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Real Estate

Real Estate

Tuesday, July 22, 2014

Comings & Goings: Garelick & Herbs to Saugatuck Center

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Garelick & Herbs, the upscale culinary market, will open soon at 580 Riverside Ave. in Westport’s Saugatuck Center, in space vacated last month by CM Gourmet Market after eight months. Co-owner Jason Garelick, who announced last year that his store at 1799 Post Road East was relocating to Southport (see WestportNow July 26, 2013), said he has always had an interest in having a store in the Saugatuck area. “We’re expanding our base because most of our customers in the Post Road East store live nearer to that end of town and including Fairfield customers,” he said. (CLICK TO ENLARGE) Dave Matlow for WestportNow.com

Posted 04:04 PM
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Real Estate Report: Some Bright Spots

By Judy Szablak

It’s no secret that that Westport’s real estate market is down from last year, however there are a few bright spots in an otherwise less than brisk sales atmosphere.

WestportNow.com Image
Featured Home:This home at 15 High Point Road is listed at $1.9 million. (CLICK TO ENLARGE) Photo courtesy of Coldwell Banker Westport-Riverside/KMS Partners

Our Multiple Listing Service identifies 11 separate neighborhoods (or areas) in town, and if we assume this data is correctly input into the system, which it generally is, then trending information on specific areas can easily be determined.

Only a few areas in town continue to be above the town’s average on a sales performance basis.

The Hunt Club area is the clear standout in town, with 29 homes available, 15 under some stage of deposit, and 49 sales within the last year. The average list price here is just over $2.04 million, which is $200,000 less than the town as a whole.

More "Real Estate Report: Some Bright Spots"

Posted 10:55 AM
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Monday, July 21, 2014

WestportNow Teardown of the Day: 1655 Post Road East

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Demolition of 33 mobile homes at 1655 Post Road East owned by the Westport Housing Authority is in process. Part of a $22 million makeover, they will be replaced with 54 new units. The existing 39 townhouse-style residences that were built in 2003 in the rear of Sasco Creek will remain. Completion of the redevelopment is projected for November 2015. (CLICK TO ENLARGE) Dave Matlow for WestportNow.com

Posted 02:04 PM
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Friday, July 18, 2014

WestportNow Teardown of the Day: 9 Moss Ledge Road

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An application for a permit to demolish the house at Westport’s 9 Moss Ledge Road, off Long Lots Road, is in process. Built in 1966, the two-story colonial has 3,543 square feet and is situated on a one-acre property. (CLICK TO ENLARGE) Dave Matlow for WestportNow.com

Posted 02:00 PM
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Westport Property Transfers June 30 - July 4, 2014

Westport property transfers as reported by the Town Clerk’s office for the period June 30 - July 4, 2014:

Jeffrey M. and Judith M. Killeen to Donald L. Miller and Michelle Bradley, 21 Woodside Lane, $935,000WNproperty.jpg

Louise A. Castillo Estate to Tianjin Litian America LLC, 42 Newtown Turnpike, $585,000

Jack G. and Carol W. Kovatch to Robie Livingstone Spector, 34 Sasco Creek Road, $1,200,000

Paul J. and Ellen Molter Jr. to Marc J. and Jill W. Isaacs, 21 Fairfield Ave., $1,403,500

More "Westport Property Transfers June 30 - July 4, 2014"

Posted 10:55 AM
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Wednesday, July 16, 2014

WestportNow Teardown of the Day: 6 Dover Road

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An application for a permit to demolish the house at Westport’s 6 Dover Road, off Reichert Circle, is in process. Built in 1953, the one-story split has 1,116 square feet and is situated on a .50-acre property. Because the house was built more than 50 years ago, the application will be reviewed by the Westport Historic District Commission. (CLICK TO ENLARGE) Dave Matlow for WestportNow.com

Posted 01:30 PM
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Friday, July 11, 2014

Westport Property Transfers June 23 - 27, 2014

Westport property transfers as reported by the Town Clerk’s office for the period June 23 - 27, 2014:

Paul Peter and Philip Gambaccini to Philip Gambaccini, 401 Harvest Commons, $360,000WNproperty.jpg

Jalal S. Naghib Trust to Peter and Lynn Nicklin, 15 Regents Park, $740,000

Charles E. and Arleen M. Breen to Bluewater Debra LLC, 11 Debra Lane, $1,215,000

Michael P. and Barbara S. Elsden to Heidi Trell, 2 Washington Ave., $1,601,000

More "Westport Property Transfers June 23 - 27, 2014"

Posted 10:22 AM
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Thursday, July 10, 2014

WestportNow Teardown of the Day: 7 Hillside Road

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An application for a permit to demolish the house at Westport’s 7 Hillside Road, off Hillspoint Road, is in process. Built in 1976, the two-story contemporary has 2,940 square feet, is situated on a .79-acre property and changed ownership in February for $2,007,000. (CLICK TO ENLARGE) Dave Matlow for WestportNow.com

Posted 02:32 PM
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Comings & Goings: Olivette to Railroad Place

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Olivette, featuring “a distinctive tasting room showcasing the freshest ultra-premium extra virgin olive oils and authentic all-natural balsamic vinegars,” has opened at 24 Railroad Place across from the westbound side of the Westport Metro-North station. Owned by South Norwalk residents Dee (l) and Alina Lawrence, the store is the second for the couple who currently operate Olivette at 1084 Post Road, Darien which opened in December 2011. Dee Lawrence said they chose this area of Westport “because we want to be part of and contribute to the Saugatuck neighborhood with all its culinary food options.”  An official opening will be held on Thursday, July 17 4-7 p.m.  In his spare time, the former lacrosse player at Yale, class of 1998, and a former natural gas broker, is a Westport P.A.L. lacrosse coach for seventh grade students. (CLICK TO ENLARGE) Dave Matlow for WestportNow.com

Posted 10:04 AM
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Tuesday, July 08, 2014

Real Estate Report: Open House for You?

