128 Porchuck Road, which closed in April this year for $4.2, came back on the market yesterday for $550K more. It looks to the naked eye to be a flip, but it more than likely is a move from one LLC to another – perhaps the same players or some of them reorganizing with others?- creative accounting. PRCT LLC to 128 Porchuck LLC…
With one crappy photograph and no indication that it’s been improved. The realtor who sold the property in May is representing the seller for the current listing.
PRCT LLC bought it for $5.2 on a list price of $5,395,000. It was initially listed for $5,675,000 140 days prior.
In 2009 PRCT LLC rented it for $12K. They then tried selling it in 2010 for $6.5M and it expired after 344 days. They then switched realtors, and re-listed for $5.5M and it expired once again at $4,950,000 after 364 days. Switching realtors again, they rented it for $15K for a couple of years. Doesn’t look like the rent covered the carrying costs, let alone if they had to repair anything along the way.
6 bedrooms, 7.2 baths, 8000SF+, 4.38 acres – pool and a tennis court that could use some love…most renters just don’t pony up to maintain these little luxuries.
The art of the deal transcends all businesses, and more so in real estate than in many other professions. For the client, it's often an emotional purchase or sale, rather than a simple commodity or luxury item. I make it my mission to have each side come to terms with a transaction that works for everyone. It's not always easy, but good things in life usually take effort - something from which I've never shied.
Licensed since 2009 as a real estate sales agent in CT & NY, I often work with clients on the border of both areas.
With sales and distribution experience for luxury designer products, and watching/reacting to the markets, my acumen for sales was established. Achieving success and contributing to the growth of many global apparel designer brands, such as Giorgio Armani and Paul Smith for over 20 years, it was time for a change. I wanted to explore another passion that would keep me in one location rather than traveling the globe.
Now I have the best of both worlds, a successful business as a fulfilling personal life. My husband and I have lived in back country Greenwich since 2003, where we enjoy easy access to great biking, hiking and golf. We love to ski and that's usually where our travel takes us.
Life is good in Greenwich!
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