12 Cherry Blossom Lane, up on the Bedford border, has a pending deal. Current asking price is $1.195. This rubble-strewn, 2-acre back lot was once part of the Antares’ scheme to develop a number of houses for an undefined market – their project, like the company itself, failed.
Originally priced in 2008 at $2.125 million, it’s (almost) hard to believe that one of the two Antares partners, Joe Beninati, is now living in New York City, posing as a knowledgable real estate developer. I mean, over estimating the value of a property by this kind of margin indicates a feckless amateur, not a sage businessman.
The listing, by the way, describes this property as lying within “the quintessential New England enclave”. Hmm – we have a long history of property ownership in New England, and the region has certainly seen its share of bankrupts and incompetents – see, e.g., Antares Development Company, but I wouldn’t insult us natives by saying failure is the epitome of New England neighborhoods.