End game for 309 Taconic Road?

309 Taconic Rd

309 Taconic Rd

The bankruptcy trustee has accused Stanley Cheslock of “possible fraudulent transfers” and wants to see him in court February 27, the last day by which to pursue such claims. Poor Stan’s been fighting off his creditors for years now, but it’s a good bet that his 23,000 castle atop the hill at 309 Taconic is finally going to be sold off. Zillow, amusingly, estimates the place to be worth $11 million, while the last time it was on the market its price had been cut, slowly, from $20 million + to $9.975.  My guess is that the house is simply too big to hold any attraction to a normal buyer, so unless a Russian turns up at the last minute, it’ll go for land value less the cost of razing it. I say $5 million, but I could be off a million either way.

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18 Comments

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18 responses to “End game for 309 Taconic Road?

  1. Anonymous

    i think any good mansion deserves a chase atm machine in the entryway. it’s a huge convenience/selling point. cheslock should look into that.

  2. Anônimo

    Gee you could buy Cindy Sikorski Rinfret’s version of the same house across the street for about half the price.

  3. NoGolfToday

    The view from the Stanwich CC could soon be restored.

    I remember the originals asking price was very close to 30 million..
    Greenwich Time did an article on the place.
    The owner was quoted as having spent around 22-23 million erecting it.

    The place was lit up literally like a Xmas tree this winter…
    One last show I guess.

    Anyone want to go halves?

    • He sold off some of the land for $6 or $7 (maybe that was one of the “fraudulent transfers” the bankruptcy trustee is referring to?) but yes, he’s asked for quite a bit, and lost even more.

    • anon2

      For the right price, I think Stanwich Club should buy the place. Tear down the house and build another 18 on the land.

      • It’d make a hell of a club house, I suppose.

      • NoGolfToday

        Another 18 what?
        The existing course covers 180 acres.
        And this property is more suited for a Mohawk mountain esk ski slope.

        • anon

          You’ve obviously never golfed in Scotland. Another 18 holes on that terrain would be awesome. Just ask The Donald.

        • NoGolfToday

          I see no need.
          Every friend I’ve ever talked to that has, has said the following.

          The wind blows 25-30 sustained
          Gusts to 50
          Rain, sea spray, cold, damp and foggy.

          Pass.

          St. Barths here I come!
          Walt, you gonna grab steph and head down as well!?

  4. NoGolfToday

    07/02/13Listing removed$9,750,000
    06/23/12Listed for sale$9,750,000
    05/09/12Listing removed$9,750,000
    03/16/12Price change$9,750,000-30%
    12/22/11Price change$13,900,000-13%
    12/15/11Price change$15,950,000+15%
    Source:Higgins Group
    $/sqft:$1,198
    11/18/11Price change$13,900,000-13%
    06/17/11Listed for sale$15,950,000+480%
    Source:Higgins Group – Stamford
    $/sqft:$1,198
    07/06/10Sold$2,750,000-85%
    05/07/10Price change$17,950,000+2.9%
    09/07/09Price change$17,450,000+22%
    Source:NRT TriStates
    $/sqft:$1,311
    07/24/09Price change$14,250,000-18%
    07/22/09Price change$17,450,000+22%
    07/05/09Price change$14,250,000-18%
    05/17/09Price change$17,450,000+22%
    05/15/09Price change$14,250,000-1.4%
    05/02/09Price change$14,450,000-17%
    04/29/09Price change$17,450,000+21%
    04/05/09Price change$14,450,000-17%
    04/03/09Price change$17,450,000+21%
    03/14/09Price change$14,450,000-17%
    03/12/09Price change$17,450,000-2.8%
    03/05/09Price change$17,950,000-5.3%
    02/06/09Listed for sale$18,950,000-39%
    Source:NRT TriStates
    $/sqft:$1,424
    08/31/08Listing removed$31,000,000
    08/14/08Price change$31,000,000+19%
    Source:Prudential Real Estate
    $/sqft:$2,329
    08/13/08Price change$26,000,000-16%
    08/04/08Price change$31,000,000+19%
    07/25/08Price change$26,000,000-16%
    Source:Prudential Real Estate
    $/sqft:$1,953
    07/13/08Price change$31,000,000+19%
    07/12/08Listed for sale$26,000,000-16%
    Source:Prudential Real Estate
    $/sqft:$1,953
    05/22/08Listing removed$31,000,000
    05/19/08Price change$31,000,000+19%
    04/04/08Price change$26,000,000-16%
    04/02/08Listed for sale$31,000,000
    01/18/08Listing removed$31,000,000
    11/13/07Listed for sale$31,000,000+360%

  5. Anonymous

    How much is the rent?

    • Anonymous

      Great question that the IRS would like to know (surely rent is reported on Schedule E?) as well as the lender, who should be informed that it’s rented and get a receiver in there if at all possible to seize any cashflow.

  6. AJ

    Richie Rich says I would buy this house if it comes with an ATM in the foyer.