Otis home sold for $2.6 million
OTIS -- Two adjoining lots on Pease Road, one with a waterfront home on Big Pond, recently sold for $2.6 million, making the transaction the second-highest price paid for residential property in Berkshire County in 2012.
This year's highest residential price, which is also believed to be the largest price ever paid for a residential property in the Berkshires, was $9.8 million for the historic 44-room Elm Court estate in Stockbridge. Elm Court was sold in July to a group from Colorado that operates destination resorts.
The Pease Road sale is listed as a non-market transaction, which means it was sold privately without a broker, so it was not recorded by the Berkshire County Board of Realtors.
A residence on Blue Hill Road in Great Barrington sold for $2.3 million this year, according to the Berkshire County Board of Realtors, after being listed for $3.45 million.
Although residential home sales in South Berkshire were down 9 percent during the first quarter of 2012, Board of Realtors President Chapin Fish said sales of "ultra premium" properties in that area have begun to pick up.
"As the economy seems to be improving, buyers have more confidence," said Fish, who is a broker with William Brockman Real Estate in Monterey. "I'm seeing more people look at these types of properties.
"There's still a lot on the market in that price range with relatively few sales," he said. "But it's definitely improving."
Janette Cooper Cimini Trust sold the property on Pease Road to NMY Management LLC of New York City, according to documents on file at the Middle Berkshire Registry of Deeds in Pittsfield. Cimini is a retired businesswoman from Essex, Conn., who previously sold two other residential properties in Otis that she had developed.
The Pease Road parcels contain a combined 2 1/2 acres, according to Cimini. The 2,600-square-foot home, located on a 1 1/2-acre parcel that juts out into Big Pond, has 600 square feet of waterfront space, and 1,000 feet of dock space. The two parcels originally contained three cottages, one constructed in 1930, that have been torn down. Construction on the current house began in October 2011, and was completed last month, Cimini said.
Fish said he believes the Berkshire County Board of Realtors has sold more $1 million homes in the first eight-plus months of 2012 than it sold all of last year.
"It's actually very busy in South County right now," he said. "It's mostly lower priced homes, but there is some activity in the higher priced homes as well.
"It's not a seller's market by any stretch of the imagination," Fish said, "but everything is trending well."
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