If you’re Steve Cohen, you don’t worry about this but for mere millionaires, watch out

Cheslock's Flying Circus, 309 Taconic Road

Cheslock’s Flying Circus, 309 Taconic Road

Extreme dream houses are hard to sell.

John Nugent spared no expense customizing his Andover, Mass., home for his family. For his sports-loving children, he built a full-size indoor basketball court with a scoreboard, a 30-second shot clock and three rows of bleachers. Downstairs, there’s a bowling alley with a vintage scoring machine, and an indoor pool with a water slide. On a wall near the pool, there is a mural with images of Mr. Nugent’s children, along with the family’s dogs, cats, bird and pet rabbit.

Then the children grew up and moved out, and Mr. Nugent no longer needs as much space. The 56-year-old CEO of software company Visibility Corp. has been trying to sell his roughly 20,000-square-foot home—which also has a batting cage and pitching machine, an outdoor putting green and two locker rooms—for the past few years. The house cost about $6 million to build, Mr. Nugent said, so he put it on the market for $6.5 million—far more than most homes in this Boston suburb, where a house priced over $3 million is unusual. He is now trying to sell the property in a sealed-bid auction through the firm Madison Hawk Partners.

It’s a long-held real estate dictum that giving a home too many unusual features can damage its resale value. Despite that, many owners in recent years have only grown more focused on making their homes unique, real-estate experts said. Some owners spend years, and millions of dollars, creating a dream home suited to their specific tastes—without worrying about whether the resulting home will fit anyone else’s. The phenomenon holds especially true in areas of the country where real-estate prices are booming, making owners more confident their homes will sell no matter what.

Veterans say the emphasis on customization, which grew during the boom times of the 1990s and 2000s, has now picked up again after the economic downturn. It has been facilitated by the Internet, which gives owners access to lots of unconventional ideas with a few clicks.

“People see all the unique things that are being done, and it inspires them to want something unique,” said Peter Archer of Pennsylvania-based Archer & Buchanan Architecture, who recently designed a “Hobbit house” on a client’s property to hold a collection of J.R.R. Tolkien memorabilia.

The whole article is fun, but don’t miss the bit on Miss Cassidy George, a 19-year-old brat whose Wall Street daddy bought her a $2.775 million apartment in the Bowery so she could paint it all black and vandalized. Miss George, who identifies herself as a “punk rebel” – hahahahah -claims she’s not worried about what she’s done to its resale value and of course, why should she? It’s Daddy’s money. At least Steve Cohen spent his own money building his 40,000 sq.ft. Crown Lane home.

17 Comments

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17 responses to “If you’re Steve Cohen, you don’t worry about this but for mere millionaires, watch out

  1. Anonymous

    Hopefully with all that perfect setup, his kids surely have jobs as professional athletes???

    • I often wonder the same thing when I see all these private coaches, soccer camps, travel teams, etc. How many professional athletes can we expect Greenwich to turn out?

    • Anonymous

      Most pro athletes are born not made. Sure, practice is important, but the pros’ physical traits are as unique as the mental ones of PhD physicists. Two kids from Stamford made the NFL this year. One is Silas Redd, who made Redskins (oops can’t say that!) as an undrafted free agent. Any Greenwich NFL picks since Steve Young or before?

      • Cos Cobber

        Yes, mike Sullivan current center for the Vikings came from Greenwich high via Notre dame.

        And Stamford had a tackle drafted in the second round by the jets four years ago by way of umass.

        That said, the General point remains valid.

        • John Sullivan, please! (I credit myself for his football career because, if I hadn’t been such a bad little league coach, he might have squandered his talents on baseball). And of course, Steve Young and Dorothy Hamill. But yes, we’ve probably produced more professional musicians and writers than sports stars.

  2. i’d take the Miss Cassidy George’s place in a heartbeat. i wonder if she’s currently seeing anyone?

  3. EOSredux

    Bedford is full of ugly big houses built with 90s money, indoor tennis courts and basketball courts, rooms no one ever sat in or furnished but it was de rigeur to outdo the other power money brokers in town. Stupid. Many of those houses have been for sale for a couple of years or more. However, the old big houses do sell, the real antiques. Michael Douglas and his wife just upgraded here to a 15k sf house on 13 acres, built in 1895.

    More than half of Bedford is without power now. Trees down everywhere. My generator is hummmmmmmmmmmmmmmmming away, thankfully. You folks in Greenwich seeing outages too? Surely backcountry must, if we are.

  4. Anonymous

    That home on crown lane was there long before Stevie showed up.

    • But surely not all 40,000 feet of it, plus the ice rink.

    • Anonymous

      Yes, it was once owned by Cy Sims, the cheap clothing magnate. Years ago I went a tag sale at this place, and someone there told me it was a Stanford White house; though, I’d bet, White would barely recognize his work today.

  5. Anonymous

    Jos. A. Bank is the new Sims.

  6. Anon58

    A real basketball fan would have installed a 24-second shot clock.

  7. Slim Pickens

    That’sTim Horton you are using an image of. your mama can’t shine his hoes. Are you freaking insane?