By Ken Valenti
WESTPORT–The latest chapter in the saga of the “blue house” is a public sale scheduled for Sept. 3 – but which the owner says will not happen.
The mortgage lender, GLP 2206 LLC in New York City, has announced the sale of “all the limited liability company interests” in Summit Westport LLC, the entity that owns the infamously unfinished beachfront house at 233 Hillspoint Road.
But James Pendry, owner of the house and holder of Summit Westport’s interests, does not anticipate the sale taking place, and was disappointed that it was announced. He said he is close to paying off the $3.5 million mortgage that the lender holds.
“I don’t know where this is coming from,” Pendry said. “It was my understanding that the attorneys were talking. We were a week away from paying off the mortgage. I don’t see how (scheduling the sale) accomplishes anything.”
Overlooking Compo Cove and Long Island Sound, the two-story house stands in a scenic area popular with pedestrians. It is notorious for having been partially covered in blue Tyvec-brand builder’s cloth for years while its development became mired in stop-work orders and lawsuits, including one filed by residents.
Pendry obtained the property in January 2024 and began making improvements. “There’s not one wall that’s in the same place,” he said. He enclosed an outside staircase and weatherproofed the entire exterior, he said. He also has created a new roofline, with a 300 square-foot deck overlooking Long Island Sound.
Once the mortgage is paid, he plans to borrow $5.5 million or $6 million from another lender to recoup the mortgage costs and to finish construction of the house, which he estimated would take about four months.
Northgate Real Estate Group, the contact for the auction, describes the house as “a mid-construction single-family home that will feature 4 bedrooms and 4.5 bathrooms upon completion.” It is “equipped with an elevator (and) measures 2,928 square feet. Amenities include high ceilings, a two-car garage, a laundry room, storage space, a fireplace, and a roof deck,” according to the real estate company’s description.
A draft of a legal notice for the September sale obtained by Westport Journal, says, in part that GLP 2206 LLC will sell “certain collateral, including without limitation, all the limited liability company interests in Summit Westport LLC (‘Membership Interests’) held by James M. Pendry (‘Debtor’) to the highest qualified bidder at a public sale in accordance with the NY UCC.”
The property would be sold “as a block and will not be divided or sold in any lesser amounts,” the notice says.
The sale is scheduled to be run by Manion Auctions and will take place at 3 p.m., Sept. 3, 2025 in the offices of Golenbock Eiseman Assor Bell & Peskoe in Midtown Manhattan.
Recent Comments