Not every price cut can be blamed on the recession

29 (?) Topping Road failed to sell for $37 million four years ago so in 2008 the seller raised his price to $45 million. Only God knows why that tactic didn’t work but regardless, he’s down today to $39 million. It doesn’t come with a real house on it, like his neighbor Leona’s does but, at least for now, it’s cheaper. dream on.

14 Bayside Terrace in Riverside was priced at $1.495 a few monthgs ago and came down today to $1.295. That would probably have been a better place to start.

6 Comments

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6 responses to “Not every price cut can be blamed on the recession

  1. Since you are covering so much real estate I thought you might be interested in some local anti-obama hedge fund rant…

  2. anonymous

    Are nearly all these big land block sales by some codger who has no basis value in land and little cash net worth….thus the absurd ask prices?

    Suspect these land blocks will be estate sales, split into building lots, a few yrs from now, whenever codgers croak and heirs need proceeds

  3. Walt

    Now if this stuff doesn’t scare you, I don’t know what will. So long, free market enterprise. Hello socialism.

    http://www.businessinsider.com/new-allegations-of-white-house-threats-over-chysler-2009-5

    Anyway.
    OFF TO DINNER!!!
    Your Pal,
    Walt

  4. Walt

    Tip of the hat to Cliff. He nailed it. No comment requiered. He said it all.

    http://dealbook.blogs.nytimes.com/2009/05/05/a-hedge-fund-manager-strikes-back-at-obama/#more-57645

  5. Blind Brook

    Owner Treibick is just fishing. Has plenty of dough and several other residences. Used to own Helmsley’s Dunellen Hall once upon a time. Greenwich didn’t like him, he didn’t like Greenwich. Not accepted into clubs, etc. He’s not selling the barn or farmhouse on Burying Hill, part of the parcel. He’s paying big taxes, will sub divide.. make him any offer.

  6. Cos Cobber

    CF, you need to elevate Walt’s link to Cliff Asness’ letter to Obama ASAP. This is a thing of beauty and of bold courage too.