Buyers eye new-construction options
Buyers settling into or moving about Greenwich have had to take into consideration how their lives may play out in the coming months and year ahead, and what many have decided is that they value space - indoors and outside - at-home amenities and places within the home to tuck away and work. These buying preferences have manifested in homes recently rented and sold across Greenwich, and it’s with these trends in mind that developers are unveiling new-construction options.
“The paradigm shift is away from the traditional colonial to the modern - in this case, modern farmhouse,” Mary Ann Heaven said of her listing at 22 Angus Lane. The Douglas Elliman Realtor is currently representing the seller of the $6.25 million newly constructed home that she’s branded “Three Gables.”
“It’s a fusion of traditional and modern design elements,” Heaven described the interiors. “You get some traditional feel, but you also get that open, clean feeling, with oversized windows that extend from floor to ceiling. … These are the biggest shifts we’re seeing, and that really appeals to New York City purchasers - especially millennials. … It has a little over 8,000 square feet, which we think is a sweet spot today.”
Some of the other standout qualities of this newly constructed home, according to Heaven, are the first-floor family room, conveniently positioned near the kitchen, and “a true luxurious master suite,” the Realtor noted. Double doors open to the suite, comprising a large bedroom, a sitting room and walk-in closets. “It’s essentially a whole wing of the house on the second floor.”
The location is also compelling.
“This property is extremely convenient - literally, a couple of minutes to Greenwich Avenue, to the train, and certainly to all the schools,” Heaven said. “It’s a beautiful location, but the other that will catch your attention is what I call ‘the walk-the-dog, push-the-buggy neighborhood.’ This is a cul-de-sac street in a private in-town association, and fantastic if you want to run or walk or have the kids be able to ride their bikes.”
The appeal of a brand-new home is enduring, and there is a segment of buyers who won’t consider anything else.
“New construction, as we know, has been going for a premium,” Heaven said. One of the reasons for that market trend has to do with buyers appreciating a low- or no-maintenance residence.
“When you buy new construction, you’re getting rid of uncertain capital expenditures associated with buying an older home,” she explained. “With mechanicals, for example, you’ll get the full lifespan of usage, which may be 15 to 20 years. … It takes the headaches and burdens away. That’s why new construction is in such demand.”
Real Estate Listings
Checking all the boxes for today’s buyers
Newly completed in 2020, 4 Ford Lane in Old Greenwich is a six-bedroom, seven-bath shingle-style colonial. The property is currently listed for $4.695 million, after a price reduction in early October. Dena Zarra, a Realtor with Berkshire Hathaway Home Services, is the listing agent.
“This home checks all of the boxes,” Zarra said. “4 Ford Lane has a home office with built-ins, as well as plenty of other spaces on the lower or third floor - with calming water views - to use as a second office. There are Nano folding doors that open and incorporate your indoor space with the outdoors. With two pool sites, someone can surely design the pool and outdoor living area of their dreams.”
Zarra pointed to the open floor plan, a showstopping glass staircase, and the gourmet kitchen - equipped with appliance by Wolf and Sub-Zero.
4 Ford Lane is part of the private Ford Lane Association, which affords the homeowners some coveted local amenities, including beach access and a kayak launch.