New broker, new price — waterfront is not always a shore thing

111 Byram Shore Road was listed on April 14th of this year at $14,000,000, dropped to $11,000,000 May 30th, and stayed there until October 02, when the listing was cancelled. Now Sotheby’s has brought it back on the market at $10,350,000.

According to its CT Judicial Docket. the owner appears to have stopped paying on her mortgage in 2009, and the property’s been in foreclosure since 2013. Since then, there have been claims and counterclaims, dozens of motions, foreclosure dates set and reset, the WaMu collapse that threw everything into chaos, more motions, and even a brief stay in bankruptcy court before the case was denied and returned to the State Superior Court.

The case should finally reaching its end, if only because there will soon be nothing for the owner to retain, if there’s anything left now; the original debt, including unpaid interest, was $6 million in 2013, and the accrual of 12 more years of interest due can’t have left much to fight about. Auction by August? Who knows, but there might be an opportunity to grab the place at a decent discount now, rather than wait ‘til then. It’s certainly a more desirable location than Anderson Road, @$9 million+. Spend a little bit more, get a lot better house.