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Old 05-02-2022, 08:08 AM
 
Location: NYC/Boston/Fairfield CT
1,853 posts, read 1,954,961 times
Reputation: 1624

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Speaking of Westport

$699k in Westport -- in Saugatuck no less, with an In-Law unit. I have no affiliation with the seller, seller's agent but wanted to share.

https://www.zillow.com/homedetails/4...mpEG9Rz2ozaHVo

 
Old 05-02-2022, 08:36 AM
 
Location: Coastal Connecticut
21,749 posts, read 28,070,632 times
Reputation: 6710
Quote:
Originally Posted by New Englander View Post
Speaking of Westport

$699k in Westport -- in Saugatuck no less, with an In-Law unit. I have no affiliation with the seller, seller's agent but wanted to share.

https://www.zillow.com/homedetails/4...mpEG9Rz2ozaHVo
Will prob sell fast but that is practically on top of 95.
 
Old 05-02-2022, 11:21 AM
 
Location: NYC/Boston/Fairfield CT
1,853 posts, read 1,954,961 times
Reputation: 1624
Quote:
Originally Posted by Stylo View Post
Will prob sell fast but that is practically on top of 95.
It's at the intersection of Hogan and Robert, so I can't say how much the noise from 95 would be. I suspect that they may have priced it low to create interest or there are some costly repairs necessary.
 
Old 05-02-2022, 11:29 AM
 
Location: Connecticut
34,926 posts, read 56,924,455 times
Reputation: 11220
Holy cow! $58 million for the 82,000 square foot Kings Crossing shopping center??? That’s over $707 per square foot. The developer probably paid less than a third of that to build it. They bought the site for $8 million in 2003. Crazy. Jay

https://westfaironline.com/147471/fa...sells-for-58m/
 
Old 05-02-2022, 12:04 PM
 
Location: NYC/Boston/Fairfield CT
1,853 posts, read 1,954,961 times
Reputation: 1624
Quote:
Originally Posted by JayCT View Post
Holy cow! $58 million for the 82,000 square foot Kings Crossing shopping center??? That’s over $707 per square foot. The developer probably paid less than a third of that to build it. They bought the site for $8 million in 2003. Crazy. Jay

https://westfaironline.com/147471/fa...sells-for-58m/
Holy cow is right! I would've loved to understand their underwriting/strategy before this acquisition.

At this pace, real estate (both commercial and residential) will become the preserve of the well capitalized.
 
Old 05-02-2022, 12:32 PM
 
Location: Near the Coast SWCT
83,514 posts, read 75,277,900 times
Reputation: 16619
Quote:
Originally Posted by JayCT View Post
Holy cow! $58 million for the 82,000 square foot Kings Crossing shopping center??? That’s over $707 per square foot. The developer probably paid less than a third of that to build it. They bought the site for $8 million in 2003. Crazy. Jay

https://westfaironline.com/147471/fa...sells-for-58m/
wow! Wonder when all those big name anchor stores came into the picture. What stores were there in 2003 vs now
 
Old 05-02-2022, 12:54 PM
 
Location: USA
6,900 posts, read 3,738,611 times
Reputation: 3499
Quote:
Originally Posted by JayCT View Post
Holy cow! $58 million for the 82,000 square foot Kings Crossing shopping center??? That’s over $707 per square foot. The developer probably paid less than a third of that to build it. They bought the site for $8 million in 2003. Crazy. Jay

https://westfaironline.com/147471/fa...sells-for-58m/
Insane. Just goes to show how much confidence investors are investing in CT's future. They know.
They see what a debacle NY is becoming and CT stands to only benefit from that.
 
Old 05-02-2022, 12:57 PM
 
Location: Connecticut
34,926 posts, read 56,924,455 times
Reputation: 11220
Quote:
Originally Posted by Cambium View Post
wow! Wonder when all those big name anchor stores came into the picture. What stores were there in 2003 vs now
There were no stores there. They built the center. Before that the site was Handy & Harman, a precious metal factory. The factory dated back to 1915. The site was cleaned up before they bought it and built the shopping center. Jay
 
Old 05-02-2022, 01:43 PM
 
Location: Coastal Connecticut
21,749 posts, read 28,070,632 times
Reputation: 6710
Quote:
Originally Posted by JayCT View Post
Holy cow! $58 million for the 82,000 square foot Kings Crossing shopping center??? That’s over $707 per square foot. The developer probably paid less than a third of that to build it. They bought the site for $8 million in 2003. Crazy. Jay

https://westfaironline.com/147471/fa...sells-for-58m/
That’s like this.

Purchased for $3 million in 90’s.

https://www.newhavenindependent.org/article/taft_sale
 
Old 05-02-2022, 01:53 PM
 
Location: Connecticut
34,926 posts, read 56,924,455 times
Reputation: 11220
Quote:
Originally Posted by Stylo View Post
That’s like this.

Purchased for $3 million in 90’s.

https://www.newhavenindependent.org/article/taft_sale
That’s also incredible. Jay
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