction - 10K+ SF, List 9,395,000 - Closed Today @ 12,075,000

There was an additional 2 acre lot was offered at 3,750,000. Bigger buttons aside, the buyer may have purchased the additional 2 acres, since the land listing was cancelled. It does appear at first glance that it sold over list, since it was reported only on the residence listing.

The lot next door seems to be a strategy that is working. The builder buys 2 lots, builds a large house, relative to the lot size, on one lot, that forces the hand of the buyer to consider the other. Or they have to put up with the noise and dust of construction in their near future, as well as having the big unknown of who will be occupying the house so close theirs.

1 Martin Dale had a similar situation recently, albeit a lower price, and we don't yet know where this will close. This was reported separately, both for the new house @ 4,479,000 and the lot @ 2,295,000.


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