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275 Round Hill Road

275 Round Hill Road

275 Round Hill Road has returned to the market at $5.575 million after a year lying fallow. This is a 1726 house, sort of, last remodelled in 2004. Owners paid $4.7 for it in 1999 and asked $8.4 million in 2008. That didn’t work as expected during the ensuing years that saw five price cuts and almost as many brokers, and it finally expired at the end of 2011 at a price of $5.995. And as noted, now it’s back at $5.575.

Might work – certainly a good location and the house retains much of its beauty, but lovers of old Round Hill Road houses might want to see what’s happening with Walter Noel’s place at 175 Round Hill. It’s rumored to be in the hopper, perhaps because, I was just surprised to learn, that the law suit brought by the town of Fairfield’s pension fund was withdrawn against Walter and his partner Tucker last August 16th. A quiet settlement, perhaps? Whatever’s going on, it seems that the Noels are getting ready to shake the mud off their golf spikes and vamoose.

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Walt Noel should be so lucky

Bernie Madoff’s Montauk house, asking $9 million, has already sold after “a fast and furious bidding war” to an all-cash buyer. That’s excellent news for most of his victims but can his biggest loser, self-described Madoff victim himself, Walter Noel, expect the same kind of action when he’s forced to sell his Round Hill home? Not a chance, for several reasons: first, he lacks the notoriety – Bernie was an evil genius, or at least evil, while Walt’s claim to be just a bumbling idiot is beginning to ring true. Second, the Madoff place is direct ocean waterfront. Sure it will be washed away in ten years or so, but there’s no way you could build in such a vulnerable location today and, until the sea does its work, the new owner will have the best views in town. Walter’s place is a tired old dump with a view of the road, period.

So sorry, Walt, but I don’t think you can count on the proceeds from 175 Round Hill doing much to get you out from under this mess. Have you checked the extradition treaty of Mustique?

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Unemployed? Creditors at the door? Grab a shovel and head on up to 175 Round Hill Road.

The Hamptons are so over - we'll bury it in Greenwich

The Hamptons are so over - we'll bury it in Greenwich

The rumors have already started that Bernie Madoff buried millions in his Long Island estate, but so far, you’re getting this tip ahead of everyone: you want gold, head up Round Hill Road. Yo ho ho and a bottle of mojitos!

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Whetting your appetite (and knives)

Here’s the tax card information on Walter’s cottage at 175 Round Hill Road. I say $5.5 million as a distress sale. The town thinks more, but then, they appraised it before recent developments.

10-2149   NOEL WALTER M JR & MONICA H   ROUND HILL ROAD 0175   109

 

ADMINISTRATIVE INFORMATIONPARCEL NUMBER
 10-2149

Parent Parcel Number
 0

Property Address
 ROUND HILL ROAD 0175

Neighborhood
 162100   

Property Class
 109   Single Fam + Accessory Apt

TAXING DISTRICT INFORMATION

 Jurisdiction    57

 Area            1

 Corporation     57

 District        10

 Section & Plat  159

 Routing Number  7424E0023

Site Description

 Topography:      
 
 
 

 Public Utilities:
 Water:  Y
 Sewer:  N
 Electricity:  Y
 Gas:  
 Cable:  
 Well:  
 Septic:  
 Other:  
 Shared Well:  
 Shared Septic:  

 Street or Road:      
 
 

 Neghborhood:      
 

 Zoning:
 15   RA-2 Single Family 2 acre

 Legal Acres:
 2.19

 

  OWNERSHIPNOEL WALTER M JR & MONICA H

P.O. BOX 1555
GREENWICH, CT 6836

LOT NO 1B ROUND HILL RD E-23

CURRENT ASSESSMENT

Assessment Year   10/1/2005
Reason for Change   2005 Reval
VALUATION L 2963700
Market B 3038100
  O 0
  T 6001800
VALUATION L 2074590
70% Assessed/Use B 2126670
  O 0
  T 4201260

PREVIOUS ASSESSMENTS

Assessment Year   10/1/2004 10/1/2001 10/1/2001  
Reason for Change   2004 List 2001 Final 2001 Reval  
VALUATION L 1776100 1776100 1776100  
Market B 2138800 1873800 1758300  
  O 0 0 0  
  T 3914900 3649900 3534400  
VALUATION L 1243270 1243270 1243270  
70% Assessed/Use B 1497160 1311660 1230810  
  O 0 0 0  
  T 2740430 2554930 2474080  

 

Dwelling # 1

PHYSICAL CHARACTERISTICSStyle: Colonial
Year Built: 1947

Occupancy: Single family

Story Height: 2
Construction Type: Wood Frame
Finished Area: 8590
Attic: Part
Basement: 1/4 Bsmt, 1/2 Crawl

EXTERIOR
Covering: Stone 100%
       %

Condition: EX

ROOFING
Material: Slate or tile

INTERIOR ACCOMODATIONS
Finished Rooms: 18
Bedrooms: 8
Half Baths: 1
3 Fixture Full Baths: 7
4 Fixture Full Baths: 0
5 Fixture Full Baths: 2

HEATING AND AIR CONDITIONING
Heating Type: Hot water – gas
Air Conditioning; Y

OTHER
Res Pool In Ground
FSP
Fence Masonry
Fence Masonry

 

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Noel’s New year Resolution

Dump Round Hill, make up with Andre and move into the kids’ house in Spain.

The Spanish real estate market is heading south, fast, so shuffling off to the Mediterranean coast might work an economy. I don’t know anything about Spain’s extradition laws but Walt’s 78 and you’d think a good lawyer could slow things down long enough to permit him to spend his dotage in the sun.

(hat tip: Instapundit.com)

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Will 175 Round Hill Road be next?

The sad truth in this world is that lawyers and lawsuits are expensive, especially when you’re involved in $50 billion frauds. News today that Walt Noel’s partner in misfeasance, Jeff Tucker, has been forced to stop all construction on his Saratoga horse farm and plans to ship the nags to the glue factory – unless Walt introduces him to that horseflesh into cash machine, George Lindemann Jr., once of Greenwich, now of Miami.

The fun’s just beginning for Fairfield Greenwich Group and its principals – stay tuned for bargain opportunities in Mustique, South Hampton and Greenwich.

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