Westport property transfers as reported by the Town Clerk’s office for the period Feb. 20 - 24, 2012:
Gregory S. and Susan Canale Shorten to Manoj and Sangita Wadhwani, 4 Medwell Lane, $1,260,000
Helen Reichert Est. to Cottage Lane LLC, 4 Lehn Farm Road, 50% Interest, $250,000
Lynn Woolf to Cottage Lane LLC, 4 Lehn Farm Road, 50% Interest, $250,000
Shiva K. Natarajan to Alexander L. Kuhner, 8 Quarter Mile Road, $695,000
Purple Feet Wine and Spirits, formerly located at 1080 Post Road East, in the shopping center anchored by Barnes & Noble, since 1976 will reopen at Playhouse Square on Saturday, according to Nick Rossi, the new owner of the long time Westport establishment. Rossi said that he acquired the Purple Feet business from Marco Crettol who operated Purple Feet in Westport for 34 years. He said the Playhouse Square location will have about 1,880 square feet compared to the 1,500 square feet in its former location. The Playhouse Square site was formerly the space occupied by the Curtain Exchange. (CLICK TO ENLARGE) Dave Matlow for WestportNow.com
An application for a permit to demolish the house at Westport’s 7 Sprucewood Lane, off Long Lots Road near the Fairfield Hunt Club, is in process. Built in 1957, the two-story colonial has 2,956 square feet and is situated on a one-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
Two Westport office buildings have changed hands in the past week, one for $9 million and one for $8.5 million in another sign of an up tick in the commercial real estate market.
The 35-year-old building at 500 Post Road East, former home of Terex Corp. across from Westport Fire Headquarters, was purchased for $9 million by Stamford-based Fred F. French Investing LLC from Lemle Westport LLC, according to the Town Clerk’s Office.
Lemle Westport LLC purchased the 38,000-square foot building in 2005 for $11.575 million, according to the Tax Assessor’s database. Terex moved its headquarters to the Nyala Farms office complex in 2006. (See WestportNow July 25, 2006)
The other sale involved 55 Post Road West which was sold by 55 Post Road West LLC to Homeclear PRW Ventures, LLC for $8.5 million. The three-story, 34,325-square foot structure built in 1971 was purchased by 55 Post Road West LLC in 2006 for $6 million, according to town records.
An application for a permit to demolish the house at Westport’s 8 Lowlyn Road, between Partrick Road and Crawford Road, is in process. Built in 1952, the two-story contemporary has 2,575 square feet and is situated on a 1.17-acre property. Because the house was built more than 50 years ago, the application will be reviewed by the Westport Historic District Commissione. (CLICK TO ENLARGE) Dave Matlow for WestportNow.com
By Judy Szablak
Westport’s condominium market is struggling. Unusually low activity over the past few months signals an uncertain year ahead for this segment of the market. It possibly may be the worst year for condo sales in over a decade.
Prices are currently at 2001 levels. Sales peaked in 2007 with 41 units sold, and they had an average purchase price of $768,676. While last year looked promising for volume with 35 sales reported through our MLS system, the average sale price was just $507,742. There have only been three closed sales this year.
The lack of sales is most likely due to the selection of single-family homes that are available in comparable price ranges. These seem to be preferred among today’s buyers.
There also is certainly a lack of available inventory to choose from, and that also contributes to lackluster sales performance. Buyers are out this year and are still considering condominiums. But they need a compelling reason to purchase a condo rather than a single family house.
An application for a permit to demolish the house at Westport’s 100 Coleytown Road, off Easton Road, is in process. Built in 1935, the 1 1/2-story cape has 3,166 square feet and is situated on a 1.3-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
An application for a permit to demolish the house at Westport’s 5 Twin Circle Drive, off North Avenue, is in process. Built in 1953, the one-story split level has 1,702 square feet and is situated on a one-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
The house at Westport’s 20 Compo Road South was demolished today. It was on a 1.55-acre parcel adjoining the town-owned Baron’s South which was purchased by Fairfield County Bank for $5.8 million in 2008 where it has built a bank branch. (See WestportNow April 15, 2008) Built in 1870 with an addition in 1932, the 19th century Tudor revival, referred to as the Winslow-Staples House and later as the Egan House, has 5,722 square feet. “The parcel was developed as early as 1867 by the Winslow family who owned the elaborate Italianate estate across the street,” according to the Historic District Commission. “In 1899, the property with buildings was purchased by William Staples, a son of Horace Staples, and his wife Mary, and used as their residence.” It was the WestportNow Teardown of the Day on Aug. 20, 2011. (CLICK TO ENLARGE) Dave Matlow for WestportNow.com
The house at Westport’s 22 Coleytown Road, adjacent to Temple Israel, was demolished today. Built in 1947, the two-story conventional house had 4,095 square feet, was situated on a 2.90-acre property and changed ownership in January for $750,000. It was the WestportNow Teardown of the Day on Dec. 17, 2011. (CLICK TO ENLARGE) Dave Matlow for WestportNow.com
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