Greenwich, Connecticut’s luxurious market has been on fireplace over the previous yr, and Kathie Lee Gifford is trying to money in on the motion.
The previous “At this time” present host this week listed her waterfront property at 108 Cedar Cliff in Riverside for a whopping $100 million — practically 13 instances what she and her late husband, former New York Giants participant and sportscaster, Frank Gifford, paid for it within the early Nineteen Nineties.
If the sale closes for that value, it could be among the many most costly offers ever achieved within the prosperous suburb, lengthy recognized for its reputation with rich commuters to New York Metropolis. Simply three years in the past, one other property within the space, often known as Copper Beech Farm and offered by an LLC linked to billionaire Ray Dalio, set a brand new state report when it offered for near $139 million.
Whereas not unprecedented, Gifford’s asking value is probably going aspirational. Whereas the eight-bedroom mansion sits on a 3-acre lot with sweeping views of the Lengthy Island Sound and the Manhattan skyline, a purchaser within the property will probably tear down the prevailing Mediterranean-style residence, in accordance with Megan Sullivan, who recently joined Douglas Elliman as a person agent after main one of many area’s high groups at Sotheby’s Worldwide.
“There are simply not that many properties in Greenwich that command that stage, and this isn’t one in all them,” Sullivan stated.
She added that she anticipated the property to commerce nearer to $40 million based mostly on different latest offers. Gifford’s itemizing dealer, Sotheby’s Worldwide’s Leslie McElwreath, defended the value to the Wall Avenue Journal, arguing the property’s location and water entry, together with a pier, dock and personal seaside, justified the nine-figure ask.
Even when Gifford misses the mark, it’s arduous to fault her for attempting, given the Greenwich market’s momentum. Final yr, 39 houses traded for greater than $10 million, up virtually double from the earlier yr, stated Sullivan, who simply represented the client within the $10.4 million sale of a five-bedroom abode that when belonged to Starwood Capital’s Barry Sternlicht.
However all that exercise has worn out a lot of Greenwich’s stock, echoing a typical drawback throughout lots of the area’s luxurious markets. Sullivan stated there are solely about 100 to 105 houses available on the market now, considerably fewer than the 600 to 700 listings in the course of the spring market earlier than the pandemic.
“There’s by no means, ever been a market like this on so many alternative ranges,” Sullivan stated.
Not so quick…
The Higher East Aspect townhouse market had a banner first quarter.
Offers for houses within the neighborhood totaled near $283 million in the course of the first three months of the yr, up 80 % in comparison with the identical interval in 2025, in accordance with Leslie J. Garfield’s quarterly report.
The world’s gross sales quantity was the very best in Manhattan, although it fell wanting its fourth-quarter quantity, at $326 million in gross sales. The common sale value rose 70 % to $16.6 million, whereas the variety of transactions in the course of the interval, 17, remained on par with the year-ago numbers.
The report credit the uptick to a number of notable trades within the neighborhood final quarter, together with the $47 million deal for billionaire Ron Perelman’s townhouse at 36 East 63rd Avenue.
One other huge townhouse deal may very well be on the horizon. Earlier this month, the household of the previous Treasury Secretary Steve Mnuchin listed their townhouse at 45 East 78th Avenue for $35 million.
NYC Deal of the Week
The most costly sale to hit the town rolls this week was for a co-op at 775 Park Avenue, which traded to a belief tied to financier James Sterne for $16.3 million. The Higher East Aspect co-op was offered by Thomas Edelman, co-founder of an vitality personal fairness agency, and his spouse, philanthropist Ingrid Edelman.
Unit 6/7C, which hit the market in September asking $18 million, spans roughly 5,000 sq. ft and has 5 bedrooms and 5 bogs. It additionally options 11-foot ceilings, a wood-burning fire and an eat-in kitchen.
Brown Harris Stevens’ John Burger had the itemizing.
Learn extra
Kathie Lee Gifford lists Connecticut waterfront estate for $100M
Greenwich home with ties to Ray Dalio sold for $139M
Top Connecticut broker leaves Sotheby’s for Douglas Elliman
