Is the bloom off the rose?
In March 2005 my brother Gideon’s listing, asking price of $1,199,000, sold in a bidding war for $1,305,000. The builder/buyer tore it down and cleared the lot, then changed his mind and put it back on the market for $1,395,000. It finally sold last week for $1,215,000, or $90,000 than was originally paid. One transaction does not make a trend, of course, but I do notice builders getting more cautious with what they’ll pay.

Calling all hedge fund managers!
Joe Barberi has just listed an incredible old mansion on 77 acres of land for $39,000,000. Out of respect for their privacy, I never disclose sellers’ identities in this column, but it’s safe to assume that the owner is one of our town’s more noted celebrities. This place has everything, including a dungeon. Built in 1926, it was a bit shopworn when the current owner bought it in 1994. He’s brought it back to its original condition and wisely left it at that. The grounds are spectacular, with room, far away, for donkeys and even a flock of chickens but the best feature is the great hall which, with its soaring (40’) vaulted ceiling and stained glass windows gives real meaning to the term, “cathedral ceiling”. 17th Century English paneling abounds, as do fireplaces, including a walk-in fireplace in the great hall with a 6’ claymore sword hanging above the mantle (you’ve probably seen the sword before). The only scary thing about all this is that the listing information includes a copy of a four-lot subdivision plan. I’m a little short of funds this week so cannot personally save one of the last of the “Great Estates” but surely someone on Wall Street has a bit of spare change; I hope so, anyway.

New Construction
Not every teardown need be mourned, especially if the house is replaced by something far nicer. In my entirely subjective opinion, two new homes illustrate this: Mark Van Hoesen ‘s project at 27 Grove Street, in Cos Cob, and Mark O’Brien’s at 9 Binney Lane in Old Greenwich. 27 Grove is a great house on a quiet street in a close-knit, friendly neighborhood. It backs up to a town park, has five bedrooms, is very well built and is priced at $1,999,000 – I think it’s the best value in this price range that I’ve seen in a long time. Mark O’Brien also builds a great house and I think his new one on Binney is his best effort yet. A terrific limestone entrance opens to a five bedroom, airy house with what the trade refers to as “good flow”. Top quality construction, to this eye, with Mark’s usual quirky taste showing up in unexpected places: his choice of color for the onyx flooring in the mudroom, for instance, certainly caught my attention but I finally decided that I liked it. One of the things I admire about Mark is that he’s not afraid to depart from the plain vanilla, build it to sell philosophy that most builders have. I don’t mean to imply that this house is some kind of weird creation, it isn’t; it’s beautiful. The house he built next door sold last month in a bidding war and I wouldn’t be surprised if this one did, too. $4,900,000, asking.

John Bird, R.I.P.
I was sorry to see that my old principal, John Bird has died at 80. Mr. Bird was principal at Eastern when I was causing trouble there and moved to the High School just in time for me to continue to plague him. He was a kind, wise, teacher who even tolerated our shutting down the school during the Kent State protests in 1970 (I don’t remember the date but my pal Mike Horton does and sends me a reminder note each anniversary – May?). His assistant (and my House Master), Doug Mertz, told me in 1971, after he’d miraculously shepherded me to graduation, “Fountain, you’ve done what no other student could do: you’ve driven me out of education - I’m moving to Idaho to grow cherries on my father-in-law’s farm.” I always thought I did Mertz a favor but Mr. Bird was made of sterner stuff and stayed at the school long after I left. Those were turbulent times and I admired Mr. Bird for dealing with us rowdies in a firm but fair manner and allowing us to at least pretend to be intelligent young adults. Great guy.