Daily Archives: January 21, 2009
Uh oh!
China’s 4th quarter growth drops to just 6.8%. I don’t have the exact figure off the top of my head but I recently read an interview with a Chinese official who said that to keep social unrest low and provide jobs … Continue reading
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Zillow
My blogger friend in Tucson, John Schneider, has an interesting post here, in which he compares Zillow estimates of value with the actual sales price. Zillow errs on the low side, usually. Does that apply to Greenwich? Who knows? I … Continue reading
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Shark sighting – swim, Monica, swim!
A class action bucket shop has issued a press release (treated as a real news article by the Stamford Advocate but that’s what you’re reduced to when you fire all your reporters) announcing an “investigation” into the affairs of Walter Noel … Continue reading
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If Walter Noel hadn’t been so GD shortsighted he could have parked his clients’ money here.
This Texas hedge fund operator earned a whopping 67% annual return for his investors all while luxuriating in the swimming pool he installed in his office. It’s true that he now seems to have been a bit optimistic in calculating … Continue reading
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Caroline – she’s in, she’s out, she’s in, she’s out – for now, you know?
The Post says that Carline Kennedy has withdrawn her name from the NY Senate appointment because she wasn’t going to get picked anyway. I’ll be glad if she’s picked up her toys and returned to her penthouse but The Post … Continue reading
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The lights are going out across Europe
Portugal’s debt downgraded, joining Spain and Greece. Next, Italy? Eastern Europe? The entire EU? Hang onto your food stamps.
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From $8.9 to $5.2, $5.5 for Malkin?
That’s the rumor. If true, and I don’t know that it is, someone got a great deal. But, and again, only if this rumor is true, it illustrates the damage a seller does to himself by over- pricing his house. I loved … Continue reading
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No Apple store on the Avenue but foul water in your tap!
Fareri (sp?) , the developer who owns the old theatre on Greenwich Avenue, was back before P&Z last night trying to eliminate a previous decision of the board that he must use the third floor of the building for residential apartments, … Continue reading
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Toilet wars postponed
The P&Z punted on Olga’s Russian tea house proposed for Simmons Lane this morning at 2:00 AM, deferring until another day the burning issue of how many toilets are enough. It was rumored, falsely no doubt, that Steven Cohen was … Continue reading
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Sotheby’s and the Internet
Earlier today I posted an item stating that Sotheby’s refused to permit its listings to be posted on other firms’ websites which I opined might be a competitive advantage to them but did a disservice to those of their clients who wanted … Continue reading
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Walter keeps his house!
A judge refused today to freeze Noel assets, buying their argument that they’re Madoff victims too. Wow. In the good old days, we lawyers in Connecticut could initiate a suit by freezing a defendant’s assets. Such fun, and so effective in … Continue reading
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How to save $200 (painfully)
First, stop by the Orvis warehouse sale on your way back from Westport (runs through January 25th). Pretend that you’re there to look for another pair of those $98 bluejeans (??!!) selling for $19, but drift over to the folding … Continue reading
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Mad Monkey’s gonna love this one
71 Fairfield Road was purchased for $1.442 million back in 2002, underwent extensive renovation and has been returned to the market today at $2.850, or almost the Monkey’s specified minimum price of $1,000 per square foot. I’m not sure how … Continue reading
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Sign of life?
Peter Malkin’s house at 21 Bobolink Road, last listed for $6.9 million, has gone to contract. No word on price at this stage but I doubt the listing broker, David Ogilvy, enjoyed a bidding war – he’s had it up … Continue reading
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Madoff Trustee to take years for refunds
Between locating assets and fighting intra-investor lawsuits, Madoff’s court-appointed trustee estimates it will be at least five years before Bernie’s remaining assets are distributed to his victims. I doubrt the process will be any quicker for recovering money from all the … Continue reading
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Recycling money
Our garbage is now worthless, making recycling a money-losing proposition. Cardboard that sold for $250 a ton just a year ago now sells for $50, according to an NPR article this morning, “if it can be sold at all”. The … Continue reading
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Public Information
In an otherwise-sympathetic posting, a commentator suggests that this blog isn’t helping the market because I report actual information, rather than permitting buyers to dream. The reader is out of touch with the realities of today’s marketplace. There was a … Continue reading
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Don’t tell the mad monkey
46 Quail Road was bought for $4.875 million in March, 2005. The new owner spruced it up a bit and put it back up for sale in April ’08 for $5.2 million. Today he reduced it to $4.3 million. He’s … Continue reading
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Monkeys at the Keyboard
I seem to have annoyed at least one anonymous reader who has been posting mean things about me down below (“For Sale by Owner?”). According to this gentleman, if Greenwich homeowners will only stick to their guns and refuse to … Continue reading
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A small but telling snapshot?
76 Long Meadow Road, a nice house with perhaps an awkward location up a steep driveway, expired today, unsold at $1.250 million. Its owners paid $1 million for it in July, 2005, made some improvements and have tried to sell since … Continue reading
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