Friday, April 14, 2006

The Value of an Acre of Sound-front Land

How much is undeveloped, buildable land on the shore of Long Island Sound worth?

How does $3.5 million sound? Per acre.

I was flipping through the real estate advertising supplement that came with yesterday's Times and came upon a listing for house on Sasco Hill Road, in Fairfield: big house, 5.5 acres, 178 feet of beachfront -- $17.7 million. However if you want just the house and 3.5 acres, you can have it for $10.7 million.

The other two acres are an approved building lot. Apparently you can pick them up for $7 million -- or $3.5 million an acre.

Here's the listing.


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