When a third is not enough

Two years ago, when 32 Twin Lakes Drive (Gilliam Lane to the rest of us) came up for sale asking $15 million, I pointed out that the tired old house had long ago lost its water access and land and was now just a moldering wreck with waterviews, hardly worth that sum.

The owner must be gradually beginning to realize he was sold a bill of goods by his listing agent because he’s been slowly reducing his price and it hit $10 million a few minutes ago, just before the closing bell. That’s a good start – assessment is $4.560, which seems like a good ending for this place.

How could the owner have been so gullible? Well, this is the guy who allowed himself to be blackmailed by Internet hookers thrice, twice by the same girl. Hope springs eternal.

11 Comments

Filed under Uncategorized

11 responses to “When a third is not enough

  1. Jack Brodsky’s old joint, correct? When a youth, I used to go skating on the pond adjoining his property before the land was subdivided and the newer houses, such as the Patrick’s, were erected.

    • christopherfountain

      The Teicherts actually, although Broad may have owned it because he’s the guy who subdivide its 30 (?) acres and built all those hiouses. Remember when Paul Patrick’s dad managed the Rangers and we played hokey on that Pond? It’s where DoDo Hammil first skated, too.

  2. Cos Cobber

    off topic, but anyone care to buy a golf club in Mamaroneck? reader comments in the story indicate Ridgeway in White Plains may also be up for sale.

    Makes me wonder, how’s everything in Gwich?

    http://www.lohud.com/article/20100215/NEWS02/2150330/-1/newsfront/Mamaroneck-club-s-price-tag—14.9-million

  3. Old Coot

    Internet hookers? Where’s the damn link!

  4. not so anonymous

    I remember skating on that pond, and I recall it as pretty rough……pre Zamboni…and how’s Paul anyway?

    • christopherfountain

      Paul seems fine. I last saw him on the sad occasion of his mother Jessie’s funeral, but it was great to see all the Patrick kids again. Lori is happily married and living in Connecticut and keeps in touch with my mother on a pretty regular basis.

  5. Anonymous

    With his bank I doubt this guy spends much time worrying about your assessment values your critique of his personal life or your blog for that matter. This house is worth a lot more than 4.5m.

  6. Old Coot

    No, no…I meant a link to the hookers! You know, the menu, prices, photos, etc.

  7. Chimney

    What ever happened to good old Dildo?

  8. We all know that homes are not marketed according to the town assessed value; Greenwich assessments are all over the place and baseless in determining the sale price.

    Case in Point: Pearl Lane originally listed at 16.5, reduced to 12.5 (assessed at 6.7) closed at 10 mil…It’s a good thing that this seller did not utilize your theory on assessed value.

    In the end, some homeowners believe their homes are worth much more no matter what!