As of July 1, Westport’s office vacancy rate was 11 percent, down from 15.2 percent a year ago and the lowest it has been since 2002, Ted Hampe, chairman of HK Group, a Westport commercial Realtor, said today.

The Westport Office leasing market has made substantial progress in the last year, particularly since Jan. 1, said Hampe.

“The leasing of a vacant 36,000-square-foot building at 55 Post Road West plus numerous smaller leases have been responsible for this result, and the outlook for the balance of 2005 is favorable,” he said.

HK Group tracks 172 office buildings with square footage totaling 2,620,000 out of which only 289,000 square feet were vacant on July 1. An additional 30,000 square feet was being offered for sublease or future direct lease, Hampe said, which reflects planned tenant moves.

Property transfers as reported by the Westport Town Clerk’s office for the period June 27-July 1, 2005:

Patrick A. and Kristen W. McDonald to Tryton 31 Cross Highway LLC, 31 Cross Highway, $815,000

Paul C. and Alicia M. Zec to Karin Burgher, 16 Ostend Ave., $1,500,000

Dany Lee Lennon- and Tyree Montague to Todd and Hilary Reichhelm, 7 Cross Brook Lane , $1,250,000

Patricia Giannuzzi to Xenofon and Maria Tziolis, 35 Burnham Hill, $1,600,000

Daniel W. and Susan M. Oehlsen to Geoffrey R. and Deborah S. Erickson, 19 Hitchcock Road, $1,025,000

Property transfers as reported by the Westport Town Clerk’s office for the period June 20-24, 2005:

Vincent R. and Sandra M. Galasso to Davi W. Kane, 12 Sachem Trail, $785,000

William L. Novotny to Daniel R. Goldemen and Alice Ann Potts, 12 Edge Hill Lane, $861,500

John and Stella Seo to Michael J. Seo and Jane Y. Lee, 1 Diamond Hill Lane, $1,550,000

Ray L. Meyerson to 15 Rices Lane LLC, 15 Rices Lane, $950,000

Richard and Georgia Kornutik to John and Young A. Cho Seo, 69 Bayberry Lane, $4,050,000

By Dave Matlow

Westport’s skyrocketing land costs are making even home renovators consider the wrecking ball. Take John Dumke, for example.

Since he moved to Westport in 2000 following a career writing and producing corporate films, he has been a Bob Vila of sorts, purchasing, restoring and reselling homes in town for profit.
Westporter John Dumke photographs the demolishing of a home at 56 Compo Road North Wednesday. He purchased the property in April for $1 million. It was WestportNow’s teardown of the day March 24, 2005.  (CLICK TO ENLARGE) Dave Matlow for WestportNow.com

But Dumke’s latest home purchased for resale—56 Compo Road North—did not have the same good fortune. Purchased in April for $1 million, the house was demolished Wednesday and Dumke said he plans to build another much larger one.

“When a Westport lot cost what it does cost today, it doesn’t make economic sense to build around the existing facility,” he said. “Today it’s a lot tougher. Now it makes more sense to just tear it down and start ove

Property transfers as reported by the Westport Town Clerk’s office for the period June 13-17, 2005

Carolynn J. Olsen to John A. and Catherine E. Rotondo, 2 Deletta Lane, $590,000

Melissa W. Hill to Alan and Josephine Kaye, 11 Oak View Circle, $420,000

Paul M. and Elaine D. Meyrial to James W. and Susan M. Westphal, 89 Cavalry Road, $1,495,000

Katherine G. Smith to Igor and Elena Krichevsky, 5 The Mews, $989,000

Meredith M. Johnson to Rhodie A. and David P. Lorenz, 1 Nutmeg Lane, $1,365,000

The house at 17 Ledgemoor Lane came down today hours after it was featured as WestportNow’s teardown of the day. Steve Phelps, the new owner of the property who is relocating to Westport from New York with his wife and three children, videotapes the scene. (CLICK TO ENLARGE) Dave Matlow for WestportNow.com

Today’s WestportNow teardown is 17 Ledgemoor Lane off of Whitney Street near Roseville Road. The property changed hands last month for $1,175,000. (CLICK TO ENLARGE) Dave Matlow for WestportNow.com

Property transfers as reported by the Westport Town Clerk’s office for the period June 6-10, 2005

John C. Kaeser to David and Amelia M. Lehman, 17 Fairfield Ave., $1,495,000

Jean Saldo to the Estate of Fred Niebur, Unit 12 Whitney Glen, $510,000

Cynthia A. Buffinton Revocable Trust to Geoffrey Hamlin and Kristen Peters, 21 Compo Parkway, $2,225,000

Allan B. Nielsen to Evelyn Foster, 116 Valley Road, $725,000