Foreclosure price cut on Round Hill Road

We're not in La Tuna anymore, Toto

We’re not in La Tuna anymore, Toto

516 Round Hill Road is now offered to the discriminating buyer for $7.750 million. This property has had a colorful history, beginning back in 2003 when that lovable rascal Dom Devito bought the land and persuaded his friend Marcus Zavataro at Patriot Bank to lend him $6.143 million to build  a spec house. The foundation went in, the framing went up, and there things stood for a long time, while most of the Patriot/Zavataro loans went belly up, Dom was sent off to La Tuna Federal Medium Security prison outside of El Paso, and the market for big ticket homes on Round Hill Road fell off the cliff. Eventually, Patriot won title via foreclosure (June, 2010), Marcus went off to offer financial advice to new clients and even Dom has returned, fit, rested and raring to go. He’s even driving a rather fancy Indian car around town these days – the boy knows how to land on his feet.

In any event, Patriot sold off the shell of this house for $3 million to the present owners, who finished it and put it back up for sale in January for $8.3 million. Today’s price cut indicates how that’s gone, so far. The two problems I see here (aside from price and location) are what to make of that four years or so it sat unfinished, and the affect, if any, weather and cold had on the structural integrity, and the land: Dom sort of bulldozed a pile of dirt together, just large enough to support a house footprint, held it back with a retaining wall and left the rest as an ironic reference, for movie buffs, to “The Guns of Navarone”. Tough sledding, if you will.

But there you have it. If you want to live in Dom’s neighborhood; and you should, or just down the road from the Raj, when he gets out of his prison, this is the spot for you.


Filed under Back Country, Buying/Selling Greenwich Real Estate, Foreclosure, Neighborhoods

19 responses to “Foreclosure price cut on Round Hill Road

  1. Walt

    Dude –
    Why doesn’t Dom Devito, or is it “Don” Devito, stick to what he knows? Building row houses in Cos Cob. It matches his skill set, and he would probably have better luck.

    Plus driving around in a Bentley wearing a wife beater, plaid shorts, black knee highs and sandals is a little tacky.
    Don’t ya think?

    Your Pal,

  2. anon

    De Vito? Zavatarro? Where are the fountains in front? No wonder it didn’t sell..

  3. Riverside

    Speaking of backcountry (were we?), did you notice that Peter Brant’s Grand Theft Auto video game sold more than $800M on the first day?!

    • I did – didn’t his kid start that? Impressive, regardless, although what that says about our modern society is a little disheartening.

      • housecat

        …not to worry, though. What appears at first to be an animated rape scene in GTA V is, in fact, merely an act of nude cannibalism – according to the press release, anyway.

  4. Riverside

    His kid did start it, but he owned 70% of the stock.

  5. anon

    Brant invented grand theft taxes … oh wait, that wasn’t a game, that was real life.

  6. Greenwich Gal

    Tell me about Marcus Zavatorro….where is he now?

  7. ghost of Hiram


    • Close call. I used it as a noun,, not a verb, so “while the cold and damp might have affected the structural integrity” would be correct, the “effect of the cold and the damp” is probably, technically correct.
      I say it’s nitpicking, in this instance, but I’ll give you a half point.
      Hope that doesn’t affect your mood.

  8. Anonymous

    Speaking of Patriot, are we forgetting to include dear ole Angelo DeCaro??!!

    • Oh yes – was kicked out of Patriot, the bank he helped found, started a new bank in Port Chester, that failed, and is now busy writing a novel, I understand. His son, who’s some low-level functionary in the Tesei administration, was last in the news for, allegedly, delivering $40,000 cash, in a paper bag, to Ruth le Blanc Jones so she could keep her loan with the Port Chester bank “current” so their books would balance.
      De Caro denied it and he’s still free, so perhaps it was untrue.

  9. Flash

    That is an empty kitchen. I want to open the cabinets to see what, if anything, is inside.

    The $4+million house cost surely contains the price of engineer and architect verification of compliance to code… one at the Building Dept would approve without CMA paper.

  10. Mike

    As far as the house, the guy who purchased it didn’t finish the house completely. For this price the home needs a pool, finished basement, etc.

    As far as Dom Devito goes (you obviously never met the guy) despite His indiscretions he’s a class guy. In my opinion the reason why people keep throwing money at Dom is because with guys like this you know where you stand, a far cry from the impostors you encounter all over this town. I have seen him since he is home and tried to offer my assistance as a broker in selling some of his lots in town. His group is fresh well funded and making deals. I don’t know about you but I’m tired of hearing all the whining and complaining that you hear non stop in regards to the real estate market .

    Maybe when you meet him he will make you an offer you can’t refuse!


  11. Anonymous


    This guy Dom has a Bugatti as well ,I saw him 3 weeks ago at the car wash on Church St mega loot!

  12. Beau

    Domo is a great guy, and an excellent builder and anyone who says otherwise clearly knows nothing about him.