Daily Archives: February 11, 2010

Going out on a limb

So here, for the record, are my predictions of sale prices for the larger estates currently for sale:

Leona Helmsley: 521 Round Hill Road : $27.5 million

Mel Gibson – 120 (?) Old Mill Road: $19.5 million

30 John Street: $18.5 milion

North Street (whatever the address, the big brick mansion place with land, across from Dingletown): $8.5 million


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Democrats kill their own jobs bill

Which is fine, but notice the reason: tax cuts!

Sen. Dianne Feinstein (D-Calif.) said she’d like fewer tax cuts and more provisions increasing lending to small businesses.

“It is my belief that tax credits only go to people who are making money, and they generally keep it,” she told reporters.

Sen. Tom Harkin (D-Iowa) argued that if lawmakers plan to extend corporate tax breaks, they would also extend employment insurance.

“He’s trying to keep it simple,” Harkin said of Reid. “But what I think ought to be in the package is unemployment insurance for one year.”

Baucus had loaded his bill with tax cuts in the hopes of attracting Republican votes — a decision that outraged many Democrats who thought his bill would do little to create new jobs.

Under Democrat rule, allowing people to keep what they earn is an anathema – you come crawling to the party for a handout or don’t apply at all. But remember, the Democrats are the party of small business!

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I’m awfully impressed that they tried

GT photo - fireman with dog

A fire on Palmer Hill killed two pets, despite firemen’s efforts (well,on the family dog, at least – sounds like the chinchilla was left to fend for itself)

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I like this woman

Germany’s Chancellor, Angela Merkel, is saying no dice to bailing out Greece. You go, girl! Too bad she wasn’t running our country when TARP came up.


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Good heavens, even the BBC has discovered climate fraud – can the NYT be a year behind?

It ‘s going to be tough explaining to its readers what they’ve missed in the past 36 months, but I’m confident the Times will rise to the occasion, if it’s still around.

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Greenwich budget message from Peter Tesei

I’m waiting for permission from First Selectman Tesei to post what he sent me but I thought I’d take the opportunity to praise the people in town who put the effort into managing our finances. I’m the type to stand on the sidelines doing nothing while they work and then take potshots at their efforts. And that’s easy to do: I’d love to spend your money on what interests and concerns me, but the committed people do the work and try to come up with reasonable allocations. Democrat or Republican – I tip my hat to the Fudruckers, Krumeichs and Tesei’s of this town who spend huge hours trying to make Greenwich work. I tend toward the cynical side, but that doesn’t mean I can’t appreciate true citizens.

Geeze, if I stay in this maudlin vein, I might say something nice about our police force, so I’d better quit now.


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Leona’s place and assessments

A reader close to my heart claims that the tax assessor knows nothing about Greenwich values so I thought I’d check out what the assessor has to say about the late Leona Helmsley’s estate at 521 Round Hill Road, which I estimated to be worth $40 million when it was first listed some years ago at $125 million. The listing broker took the largest price cut in Greenwich history: $65,000,000, but still couldn’t sell it at $60,000,000 and now it’s off the market while the estate regroups and decides what to do with the place. My advice would be to hire me but that’s not likely, so let’s see what the Town of Greenwich thinks it’s worth:

Turns out, $47 million or, at 70%, $33,437,000. I rest my case.

UPDATE: checking out my old posts, I see that I started at $40 million on this place but as the years passed without a sale I dropped my estimate to $27 million. That seems about right to me. Which makes 30 John Street’s price laughable, but only if you listen to me – my  brother Gideon will probably sell it at full price.

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