Graystone Condos in New Canaan, CT

Opening Overview

Graystone sits at 60 Lakeview Avenue in New Canaan, a small townhouse condominium community of just 20 units built between 1972 and 1986. Thirteen MLS sales on record show closed prices ranging from $450,000 to $1,100,000, with a median of $855,000. At roughly $387 per square foot on the median, Graystone prices well below the town-wide median of $2,080,000 for all residential property types — which makes it one of the more accessible entry points into New Canaan condominium ownership. That discount is real, but the spread within the complex is also real: the cheapest recorded sale was $450,000 and the top was $1,100,000. Unit size, condition, and renovation level drive most of that gap.

Graystone Condos for Sale

With only 20 units in the complex, turnover at Graystone is naturally limited. Most owners hold for several years, and publicly listed inventory is rarely available for long when it does surface. There are no verified active listings to report here. Availability changes quickly in a building this small, and off-market opportunities exist. If you are watching Graystone specifically, contact The Engel Team to be notified when a unit becomes available before it hits the market.

Recently Sold at Graystone

MLS records show 13 sales at Graystone across a range of unit types and price points. The most recent sale closed in May 2025: Unit 1, a 3-bedroom, 2-bath unit at 1,854 square feet, sold for $855,000. The top recorded price is $1,100,000, achieved twice — Unit 17 in April 2024 (3 bed, 3 bath, 3,336 square feet) and Unit 19 in August 2022 (3 bed, 3 bath, 2,497 square feet). At the lower end, smaller 2-bedroom units around 1,032 to 1,292 square feet have traded between $450,000 and $670,000.

The median price per square foot across recorded sales was approximately $387. That figure compresses significantly at the larger end — the 3,336-square-foot Unit 17 at $1,100,000 works out to roughly $330 per square foot — while smaller units have traded at higher per-foot rates when renovated. Any buyer using these comps to price an offer should account for renovation level, unit size, and the specific HOA fee attached to each unit, which has varied from $303 to $730 per month across recorded transactions.

About Graystone

Graystone is a 20-unit townhouse condominium community located at 60 Lakeview Avenue in New Canaan, CT. Construction spanned from 1972 to 1986, which means units within the same complex can reflect different build eras, different systems, and meaningfully different conditions depending on what the current or prior owner has updated. The complex is set within a town that covers roughly 22 square miles and holds about 21,000 residents — and at just 20 units, Graystone is a small community by any measure. The address positions it within the broader residential fabric of New Canaan, accessible to Irwin Park and the town’s trail network without the price point of a single-family home on a comparable lot. This is a condominium that competes on value within a town where the median sale across all property types sits at $2,080,000.

Homes and Layouts at Graystone

The 20 units at Graystone span a meaningful size range — from approximately 1,032 square feet on the smaller end to 3,336 square feet at the largest recorded sale. The unit mix includes 2-bedroom, 3-bedroom, and 4-bedroom configurations, with bath counts ranging from 2 to 4. All units are townhouse style, meaning vertical layouts with multiple floors rather than single-level flats. That distinction matters for buyers with specific accessibility requirements. The townhouse format also generally means more private entry, less shared-corridor exposure, and in some units, direct access to outdoor space. Given the range of build years within the complex, floor plans are not uniform. Buyers should request the specific floor plan for any unit under consideration rather than assuming consistency across the building.

What Buyers Need to Know

HOA fees at Graystone have ranged from $303 to $730 per month across recorded MLS transactions, and the fee does not appear to be uniform across all 20 units. Before making an offer, buyers should request the current HOA fee for the specific unit, the most recent budget, reserve fund balance, and any pending or recently completed special assessments. A building with construction dates spanning 1972 to 1986 carries meaningful age on its core systems — roofing, HVAC, plumbing, and electrical. Reserves matter here. Thin reserves in a 50-year-old building are a risk, not a footnote.

Property taxes have also varied considerably across units — from $3,858 per year on the smallest recorded sales to $14,326 on a large 3-bedroom unit. Buyers financing at today’s rates should model total monthly cost including HOA and taxes, not just the purchase price. On a $1,100,000 purchase with a $730 HOA and $14,326 in annual taxes, the carrying cost before any mortgage is over $1,900 per month. That is not a deal-breaker, but it is a number to know before signing a purchase agreement.

Buyers should also verify the association’s rental policy, owner-occupancy ratio, and pet rules before committing, particularly if financing with a conventional loan — lenders apply occupancy and rental thresholds to condominium associations. Renovation variation between units is real in a complex this old, and the gap between an updated unit and an original-condition unit can be significant. Request disclosures on mechanicals, windows, and any recent capital work. The resale package from the association, including the master deed, bylaws, and meeting minutes, should be reviewed by a Connecticut real estate attorney before closing.

Buying or Selling at Graystone

In a 20-unit complex, pricing a unit correctly requires real comp analysis, not just a median. The $650,000 spread between the lowest and highest recorded sale at Graystone reflects genuine differences in size and condition — not just market timing. If you are selling at Graystone, the right price depends on your specific unit’s square footage, renovation level, floor plan, outdoor space, and current HOA fee relative to what buyers have paid for comparable units here and at other New Canaan homes for sale. A generic price estimate based on town averages will either leave money on the table or sit unsold.

If you are buying, the combination of limited inventory and meaningful unit variation means that understanding the full transaction history at Graystone — not just the last sale — is the foundation of a credible offer. The Engel Team tracks activity across New Canaan’s condominium market, including off-market movement, and can position you to act quickly when a Graystone unit becomes available. Reach out directly for a current valuation or to be added to the watch list for this complex.

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