FOR SALE: 37 Beacon St, Bridgeport CT

by: Scarce

Sat Sep 26, 2009 at 11:02:47 AM EDT

A feature in this weekend's New York Times about the upscale housing woes in Litchfield County got me to wondering if former congressman Chris Shays had sold his own home yet. Well, it turns out he hasn't though it's now been on the market about 7 months. Should he be concerned? Hard to say really. Things shouldn't be as bad as in Litchfield (the anti-Hamptons) where asking prices have dropped about 33% in the past year, but the price has been knocked down about 5% on this gorgeous property on the Long Island Sound, from $1.95 mil down to $1.85 mil. And then there are the matters of taxes ($32,000/year), albeit on a much lower assessed value, and a possible huge bill for capital gains as it was purchased for only $490,000 in 1998.

Therefore, as a public service a free advertisement at MyLeftNutmeg is the least we can do for this longtime  public servant of Connecticut's 4th District.

If you'd like more information contact Gail Robinson at William Raveis Real Estate.