Deleted

51 Glen Avon, new waterfront construction that appeared briefly on the market with an $18.6 million price tag, has been deleted. I don’t know when; I wasn’t watching, but I assume the sellers figured out that the timing is not right for this price. Will it ever be right? Not unless we get hyper-inflation, is my guess.

6 Comments

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6 responses to “Deleted

  1. Fake Walt

    Unrelated…CF I know you own a Kindle so I thought you might find this article entertaining

    (feel free to post separately)

    http://www.msnbc.msn.com/id/32014285/ns/technology_and_science-tech_and_gadgets/

    Off to The Amazon

    Kind Regards,

    Fake Walt

  2. Doh!

    I had heard from a good source that 51 Glen Avon was built with a loan from Patriot Bank. Might PinPat own the loan now?

    • christopherfountain

      I’d be surprised if there was a problem on Glen Avon, Doh!. From all accounts, the builder/owners built for themselves and then decided to move to England for what I assume were job-related reasons. Not even a hint of financial trouble so my guess is that they’ll rent this out for a huge sum and return to it later. I really liked the house, even if I wasn’t impressed by its price.

  3. Riverside Dog Walker

    But they had to spend about $10 million buying the previous house and then building this monstrosity. Hard to believe this was paid in cash. If so, maybe it is not a big deal for it to sit empty with the (tacky in my opinion) gas light lamps on all around the property for months on end.

    If not, they have a mortgage to service, and I would suspect even with a rental tenant, they will be in a negative cash flow situation. Maybe a problem maybe not. Remember, the first thing you learn on Wall Street is not to let people see you sweat. At least until you declare bankruptcy, I guess.

    I’m sorry, but this house pushes my buttons….. It was such a nice piece of property.

  4. Krazy Kat

    That move to London may not have been for the ideal job-related reasons.

  5. Wally

    The owners are back in Greenwich for the summer.