By Judy Szablak

With more than 330 single family homes currently on the market in Westport, you can expect that fewer than 10 percent of them will be held open to the public on any given Sunday.

WestportNow.com Image
Featured Home: This home at 4 Manitou Road is listed at $5,250,000. (CLICK TO ENLARGE) Photo courtesy of William Pitt Sotheby’s/Westport Realty Group.

The topic of whether to hold a public open house can be a somewhat polarizing one between a home seller and agent. On one hand, it’s added exposure, but on the other hand, only a very small percentage of homes ever sell at an open house.

In other words, every home would be sold on a Sunday if open houses worked as well as some sellers think they do, and it simply does not happen that way.

Somewhere along the line, sellers have taken it to be fact that this long-standing tradition of luring buyers into the home would result in a sale. The truth of the matter is that buyers that walk through your open house will almost always purchase something else.

More "Real Estate Report: Open House for You?"

Posted 08:05 PM
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Monday, July 07, 2014

Westport Property Transfers June 16 - 20, 2014

Westport property transfers as reported by the Town Clerk’s office for the period June 16 - 20, 2014:

Tsai Hwa and Nai Hsin Lee to Fredrik M. and Amy J. Guster, 1 Buck Hill Road, $1,043,750WNproperty.jpg

Kathi M. and Jeffrey S. Arciola to 149-151 Compo Road South LLC, 149 - 151 Compo Road South, $750,000

David I Weiss to Kanglian Chen, 5 Crescent Park Road, $280,000

Alicia A. and Michael S. Babcock to Wayne Daniel and Stuart Gordon, 34 Stony Brook Road, $3,125,000

More "Westport Property Transfers June 16 - 20, 2014"

Posted 12:05 PM
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Thursday, July 03, 2014

Comings & Goings: Chic Jolie to Close on Main Steeet

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The women’s fashion apparel store, Chic Jolie, at Westport’s 57 Main St., on the second floor above Westport’s Blue Mercury 2, will close this summer. It opened at the current location in December 2013 (see WestportNow, Dec. 18, 2013) after formerly located at 24 Taylor Place for nine years —eight years as the children’s clothing store Jacadi. It closed in April 2013 and reopened in the Brickwalk, on Fairfield’s Post Road before returning to Westport six months ago. (CLICK TO ENLARGE) Dave Matlow for WestportNow.com

Posted 03:57 PM
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Wednesday, July 02, 2014

Real Estate Report: Summing Up 2014’s First Half

By Judy Szablak

The first half of the year is so similar to 2012’s first two quarters that it’s like deja vu for Westport’s real estate market. 

WestportNow.com Image
Featured Home: This home at 6 Sycamore Drive is listed at $3,250,000. (CLICK TO ENLARGE) Photo courtesy of William Raveis Westport / Jeanette Dryburgh & Associate

The first half of 2014 brought us 167 single family home sales as reported through our Multiple Listing system. The first half of 2012 brought us that same exact number in unit sales. That’s in sharp contrast to 2013, when Westport had 211 sales year-to-date.

The lack of inventory during the traditional buying season, due in part to a harsh winter, and then a late start by home sellers entering the marketplace appear to have contributed to a less than stellar year in unit sales thus far.

What may not be so readily apparent is that even though unit sales are down, prices are still on the rise. Removing the two sales last year on Beachside Avenue which accounted for $34.4 million dollars in volume rectifies the skewed statistics.

More "Real Estate Report: Summing Up 2014’s First Half"

Posted 10:32 PM
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Tuesday, July 01, 2014

Going Down: 63 Post Road West

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The house at Westport’s 63 Post Road West was demolished today. Built in 1930, the clapboard wood frame house had 1,317 square feet and was the WestportNow Teardown of the Day on Sept. 17, 2013.  According to the records of the recently appointed Westport Blight Prevention Board, this is the third house demolished in 2014 in accordance with the anti-blight ordinance. The houses at 71 Post Road West and 17 Wake Robin Road were demolished in April. (CLICK TO ENLARGE) Dave Matlow for WestportNow.com

Posted 03:01 PM
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Monday, June 30, 2014

BLT Confirms It Purchased Nyala Farms Complex for $130 Million

Stamford-based Building and Land Technology (BLT), a firm with close ties to Westport’s Bridgewater Associates hedge fund, today confirmed a WestportNow report Saturday that it is behind the $130 million purchase of the Nyala Farms Corporate Center in Westport. (See WestportNow June 28, 2014)

WestportNow.com Image
Sale of the 53-acre Nyala Farms Corporate Center was recorded just as Bridgewater Associates announced it was not moving to Stamford. File photo

As reported, the sale is the largest transaction in Westport’s history, and In a statement, the firm said it is the largest real estate transaction in Connecticut this year. Westport reaped $325,000 from the sale while the state got $1,625,000 in conveyance fees.

The sale, to a Stamford-based LLC sharing an address with BLT, was recorded in the Town Clerk’s Office as Bridgewater was announcing it had dropped its plans to move to Stamford where BLT was involved in developing a $750 million waterfront project to house the company. Bridgewater has a large presence in the Nyala Farms faciity, including a trading floor which has recently been renovated at a cost of millions, according to town officials.

Purchase of the 372,207-square foot office park on 53 acres in Westport was announced by Carl R. Kuehner III, CEO of BLT, a privately held real estate private equity, development and property management firm.

More "BLT Confirms It Purchased Nyala Farms Complex for $130 Million"

Posted 05:04 PM
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