Greenwich Time has a more complete story this morning on yesterday's foreclosure auction on Dwight Lane.
I'm glad, for the neighbors' sake, that someone is finally going to fix up this eyesore but I do wish the new owners good luck in renovating it. To my eye, the rotted siding, failed roof, windows, pool and tennis court, the obsolete electrical system and the obnoxious, all-pervasive stench of mildew would suggest that a bulldozer rather than a carpenter be brought on site, but the happy owner-wife has apparently had an architect review the dump and if he thinks it can be successfully restored, I bow to his superior knowledge.
One of my readers comments below that he thinks this property was a steal - I would only point out that, out of all the people in the world, only one person was willing to bid.
Update:
Here's the Tax Assessor's card on this property. Highlights include its "value" of $4,327,000 (someone's in for a tax reduction), the surprising (to me) revelation that it has 4 bedrooms and 7 1/2 baths, and, no surprise here, its condition is "below normal for age".
10-1975 LAUER MICHAEL DWIGHT LANE 0007 101
ADMINISTRATIVE INFORMATION
PARCEL NUMBER
10-1975
Parent Parcel Number
0
Property Address
DWIGHT LANE 0007
Neighborhood
180100
Property Class
101 Single Family
TAXING DISTRICT INFORMATION
Jurisdiction 57
Area 1
Corporation 57
District 10
Section & Plat 116
Routing Number 2310E0003
Site Description
Topography:
Public Utilities:
Water:
Sewer: N
Electricity: Y
Gas:
Cable:
Well:
Septic:
Other:
Shared Well:
Shared Septic:
Street or Road:
Neghborhood:
Zoning:
16 RA-4 Single Family 4 acre
Legal Acres:
5.1
OWNERSHIP
LAUER MICHAEL
7 DWIGHT LANE
GREENWICH, CT 6831
LOT NO 46 DWIGHT LA E3
CURRENT ASSESSMENT
Assessment Year 10/31/2005
Reason for Change 2005 Revised
VALUATION L 3027100
Market B 1300800
O 0
T 4327900
VALUATION L 2118970
70% Assessed/Use B 910560
O 0
T 3029530
PREVIOUS ASSESSMENTS
Assessment Year 10/1/2005 10/1/2001 10/1/2001
Reason for Change 2005 Reval 2001 Final 2001 Reval
VALUATION L 3027100 2030800 2030800
Market B 2734400 2067100 2012000
O 0 0 0
T 5761500 4097900 4042800
VALUATION L 2118970 1421560 1421560
70% Assessed/Use B 1914080 1446970 1408400
O 0 0 0
T 4033050 2868530 2829960
Dwelling # 1
PHYSICAL CHARACTERISTICS
Style: Contemporary
Year Built: 1986
Occupancy: Single family
Story Height: 2
Construction Type: Wood Frame
Finished Area: 7653
Attic: None
Basement: 3/4 Bsmt, 1/4 Crawl
EXTERIOR
Covering: Wood siding 99%
%
Condition: below normal for age
ROOFING
Material: Asphalt shingles
INTERIOR ACCOMODATIONS
Finished Rooms: 14
Bedrooms: 4
Half Baths: 1
3 Fixture Full Baths: 5
4 Fixture Full Baths: 1
5 Fixture Full Baths: 1
HEATING AND AIR CONDITIONING
Heating Type: Forced hot air-oil
Air Conditioning; Y
OTHER
Retaining Wall
Res Pool In Ground
Res Tennis Court
FSP
1 year ago
Posts
2 comments:
You know, it doesn't seem like a bad purchase to me. The guy is retired; he's probably not planning on moving again unless it's feet first out the front door.
He and his wife will have a project, cleaning up the grounds and overseeing a renovation.
1980s contemporaries are a tough sell in this town even in top condition; in 10 years, it will be a teardown anyway, no matter what the new owner does to spiff up the place.
In the meantime, he will have a pool and court for his grandkids, and enjoy a quiet backcountry retirement.
After all, isn't that what houses are for, as you point out often? I don't know where else in Greenwich he could have that on five quiet acres for $2.5 million.
By that definition, he hasn't made a bad investment at all.
I don't necessarily disagree. Anyone who can amass that kind of money probably knows what he wants and what he can afford, so more power to him. I do have reservations about sinking much money into this dated contemporary and before he and his grandkids can enjoy that pool, tennis court and the house itself, he's going to be spending a lot of time with his banker.
But what the heck, ....
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