A contract

We’ve been talking about corrupt builders and diet cookies this morning because there is nothing happening in the real estate world – 11 houses on the open house tour today, all retreads. But now at last, a contract has been reported , after 1,000 + days, for 15 Quail Road. The place started at $6.250 in 2006, slowly dropped through the fives and fours and was at $3.99 million when a buyer turned up. Assessment is $3.5 million, which is probably about where this will end up. I think it has a pretty big lien on it arising from unrelated issues but presumably some cash has been freed up somewhere to make this deal happen.