Condos close to town capture buyers’ interest
Though not as competitive as the single-family market, condos are quick to move this year
The pandemic inspired boon times for Greenwich real estate, especially for sellers. Singlefamily homes across Greenwich and across price ranges have been quickly scooped up by motivated buyers, sometimes in a matter of days, even hours, of their market debuts. The condominium market has been a little less assured, but this segment of the market is dynamic and busy, too.
Greenwich Time checked in with Realtor Dianne Orlando, who works from the Sound View Drive office of Houlihan Lawrence, to better understand the dynamics of Greenwich’s condominium market in recent months. Nearing the end of Q1 2021, the condo segment of the residential real estate market was “up 120% from last year,” Orlando reported.
Asked what condominium buyers are looking for this year—what they expect from a property, what ranks high on their wish lists—Orlando said that, generally, they look for “easy living, open floor plans, and office space.”
Orlando is currently representing the seller of 25 Woodland Drive, Unit B, Greenwich—a threebedroom, four-bath, 2,526-square-foot condo, close to Greenwich Avenue, with interiors the Realtor describes as “a perfect blend of modern farmhouse charm and sophisticated style.” The asking price is $2.195 million.
Based on buyers’ expectations today, Orlando said this particular property checks a lot of boxes. “The open floor plan is ideal for day-today living and easy entertaining,” she said. “Everyone is looking for at-home office space and a ‘Zoom room,’ and this condo has at least three options for office space, so everyone has their own place.”
“The location is ideal,” she added, “as it’s a three-minute walk to the Greenwich Avenue Starbucks and a few more steps to all of the restaurants and the MetroNorth railway station.”
Other condos for consideration
Berkshire Hathaway New England Properties’ executive direct of sales, Julianne C. Ward, listed the condo at 1465 East Putnam Avenue, Unit 625, Old Greenwich—part of The Common association. This particular home has one bedroom and one bath, with soaring vaulted ceilings inside and a private deck outside. The condo has been freshly painted and has a host of brand-new features, including new windows and a sliding door, new flooring, and new lighting, among other improvements.
“This home is completely renovated and close to Old Greenwich’s and Riverside’s shopping, train and schools,” Ward noted. “It is a bright and sunny home, with a loft that could be an office, workout room, or even a sleeping loft.”
Lisa Weicker, a Realtor with the Greenwich office of Sotheby’s International Realty, is currently representing the seller of 500 River Road, Unit 3, a two-bedroom, twobath Cos Cob home listed for $859,000.
This condo is part of the Lancing Meadows Association, a community of just 24 homes and an association-maintained pool.
“Unit 3 has a lightfilled spacious, open floor plan, a fireplace, and a great area for a home office workspace,” Weicker noted, and pointed to the primary suite as another compelling attribute. It has a large walk-in closet and en-suite bath. “It is an end unit, which is also desirable.”
“The condo market is not as strong as the single-family housing market is; however, it is serving as a great option for people taking advantage of the incredibly strong market for singlefamily homes and selling their home and scaling back to a condo, while still able to live intown,” according to Weicker.
“Young professionals—both single and married—can enjoy the amenities of a condo association, such as a pool and gym, with an easy, lowmaintenance lifestyle that suits their active and busy lives,” she added.