More mansions

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September 17th, 2015 at 3:04:57 PM permalink
Pacomartin
Member since: Oct 24, 2012
Threads: 648
Posts: 7416
Quote: Fleastiff
Three shifts of bodyguards.


26 Pond Rd, Kings Point, NY 11024
It looks like the main house (beds 20.5 baths 35,821 sqft) Sold on 11/08/13 for $15 million. Ultra rich people don't want a huge pile from 1928, they want new homes,
That would suggest that the home may be worth $20-$25 million.

One REALTOR called them vanity listings. They put these ridiculous prices just so that they get international exposure. When it comes down to it, the home will sell for a fraction of the listing price.
September 17th, 2015 at 8:13:28 PM permalink
Evenbob
Member since: Oct 24, 2012
Threads: 105
Posts: 10166
When I was in SoCal in the late 70's, it was
typical for someone to buy one of those
old mansion type houses that had a livery
stable/garage converted into a guest house.
This was sometimes 3-4 thousand sq ft.
The new owner would live in the guest
house and rent out the big one. Putting
all the rent towards the mortgage, and
husband and wife working good jobs,
they had it paid off 10 years or less by
living like paupers and putting it all
towards the mortgage.

I wonder if that's even possible anymore.
If you take a risk, you may lose. If you never take a risk, you will always lose.
September 17th, 2015 at 8:36:30 PM permalink
Pacomartin
Member since: Oct 24, 2012
Threads: 648
Posts: 7416
Quote: Evenbob
I wonder if that's even possible anymore.


I would think it would be very difficult. The bank would want a husband and wife income to be able to cover the full mortgage. You would need the downpayment, the money to cover the renovation . The bank cannot count on the money from renting the main house.

But 3-4 thousand sq ft. is pretty big for a stable/garage. My parents home has a gardener's apartment above the garage (built circa 1928), but it's only 800 square feet if you count the space under the eaves.
September 17th, 2015 at 8:49:17 PM permalink
Evenbob
Member since: Oct 24, 2012
Threads: 105
Posts: 10166
Quote: Pacomartin


But 3-4 thousand sq ft. is pretty big for a stable/garage. .


Most of these stables were built at
the turn of the century and they
were really barns. They were quite
big and some were tall enough
that they even had a 3rd story
attic with dormers. I was in one
of them and it was very nice indeed
as a home of it's own. A lot of them
were small too, more like the size
of a two story cottage. I was in the
rich part of Detroit last year and
every old beautiful brick mansion
had a converted stable/house.
Never seen so many old fantastic
homes in my life, and I went to
Beverly Hills several times.

Homes like this on both sides of
the street.

If you take a risk, you may lose. If you never take a risk, you will always lose.
September 18th, 2015 at 1:48:12 PM permalink
rxwine
Member since: Oct 24, 2012
Threads: 111
Posts: 4437
Quote:
Billionaire hedge fund manager Ken Griffin, founder of and CEO of Citadel, just dropped $200 million on “several floors of a new condo tower,” in midtown Manhattan, according to a CNBC report.

The purchase could be the most expensive single residential real estate deal in U.S. history, CNBC said, but Griffin still spent less of his net worth than you did on your $200,000 split level. Given the fact that Griffin, reportedly worth $7 billion, made $1.3 billion last year, the deal didn’t put much of a dent in his 2014 earnings.

According to CNBC, Griffin has secured 3 entire floors of 220 Central Park South, a Robert Stern-designed building still under construction. Securing a place in the building has become a status symbol


I think I saw a documentary on the construction of the building not to long ago.

http://fortune.com/2015/09/18/expensive-real-estate/?xid=gn_editorspicks&google_editors_picks=true
No one has ever proven I am not God.
September 18th, 2015 at 4:36:14 PM permalink
Pacomartin
Member since: Oct 24, 2012
Threads: 648
Posts: 7416
Quote: rxwine
I think I saw a documentary on the construction of the building not to long ago.


Storage units start at $111,000 for 44 square feet and go up to $211,000 for 84 square feet. Wine cellars start at $133,000 for 38 square feet and go up to $287,000 for a more expansive 82 square feet. Parking spaces will cost $750,000 a pop.
- See more at: http://therealdeal.com/blog/2015/03/04/revealed-prices-floorplans-at-vornados-220-cps/#sthash.aaAbLsI9.dpuf

Hmmm!
November 14th, 2015 at 6:20:56 PM permalink
rxwine
Member since: Oct 24, 2012
Threads: 111
Posts: 4437
30 room mansion for only 30k



http://www.realtor.com/news/unique-homes/mansion-on-the-move-in-new-hampshire/?cid=syn_outbrain_0214_rss_uh-01

(of course there is a catch)
No one has ever proven I am not God.
November 14th, 2015 at 7:39:00 PM permalink
Pacomartin
Member since: Oct 24, 2012
Threads: 648
Posts: 7416
Quote: rxwine
(of course there is a catch)

Probably be easier to remove the internal woodwork and marble and simply tear down the building.
November 15th, 2015 at 11:32:21 AM permalink
Evenbob
Member since: Oct 24, 2012
Threads: 105
Posts: 10166
Quote: Pacomartin
Probably be easier to remove the internal woodwork and marble and simply tear down the building.


I don't understand why it hasn't sold. The
woodwork is worth a fortune, there are
people who buy places like this for a living
and tear out anything of value and then
have it demolished. In the late 19th century,
W. Randolf Hearst went around EU buying
interiors of castles and mansions and having
it all stripped out and sent to a warehouse
in NYC. He eventually used it in the houses
he built in Calif, including the Hearst castle.

He had a staff of workman in EU that worked
full time for him doing his bidding. It's
quite a story, he had a 3 story warehouse that
took up a city block in NYC, stuffed to the
brim with EU antiquities.
If you take a risk, you may lose. If you never take a risk, you will always lose.
November 15th, 2015 at 11:52:31 AM permalink
Evenbob
Member since: Oct 24, 2012
Threads: 105
Posts: 10166
It says it has 20 bedrooms, they must be
very small. The house doesn't look all
that big. 10K sq ft it says.

If you take a risk, you may lose. If you never take a risk, you will always lose.
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