Daily Archives: May 21, 2009

And a sale

799 Lake Avenue sold today for $3.150 million, down quite a bit from its asked-for price of $3.850 (attention, Brother Gideon – is it “insulting” to offer 80% of the asking price?) but no huge damage – seller paid just $3.285 for it in 2005.

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Contracts

Only one contract reported today, for a $750,000 multi-family in Byram. So far this month, we have had twenty houses go to contract, compared to 32 in the same period of ’08 (when the market was into its death spiral), 41 in ’07 and 46 in ’06.

Year – to – date, 83 contracts for single family homes, compared to 181 in 2008, 299 in ’07 and 279 in ’06.

 Just in case you were wondering.

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I know, I know, Greenwich is different and it can’t happen here

Bloomberg: San Francisco median house values drop 41% from last year. Foreclosures, inability to get “jumbo” mortgages major factors. Just saying ….

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Town & Country bookends – E.78th Town House, 175 Round Hill Road cottage

Marisa Noel has put her townhouse up for sale for $12 million, although the word is she’ll take much less. No indication yet that Walt’s got his cottage on the market, but it can’t be long now, eh? What were the odds, a year ago, that you’d see a reporter use the adjective “ruined” twice in one paragraph while referring to Walt and his Fairfield Greenwich Group? Times do change.

All year, brokers have known that 12 East 78th Street would be coming on the market. After all, the townhouse belongs to Marisa Noel Brown, a daughter of the ruined Fairfield Greenwich Group founder Walter Noel. (Her husband, Matthew, had been a managing director at his father-in-law’s ruined firm.) 

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Stephen Dent will sell postcards at the ninth hole

Public Hours, 9am -12

Public Hours, 9am -12

It says herethat private golf clubs, desperate for income, are grudgingly opening their greens to the public. Reached for comment, Frederic Bourke referred all calls to his mouth piece, Walter Noel, who in turn replied, “I’m not saying they will, I’m not saying they won’t, but Monica and the Girls make some of the best lemonade south of the Merritt, I’ll tell you that. You interested in investing?”

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Like father, like son

One man with a briefcase ...

One man with a briefcase ...

Jesse Jackson Jr. has paid wife over $500,000 as a “campaign consultant”. I assume that there’s no need to point out that this wasn’t his money he was paying her with. In my next life, I want to come back as a Chicago Democrat and get rich.

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Building lot value in Riverside

284 Riverside Avenue, a 0.38 building lot presently occupied by a one-story brick home, came up for sale today at $999,000. Not so long ago that lot would have sold quickly, even though it’s directly across from the terminus of Spring Street and car headlights illuminate it all night. I’ll be curious to see its fate now.  Good section of Riverside, being just a  few blocks away from the Fountain family stronghold, but local builders are on hiatus and homeowners looking to build aren’t quite tearing up the pea patch.

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Yeah, that’s the ticket, we’ll shut down western civilization!

UN Global climate treaty demands zero emissions from developed countries.

May 20 (Bloomberg) — The United Nations’ first draft of a new treaty to stem global warming suggests goals such as the near elimination of greenhouse-gas emissions by mid-century in developed countries including the U.S. and Japan.

China, India and other emerging economies would have to aim for a 25 percent reduction of heat-trapping gases, under a separate option that would mark the first-ever target for developing nations.

The 53-page text, posted today on the Web site of the UN Framework Convention on Climate Change, will now be refined by 192 countries in negotiations to forge a new deal to succeed the 1997 Kyoto Protocol climate-protection treaty.

“Emissions need to come as close to zero as possible by 2050, that’s the scientific reality,” Stephanie Tunmore, climate campaigner for the environmental group Greenpeace, said today in a telephone interview. “Someone has to take this process by the horns and give it a good shake.”

Today’s text suggests ways for countries to stem global warming also by sharing clean-energy technology. Richer nations were urged to aid developing economies in adapting to effects of rising temperatures. Limits on gases such as carbon dioxide for 37 nations under the existing Kyoto accord expire in 2012.

My liberal friends accuse me of being hysterical when I say that these people’s goal is nothing less than the destruction of the modern world, but that’s exactly what they say they want to do and I believe them. Would any civilization commit collective suicide, you ask? Ours will – the teachers have inculcated a sense of hatred and shame for our country in their students, we’ve substitued “moral relativism” – a fancy term for no morals at all – for the Judeo-Christian ethic, and kids are taught to praise collectivism sneer at the very concept of individualism. We’re more than on our way, we’re almost there.

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Update on the Hedge Fund Murder

Stung by accusations by his critics that the Greenwich Police Department is doing nothing to investigate this mysterious death GPD Chief Ridberg announced at a second news conference this morning that the police will indeed start looking into the matter, immediately. Here he is with his top assistant, Officer Joe  Bolton, swearing in a posse.

K-9

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We’re all equal now!

When it comes to credit cards, anyway. By forcing credit card companies to subsidize dead beats with its new legislation, according to the New York Times, Congress is paving the way for fees and interest charges to be imposed on consumers who pay their bill each month. Pay your balance every month? Yu’ve been a “free-loader” according to an industry spokesman, so now they’ll charge interest from the date of purchase. Fees are returning too because we’ll be subsidizing those who abuse their credit. “It’ll be much more egalitarian now”, that spokesman says and, from a liberal perspective, I’m sure it is.

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